Singapore is known for its thriving business ecosystem, which offers robust support for small and medium enterprises (SMEs). To help businesses grow and sustain themselves, government organisations offer various grants for financial aid, hiring, innovation, and skills development. By leveraging these grants, small businesses can overcome operational challenges and stay competitive in a fast-evolving marketplace.
Government grants offer a myriad of advantages for small businesses, including:
One of the most significant advantages of government grants is the financial relief they offer. Starting and running a small business involves high upfront costs—rent, salaries, equipment, and other operational expenses. Government grants alleviate these financial pressures by providing funding that can be used for various purposes, such as upgrading technology, selling overseas, or implementing new systems.
Securing a government grant is a mark of achievement. It signals to customers, partners, and investors that your business meets rigorous eligibility criteria, such as sound financial health, a clear growth plan, and alignment with national economic priorities.
Scaling a business requires significant investment—whether it’s hiring skilled talent, automating processes, or entering new markets. Government grants are specifically designed to address these needs. Programmes like the Enterprise Development Grant (EDG) focus on helping local businesses innovate and grow through funding for initiatives such as automation and international expansion.
Grants often come bundled with non-financial benefits, such as access to industry experts, training programmes, and business advisory services. For example, programmes under SkillsFuture Singapore not only provide funding but also offer curated learning pathways to upskill employees.
In Singapore, several key organisations play a vital role in administering grants to support business growth, workforce development, and innovation. These organisations align their initiatives with the nation's goals to foster a robust and competitive economy.
Some of the major grant providers include:
Workforce Singapore (WSG) is a statutory board under the Ministry of Manpower that aims to enhance the capabilities and competitiveness of Singapore’s workforce. WSG offers various grant programmes to support businesses in hiring, reskilling, and upskilling their employees. These initiatives help companies address workforce challenges, improve productivity, and maintain relevance in an ever-changing economic landscape.
Enterprise Singapore (ESG) is a government agency dedicated to supporting enterprise growth and internationalisation. Its initiatives are designed to help local businesses innovate, transform, and expand their global presence. ESG administers several grants, including those that focus on productivity, innovation, and market expansion, empowering businesses to scale effectively.
The National Trades Union Congress (NTUC) is a national confederation that champions the interests of workers in Singapore. NTUC provides grants that aim to help workers stay competitive by acquiring new skills and upgrading existing ones. These programmes also benefit businesses by ensuring their workforce remains future-ready and capable of meeting industry demands.
SkillsFuture Singapore (SSG) is a statutory board under the Ministry of Education that champions lifelong learning and skills development. For employers, SkillsFuture grants help improve workforce competencies through training and development opportunities, ensuring long-term competitiveness in a rapidly evolving business environment.
This is what you need to know about the types of government grants available for growing your small business:
Hiring grants are specifically designed to alleviate the financial strain of recruitment and onboarding while ensuring that businesses have access to a skilled and capable workforce. These grants not only help companies hire the right talent but also support workforce sustainability by incentivising employee development and retention. Some of the hiring grants available in Singapore include:
The M-SEP Scheme offers hiring flexibility by allowing companies to temporarily hire S-Pass and Work Permit holders above their existing Dependency Ratio Ceiling (DRC) and S-Pass sub-DRC for two years. This grant is aimed at businesses contributing to Singapore’s strategic economic priorities, such as innovation, internationalisation, or sustainability.
The Career Conversion Programme (CCP) is designed to help mid-career professionals transition into new or enhanced job roles, addressing talent shortages in high-demand industries. Through CCP, businesses can receive up to 90% salary support to offset the costs of reskilling employees, making it a cost-effective way to onboard and train talent.
The GRT programme aims to build a pipeline of talent for companies expanding overseas. This grant supports the hiring of local and international interns and young professionals who can contribute to internationalisation efforts.
Innovation grants play a pivotal role in helping businesses adopt cutting-edge technologies, improve processes, and stay competitive in an ever-evolving market. By supporting innovation, these grants enable companies to embrace digital transformation, foster creativity, and drive sustainable growth. Key innovation grants available in Singapore include:
The Business Improvement Fund (BIF) is specifically tailored for tourism-related businesses, such as hotels and hostels, encouraging the adoption of technology and innovative processes. This grant helps these businesses improve productivity, reduce costs, and create unique customer experiences through technological advancements.
The ADS grant drives advanced technology adoption by providing funding for businesses to implement state-of-the-art digital solutions. These solutions include artificial intelligence, data analytics, digital training, and cybersecurity measures, all designed to enhance operational efficiency and boost customer engagement.
The EDG focuses on funding projects that aim to automate business processes and improve operational efficiency. This grant supports businesses in streamlining repetitive tasks, reducing reliance on manual labour, and achieving greater scalability.
Productivity grants are crucial for businesses in Singapore looking to enhance their operational efficiency and maximise their output. These grants help companies adopt tools, technologies, and processes that streamline operations, reduce resource wastage, and improve overall productivity.
PSG is a key government initiative designed to help businesses enhance efficiency and productivity through the adoption of IT solutions and industry-specific equipment. With this grant, eligible local SMEs can receive funding support of up to S$30,000 to implement pre-approved productivity solutions. These solutions are carefully vetted and endorsed by Enterprise Singapore (EnterpriseSG) and other participating agencies, ensuring their effectiveness in addressing business challenges.
Investing in employee development is critical for long-term business success. Training grants are designed to help businesses in Singapore upskill their workforce, enhance capabilities, and foster a culture of continuous learning. These grants alleviate the financial burden of training while ensuring employees remain future-ready. Some of the training grants employers can apply for include:
The SkillsFuture Enterprise Credit provides eligible employers with up to S$10,000 credits to offset up to 90% of out-of-pocket expenses for enterprise and workforce transformation programmes. Businesses can use these credits to adopt new technologies, enrol employees in structured training programmes, or improve workplace practices.
Absentee Payroll Funding reimburses employers up to S$100,000 per calendar year for the manpower costs incurred when employees attend training programmes. This encourages businesses to support employee development without worrying about productivity loss or salary payouts during training.
ETSS offers up to 90% funding support for SMEs enrolling their employees in training courses. The grant also extends to sector-specific training programmes to address industry needs, making it easier for smaller companies to invest in skills development.
In collaboration with SSG, JobKred introduces the Skills Profiler Programme, a powerful tool designed to help SMEs enhance workforce development. This programme enables businesses to benchmark employees’ competencies, identify their strengths and skill gaps, and align them with suitable training programmes tailored to their needs.
The initiative is sponsored by SkillsFuture Singapore and is available FREE for the first 400 SMEs that sign up. This offers businesses a 12-month cost-free opportunity to build a learning culture, empower their employees, and foster continuous professional development with JobKred’s Lithium skills profiling platform.
Leverage this programme to create a more capable, future-ready workforce while aligning your business goals with national skills development priorities.
Investing in employee development and training is more critical than ever in today’s competitive business landscape. A well-trained and empowered workforce not only enhances productivity but also drives innovation and adaptability in a rapidly evolving market.
JobKred’s talent marketplace software and employee development solutions serve as the perfect complements to government grants, offering tools that help businesses:
By leveraging JobKred alongside available government grants, your business can unlock its full potential, equipping your workforce with the skills and knowledge needed to thrive and progress in their careers. Embrace these opportunities to stay ahead of the curve and ensure long-term success.
For more information about how to maximise the talent in your organisation, check out our guide on how to implement a skills-first talent management framework.
