If you are seeking grants for your company to push forward to the next level, then knowing about Enterprise Development Grant(EDG) might be of particular help. Before you jump into the process, here are some answers to the common questions asked by the newbies that will enhance your knowledge about the branding grant Singapore.
FAQs related to EDG branding grant
- What is EDG?
It is a grant approved by Enterprise Singapore(ESG) for SMEs in Singapore seeking support for business growth.
- Who can apply?
Companies who are –
- Registered and functional in Singapore.
- Holding a minimum of 30% local shareholding.
- Financially in a workable position to start and complete the project.
- Do start-ups fall in the eligibles?
Typically, to be eligible for an EDG grant, the organization must have 2 to 3 years of an operational system. There must be a considerable revenue stream to be eligible. Look into the startup ecosystem for more information.
- What is the support level of EDG?
EDG grants support upto 80% of project costs for SMEs and 60% for the non-SMEs. This is applicable till 31st March 2022.
- Is there a criterion for annual revenue turnover?
Ideally, the working figure must be at least S$ 1 million turnovers annually. However, there are exceptions as well based on the project potentials.
- Does employment group size matter?
An ideal headcount would be 5 and not above 200 for a grant to be approved by EDG.