Whether you’re a new business in Singapore, or a slightly more established SME, there are a host of Singapore startup grants and other forms of financial assistance that you might be entitled to. Each is designed to give businesses across all sectors the best possible chance of succeeding.
In this guide, we’ll take you through all the various grants and bursaries your Singaporean business might be entitled to in 2025, as well as the process you need to follow to gain access to these funds.
Launching a startup is not easy. Even with all the planning and care in the world, sometimes the difference between success and failure boils down to having the necessary cash to navigate those tricky opening months.
According to the Singapore Business Foundation, 50% of SMEs fail within five years, with 60% stating cash flow difficulties as one of the biggest challenges faced.
Businesses often have to innovate and take risks during the early stages of operation, particularly in highly competitive sectors. Without the added support from the Singaporean government for businesses, they are more likely to play it safe, take no risks, and ultimately find it difficult to keep their doors open.
The Singapore Department of Statistics has reported that two-thirds of Singapore’s workforce are employed by SMEs, with these businesses contributing just under S$200 billion to the economy. With that in mind, it’s in their best interest to make sure that these businesses succeed wherever possible.
Singapore doesn’t just cater to startups when it comes to the grants on offer. There are several categories of grants for businesses at various stages of development.
The main types of grants include:
The main purpose of Singapore’s startup grants is to make sure all new SMEs can navigate the difficult first few months of trading and operations. They include both monetary assistance as well as guidance from experienced mentors and professionals.
The main startup grant that most new businesses should attempt to secure is known as the Startup SG Founder Grant (SSGF). This grant has a monetary amount of up to 50,000 SDG, however, certain situations and circumstances can result in an extra 10,000 SDG becoming available. It works on a capital matching basis, for every dollar the business puts into their operations, the fund will match it up to the total amount.
To be eligible for this grant, the primary benefactor or owner of the business needs to be a first-time founder and a Singaporean citizen. There must also be a second owner, though this person does not need to be a first-time recipient. Collectively, they must hold a minimum of 30% equity in the business.
They must also demonstrate evidence that they have engaged with some form of entrepreneurial training.
These types of grants are examples of digital grants. They can be offered to businesses that show evidence of creating proprietary technology solutions. This is essentially when branches of technological innovations are interconnected.
A great example of this type of business grant is the Startup SG Tech Grant. There is a certain amount of crossover with the startup grants, as your business needs to be a startup to be eligible. The total amounts are much higher though, with up to 800,000 SGD available.
With the higher amounts comes a higher bar for entry. The business needs to have a proof of concept (POC) or proof of value (POV) ready to show. The business also needs to have a turnover of less than 100 million SDG, or a workforce no larger than 200 employees.
The Singaporean government has made a significant commitment to its businesses and national economy. One of the ways they achieve this is by rewarding businesses that invest in upskilling local talent for their workforce.
The SkillsFuture Enterprise Credit (SFEC) is one example. This is a 10,000 SDG payment, designed for enterprise transformation. Businesses need to employ at least three Singaporean citizens each month for the duration of the qualifying period (usually twelve months). They also need to have made a 750 SDG Skills Development Levy contribution over the same period.
Additional hiring and workforce grants include the Senior Employment Credit (SEC) and the Enabling Employment Credit (EEC) grants, which incentivize businesses to hire citizens over the age of 60 and citizens with disabilities.
Finally, there are grants that are designed to help businesses expand both nationally and overseas.
The Market Readiness Assistance (MRA) Grant is a great example in this category. It’s specifically designed to help with overseas transitional costs, such as marketing and market entry. The total cap is 100,000 SDG, though this is spread across three separate pillars. It’s limited to businesses that have a domestic annual sales turnover of less than 100 million SDG, or that do not have a workforce larger than 200 employees.
There is also the Productivity Solutions Grant (PSG), which is geared towards domestic expansion and improvement. This grant supports businesses in expanding and refining their IT infrastructure and operations. However, know that there are several eligibility requirements, which could put this grant off limits to many companies.
Here are an additional five business grants for Singapore that can make a big difference to new businesses in 2025:
The Enterprise Development Grant (EDG) has something for everyone. It supports new businesses and SMEs, but it’s also available for businesses looking to build their overseas operations. There’s no fixed financial amount, instead, the grant funds up to 50% of eligible costs based on successful proposals.
As part of these proposals, businesses need to prove that they are financially ready to see the product through with minimal risk involved. The business also needs to be based in Singapore, with at least 30% ownership in Singaporean hands.
Like most countries, Singapore has made a commitment to become more environmentally friendly. As part of this, they offer an Energy Efficiency Grant (EEG) for companies that want to invest in new equipment and operations that will help them become more sustainable.
