Singapore’s Government is encouraging more businesses to create pro-family products and services, through the increase of funding and eligibility criteria for the Businesses for Families Grant.
The scheme aims to award all businesses and organisations whose services or products are relevant to families. To qualify for funding, a business needs to be registered or incorporated in Singapore, have at least one outlet and target (or plan to target) families as customers.
In details, the grant can be used to implement pro-family business projects and to sustain the cost of Business consultancy, Infrastructure costs, Training, development and implementation costs.
The changes include:
– S$50,000 funding per business with single outlet, up from S$20,000;
– S$80,000 funding per business with multiple outlets;
– The Government will co-share up to 70% of the costs incurred for approved projects, up from 50%;
– grant disbursements changed to 50% upon approval, 50% after completion;
– The Government will co-share up to 70% of the costs incurred for approved projects, up from 50%;
– grant disbursements changed to 50% upon approval, 50% after completion;
– all businesses are still eligible to apply;
– businesses must still attain the Pro-Family Business Mark to qualify for funding. This mark is obtained by businesses which meet specific standards relating to their strategy, service, infrastructure and business outcomes.
It is significant to notice that current grant recipients can also apply for the remainder of the revised fund.
For details, visit EnterpriseOne Portal, the Governament of Singapore’s website dedicated to Local Business:
http://business.gov.sg/
FinSMEs
29/12/2009