Unlocking Opportunities: 5 Grants Every Singapore SME Should Know in 2025

Running an SME in Singapore comes with its fair share of challenges from rising costs to digital transformation. But here’s the good news: there are several government grants designed to support businesses like yours in upgrading operations, adopting technology, and scaling sustainably. If you're planning to upgrade your business tools or digital infrastructure, here are five funding schemes you should definitely know.

1. Productivity Solutions Grant (PSG)

Support Level: Up to 50% subsidy on pre-approved solutions

Ideal For: SMEs looking to adopt IT solutions such as digital tools or software solutions

The PSG is one of the most accessible grants for SMEs aiming to digitise.

Basic Criteria:

• Registered and operating in Singapore

• Minimum 30% local shareholding

• Company has less than S$100M annual turnover or fewer than 200 employees

Recommended Tool: ABSS/MYOB and SQL Account are among the PSG-approved digital solutions that support SMEs in improving productivity and streamlining accounting operations.

2. SkillsFuture Enterprise Credit (SFEC)

Support Level: Extra $10,000 credit (on top of PSG/EDG)

Ideal For: SMEs investing in both tech solutions and employee upskilling

The SFEC is a top-up credit that lets eligible companies offset out-of-pocket costs after applying for PSG or EDG. It can be used on eligible digital solutions as long as you also commit to relevant training.

To qualify:

• Must have at least three local employees

• Must have made at least $750 Skills Development Levy contributions in the qualifying period

  
  

3. Enterprise Development Grant (EDG)

Support Level: Up to 50% of qualifying costs

Ideal For: Customised projects that enhance productivity or enter overseas markets

EDG is suitable for more tailored software implementations or workflow revamps. If your project requires more than off-the-shelf deployment (e.g., integration with other platforms or custom reporting), this is the grant to consider.

Project Categories:

• Core capabilities (e.g., financial process improvement)

• Innovation and productivity

• Market access

  
  

4. Market Readiness Assistance (MRA)

Support Level: Up to 50% of eligible costs (capped at S$100,000 per new market)

Looking to expand into Malaysia, Indonesia, or Vietnam? The MRA helps SMEs go international, covering overseas marketing, e-commerce setup, and even overseas software licensing.

You can claim for:

• Overseas market set-up

• Product/service certification

• Overseas market promotion (e.g., digital ads or SEO)

Useful for SMEs looking to support overseas operations, multi-currency billing, or cross-border reporting workflows.

5. Enterprise Innovation Scheme (EIS)

Support Level: Up to 400% tax deduction OR 20% cash payoutIdeal For: Companies investing in R&D, innovation, or new tech development

The EIS is more relevant to compan

ies developing their own accounting integrations or proprietary software. If you work with a tech vendor or develop your own internal digital solutions, you could enjoy significant tax savings or even a direct cash payout.

Final Word

Don't let budget be the reason your SME lags behind. Whether you're just starting out or upgrading your digital operations, there’s likely a grant designed to make it easier and more affordable.

👉 Message us today to learn more about PSG-supported solutions.