It’s limited to a few key industries, though the support cap is considerable for eligible businesses, with funds up to 350,000 SDG available. All purchased equipment must be used in Singapore, and the same 30% domestic ownership rules apply.
It’s also not available for businesses that have an annual turnover of more than 500 million SDG.
The Enterprising Financing Scheme (EFS) is a broad program of financial support designed for businesses across a range of sectors and industries. It is a loan rather than a grant, with seven different loan types available.
What makes this a potential option is they offer substantial funds for new SMEs and startups. The scheme bases the amount on a number of metrics that will be individually assessed, this applies to the interest rate as well.
The well-established P-Max Grant is an excellent grant for new businesses in Singapore looking to hire professionals, managers, executives, and technicians (PMETs). It is a program, but there are some nice financial incentives once newly-hired PMETs have completed it.
This includes a one-time grant of 5,000 SDG or 10,000 SDG, as well as up to 90% reimbursement of the course fee. The grant also covers up to 2,000 SDG of the registered employees’ salaries for the duration of the program.
In its commitment to local development, as part of the eligibility criteria, the business must have already hired a PMET within 90 days of starting the program. It’s available for two employees.
The final grant is the Advanced Digital Solutions (ADS) grant. It supports businesses that are early adopters of one of three key solutions, advanced or integrated digital solutions, sustainability solutions, or e-commerce.
As the name suggests, it’s a strong supporter of businesses in the digital fields. Proposals are considered on a case-by-case basis, with final funding determined by the success and validity of these proposals.
As you might expect, Singapore would like to see as many businesses as possible receive support and funding, as it gives them a much greater chance of succeeding and then contributing to the economy. However, most grants will still have certain baseline requirements that need to be met before you can apply.
Regardless of the sector, there are three main requirements that you’ll find for almost all grants:
Within each sector, there are likely to be additional requirements specific to that industry.
Many of the grants listed are accessible via the Business Grants Portal (BGP). The process of applying for a grant is quite straightforward, though there are a couple of things that you will need to have set up beforehand, including your Corppass account and your ACRA profile.
Your first step is to know which grants you’ll be applying for. Look through each one to decide which of them will benefit your business the most. And make sure you check the eligibility criteria to see whether your business is suitable.
Your Corppass account is necessary for performing transactions with government agencies, so you’ll need this to be set up prior to applying for grants. Once you have this registered, you’ll receive a Singpass ID, which you can use to log in to the BGP.
Once you’re able to log in to BGP, you’ll need to fill out your company profile. You’ll need your ACRA details for this part, though this information is usually populated automatically.
You’ll then need to make sure the rest of the application has been filled in accurately. Once you are happy with everything, you can then submit it.
Once you’ve submitted, you’ll have access to the My Grants page. From here you’ll be able to see the status of your active applications, as well any emails or correspondence from the agencies that are dealing with your submission.
You will receive an email once the relevant agencies have finished assessing your application. This will give you information related to your Letter of Offer, which your company’s acceptor can accept.
If your application is successful and you’ve accepted your Letter of Offer, you will be made aware of your claim’s due date. You’ll need to log in to BGP and file your claim before the due date, the funds will then be credited into your designated bank account.
We should point out that receiving a government grant is not a guarantee. Even if you meet the basic levels of criteria, you’ll still need to make sure that everything is exact and well-organized before submitting your application or proposal.
Most grant providers or agencies will want to see clear evidence as to how the funds are going to be allocated. You’ll need a strong business and budget plan in place long before you get to the point of applying for Singapore government support for businesses.
You’ll also want to be sure that the grant you’re applying for matches your plan. Different grants need different approaches, so you should tailor your plan to the grant you’re applying for.
And even though it sounds simple, make sure you follow the provider’s instructions exactly. Any small error will likely result in delays in your application or proposal, or an outright rejection.
So, you’ve been successful in receiving a government grant, and the funds have been credited to your account. Now it’s time to use the money to support your growth.
QuickBooks’ powerful cloud-based accounting software is an excellent option for all Singaporean SMEs and startups. QuickBooks has been designed with key features in mind, like our income and expense tracker, so you can know exactly what’s going in and out of your business and when.
We also offer automated GST tracking, customizable invoicing, and multi-currency payments, amongst many other things, all designed to streamline your business operations. Try it for free today.
For any business, going it alone is always going to be tricky. Think of any one of the largest businesses in the world today. all would’ve likely received grants or other support during their early days.
So why not take advantage of it? Make sure you plan and prepare carefully, with a clear picture of what you want to achieve with your funds. And once you have the funds in your account, make sure that you choose a reliable financial management partner like QuickBooks to help keep everything on track as you build your perfect business.
