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At CFOSg, we’ve spent over a decade helping businesses like yours access various government grants. Whether it’s the Enterprise Development Grant (EDG) by Enterprise Singapore (ESG) or other grants like the Productivity Solutions Grant (PSG) or Market Readiness Assistance (MRA), we’re here to share our knowledge based on years of experience. While we don’t represent ESG or any government agencies, we provide expert guidance to help you navigate the grant process successfully.
What is EDG?
EDG stands for Enterprise Development Grant. Launched in 2018, it’s designed to help established Singapore SMEs grow and transform their businesses.
You can get up to 50% funding for most projects. If your project is about sustainability, you can get up to 70% support.
During COVID-19, support was increased, but now that the storm has passed, the support levels are back to normal.
Enterprise Singapore (ESG) is in charge of approving all EDG grants.
There’s no exact formula for how much you’ll get—it depends on the scope of the project and the size of your company. Generally, projects are around $40k, but bigger projects can go above six figures.
Ok, this is strictly based on our experience with CDG and based on some assumptions.
Usually, projects are about $40k (based on the previous CDG Lite).
But, there are projects way above $40k, hitting above six figures, depending on the scope of work.
EDG covers projects in these areas:
To qualify, your business must:
For bigger companies or group holdings, you’ll also need:
You need to show reasonable revenue over the last three years. The 3 years audited accounts will be required when you apply for the grant.
While there’s no set rule, based on our experience, it helps to have at least $400k in annual revenue, with $1 million being ideal.
Our experience tells us having zero or just one employee may not justify the project size. Ideally, the company should have at least 5 employees (not including directors, partners, or owners) to ensure the team size matches the project scope.
Yes. Since April 2020, SMEs need to commit to improving workers’ outcomes, such as creating jobs or raising wages.
Generally, startups are not eligible for EDG. However, there are exceptions for startups with groundbreaking products. If you’re a startup, you can explore the Startup SG network, which is designed specifically for supporting startups.
Depending on the scope of your project, the timeline could range from 4 to 12 months. This includes time to establish objectives and conduct necessary research. Our typical financial management projects take about 4 to 6 months, but more complex projects may take up to a year.
From 1 January 2017, if you engage consultants, they need to be certified management consultants certified by Enterprise Singapore. Make sure your consultant has the right certification, or ESG won’t support the consultancy fees.
Yes! Consultants from CFOSg are certified and accredited by Singapore Business Advisors & Consultants Council Limited (SBACC) and this certification is recognised by Enterprise Singapore.
The application process isn’t too complicated. You can easily apply EDG directly on Business Grant Portal by Enterprise Singapore. Click here to access Business Grant Portal.
We have created an EDG Walk-through so that you will understand the process and requirements better.
Absolutely! If you appoint us as your consultant, we’ll guide you through the entire process, including helping with the project proposal.
You’ll need:
If you already appoint us as your consultant, we can help you to craft the project proposal for you. We have experience in navigating through the process.
There is no fixed timeline. It may take 1 to 2 months. It is highly dependent on the amount of applications and the number of officers at any given time. So, bottomline, hold your horses and be patient.
Short answer is no. You need to wait for official approval from Enterprise Singapore before before starting.
It means that you should not have already begun on the project before your application has been approved. Neither should you have made payment to service providers or suppliers involved in the project.
Yes, after the project starts, we’ll guide you through the claims process to get your funding.
We will guide you through the entire process step-by-step. If required, we will sit down by your side to guide you along.
Great question! Our core expertise lies in financial management. We help businesses digitalize their financial processes and prepare for the future, positioning you for growth both locally and on the global stage.
There are no strict limits on how many EDG grants you can apply for. ESG allows you to work on multiple EDG projects simultaneously. However, you can only receive an EDG grant in a specific category once. For example, if you are awarded an EDG grant for Financial Management, you won’t be eligible for another grant in that same category. You can, however, still apply for EDG grants in other areas.
The Productivity Solutions Grant (PSG) supports Off-The-Shelf Solutions, which are typically more affordable and require little to no customization. The grant covers up to 50% of the solution cost. Click here more information about PSG. If PSG solutions don’t meet your business needs and you require a bespoke solution for your business, do contact us!
Check Enterprise Singapore’s website for the most up-to-date information.
You can apply for EDG directly at Singapore Business Grants Portal.
Yes! You can reach out to certified consultants like us, or SME Centres for assistance. We are more than happy to help and answer all your questions regarding EDG. Just fill in the form below.
If successful, ESG will send you a Letter of Offer. You must accept the Letter of Offer in order to start the project. If you are not successful in the application, ESG will send an email explaining why. You can always appeal the decision.
Yes, you can appeal the decision. Simply resubmit the application and this time round, make sure you’ve addressed any gaps or unmet requirements. ESG will treat your appeal as a fresh application.
Yes, currently, ESG allows you to make an advance payment claim. It will be a percentage of the total grant amount. This means you can request for this monies in advance even before paying the vendor’s invoice. The exact figure will be in the official Letter of Offer.
You can attempt to make interim claims before the project is fully completed, but this is reviewed on a case-by-case basis by ESG.
After the completion of the EDG project, you will need to appoint an external auditor from a pre-approved panel. The auditor will ensure that the project has been completed properly, including verifying the transfer of funds between parties.
The audit fee is covered by ESG, and you can claim it directly from them after the project is completed.
You should make a claim on the same business grant portal at https://www.businessgrants.gov.sg.
Once you make a claim, it usually takes 1-2 weeks for ESG to process the payment.
The views and opinions expressed here are solely those of CFOSg and do not represent the official policy or position of ESG or any Singapore Government agency. The content is based on limited information and assumptions. The Enterprise Development Grant (EDG) is administered solely by Enterprise Singapore (ESG), and all information is subject to change. EDG grants are subject to approval by ESG. CFOSg does not represent or claim to represent ESG in any capacity.
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