Best Grants for SMEs in Singapore (2025)
Complete guide to government funding for small and medium enterprises
Singapore SMEs have access to a comprehensive range of government grants designed to support growth, digital transformation, and international expansion. This guide compares the most relevant grants for small and medium enterprises and helps you identify the best options for your business needs.
Quick Comparison
| Feature | PSG | EDG | MRA | SFEC |
|---|---|---|---|---|
| Primary Purpose | Productivity | Transformation | Overseas Expansion | Training |
| Funding Support | Up to 50% | Up to 50-70% | Up to 70% | S$10K credit |
| Max Funding | Per solution cap | No fixed cap | S$100K/market | S$10K total |
| Application Effort | Low | High | Medium | Low |
| Approval Time | ~4 weeks | ~2-3 months | ~4-6 weeks | Auto-qualify |
| Digital Solutions | Yes | Yes | No | No |
| Consultancy | No | Yes | Yes | No |
| Training/Upskilling | No | No | No | Yes |
Pros and Cons
Productivity Solutions Grant (PSG)
- Fast and simple application
- Pre-approved solutions reduce risk
- Covers most common business needs
- Good for quick digital wins
- Limited to approved solutions
- Capped funding amounts
- No custom development
Enterprise Development Grant (EDG)
- Flexible for any project type
- Covers consultancy and custom work
- Higher funding for sustainability
- Supports transformation projects
- Complex application process
- Longer approval timeline
- Requires strong business case
Market Readiness Assistance (MRA)
- High funding (up to 70%)
- Covers overseas setup costs
- Multiple markets eligible
- Only for internationalization
- Capped at S$100K per market
- Need viable overseas plan
SkillsFuture Enterprise Credit (SFEC)
- Automatic qualification for eligible SMEs
- One-time S$10K credit
- Covers training and transformation
- Only S$10K available
- Must be used by expiry
- Limited to training costs
Choosing the Right Grant for Your SME
Most SMEs benefit from starting with simpler grants (PSG, SFEC) before moving to larger transformation grants (EDG).
→ Start with PSG
Learn more→ Apply for EDG
Learn more→ Apply for MRA + EDG Market Access
Learn more→ Check your SFEC credit
Learn moreFrequently Asked Questions
For most grants, SMEs are defined as having ≤200 employees OR ≤S$100 million in annual revenue. Some grants have different criteria, so always check specific requirements.
Yes, you can apply for different grants simultaneously, as long as they cover different expenses. You cannot use multiple grants for the same cost item.
Log in to the Business Grants Portal with your CorpPass. Eligible employers will see their SFEC credit balance automatically.
PSG typically has the highest approval rate due to its straightforward requirements. EDG requires more preparation but offers greater flexibility.