What is the EDG?
EDG is short for Enterprise Development Grant. The grant covers 3 pillars, namely Core Capabilities, Innovation and Productivity and Market Access. Although Market Access has already been replaced by the Market Readiness Assistance (MRA) Grant.
What is supported under the EDG?
- Core Capabilities
– Strategic Brand& Marketing Development
– Business Strategy Development
– Human Capital Development
- Innovation and Productivity
– Process Redesign
- Market Access (Large if not almost all of this pillar is replaced by the MRA Grant)
– Pilot Project & Test Bedding
– Mergers & Acquisitions
What is the current Enterprise Development Grant (EDG) support level for the retail and food and beverage (F&B) sector?
The current support level for SMEs in the F&B sector looking to apply for EDG is 80%. The support level is lower, 70%, for SMEs in other sectors. This higher support level will expire by the 31st of March 2023.
How much grant support can my company apply for?
There is no limit to the size of the grant that a company may apply for. However, more established companies with good financials and higher headcount numbers tend to receive a larger grant amount based on our past experience with EDG applications for previous companies.
How is the EDG disbursed?
The monies are disbursed on a reimbursement basis. This means that the company has to pay for the cost of the project first and then submit proof that the project has been completed to Enterprise Singapore to receive the reimbursement up to the approved amount.
I am not sure of the application process, who can I look for?
You can contact advisors at one of the SME Centres or you can speak to a certified consultant. Certified consultants are consultants who hold the relevant accreditation as stated by Enterprise Singapore. For more information, you can refer to this link: https://www.enterprisesg.gov.sg/financial-assistance/grants/for-local-companies/enterprise-development-grant/apply/engaging-consultants-finding-the-right-fit/list-of-certified-consultants
Here at SG Business Advisory Pte Ltd, you can engage any of our certified consultants for a non-obligatory consultation. Simply send us an email at [email protected] or WhatsApp +6582222886 to get in touch with us.
The editorial team at SG Business Advisory