Entrepreneurs start their business with high enthusiasm, however after some time, most of them are faced with a common issue – inability to scale when their business has an opportunity for growth and expansion.
Scale your Business with Ease using theBest Grant Consultation
SO, do you want to scale your business andget the best consultation in the industry?
You have come to the right place where you are free to receive the best consultation which can help you scale your business in just a matter of 6 months!
Are these some of the reasons you are facing?
Finding the right consultation is not easy, and the grants always seem to be out of your reach. At The Verticals, we introduce to you a few that may be suitable for your business, as we guide you through the steps on what you are really getting into.
Don’t worry as help is on its way. Get in touch with us and scale your business in simple steps-
Market Readiness Assistance (MRA) Grantby IE Singapore
This grant is meant for SMEs who are targeting to break into the overseas market. It focuses on helping to identify business partners and market promotion in overseas. SMEs will be able to claim up to 70% of the cost of activities they undertake to set up in the overseas market under this grant. Claims are capped at S$20,000 for every company per fiscal year, with maximum of 2 applications starting on 1 April and ending on 31 March the following year.
The cost is limited to only 1 activity per application, activities such as market assessment, market entry, or participation in a trade fair. Activities that are covered include:
- Overseas market set-up
- Identification of business partners
- Overseas market promotion
Eligible companies for this grant will need to fulfill the following conditions:
- Global HQ located in Singapore
- Annual turnover of the company is less than S$100 million per annum (based on the most recent audited report)
Capability Development Grant (CDG) by SPRING Singapore
The CDG supports SMEs to be sustainable by improving their service standards, and adopting technology to support their business operations and processes. It provides financial support by covering costs up to 70% (effective for 3 years until 31st March 2018) for activities in the areas below:
- Product Development
- Branding and Marketing
- Business Excellence
- Business Model Transformation
- Standards Adoption
- Finance Management
- Human Capital Development
- Intellectual Property
- Enhancing Business Processes for Productivity
Companies who are eligible for this grant must be:
- Singapore registered and operating locally
- At least 30% local shareholding
- Group annual sales turnover ≤ S$100m or group employment of ≤200 employees
This grant also encourages joint R&D projects between German and Singaporean SMEs, especially from the Medical, Clean Technology and Advanced Manufacturing sectors.
Productivity and Innovation Credit (PIC) Schemeby IRAS
This scheme was introduced to boost businesses’ productivity via its processes such as training and development. Local businesses can enjoy tax savings through deductions and allowances of up to $400,000 of their expenditure per year. Non-taxable cash pay-outs can also be opted if you have invested in these activities:
- Acquisition and Leasing of PIC IT and Automation Equipment
- Employees Training
- Acquisition and Licensing of Intellectual Property Rights
- Registration of Patents, Trademarks, Designs and Plant Varieties
- Research and Development
- Design Projects
Businesses eligible include: sole proprietorships, partnerships, companies, registered branches and subsidiaries of a foreign parent or holding company.
For SMEs, there is also a PIC+ Scheme, where from YAs 2015 to 2018, eligible businesses can claim an additional $200,000, which brings the cap up to $600,000.