SINGAPORE: As part of efforts to help businesses grow their capabilities, the Government will be consolidating existing grants to businesses into more streamlined programmes.
Senior Minister of State for Trade and Industry Sim Ann said in Parliament on Friday (Mar 2) that this is to make it easier for companies to apply for grants from various agencies.
An example she gave was the revamped Local Enterprise and Association Development (LEAD) Programme by Enterprise Singapore.
Grants to Trade Associations and Chambers (TACs) - such as Enterprise Singapore’s LEAD+ and TAC-led Collaborative Industry Projects - as well as the Singapore Tourism Board's (STB) Association Development Fund, will now come under a consolidated LEAD, she said during the Ministry of Trade and Industry's (MTI) Committee of Supply session.
Businesses who would like to apply for place management initiatives under the Urban Redevelopment Authority’s (URA) Business Improvement District scheme – such as Car-Free Zone’s Streets for People – can also now apply for grants under the new LEAD.
Launched by Spring Singapore and IE Singapore in 2005, the LEAD Programme was introduced to support TACs in their infrastructure and technological needs, and also in areas like business collaborations, intelligence and research.
It was further expanded in 2016 and 2017, helping even more companies with their internal needs.
“With consolidated LEAD support, TACs can spearhead holistic upgrading strategies that combine capability development with place management,” said Ms Sim. “Enterprise Singapore will work closely with URA and STB to ensure TACs can more easily understand and access the support to enable them in their industry transformation efforts.”
She added: “The Government and TACs have strengthened the support system in place for small- and medium-enterprises (SMEs) to transform and grow. The time is ripe for SMEs to step up in the journey of transformation.”
UNDER ONE ROOF
Companies applying for productivity-based grants can also now do so with the new Productivity Solutions Grant (PSG), said Ms Sim.
She highlighted how the new programme will streamline three existing grants – namely National Parks Board’s (NParks) Landscape Productivity Grant (LPG), SPRING Singapore’s Innovation and Capability Voucher (ICV) and the Infocomm and Media Development Authority’s (IMDA) ‘SMEs Go Digital’.
It will offer “pre-scoped solutions” developed by the industries’ lead agencies, where the Government will then "provide up to 70 per cent support". Ms Sim added that grant caps have also been “raised and customized” to better support businesses.
“One example of an industry-specific solution that will be supported under PSG is the Digital Ordering and Payment System,” she said. “ENBU, a Japanese restaurant in Suntec City, adopted a version of this system with support from SPRING.”
“The solution combines Tabsquare’s e-menu solution with PayPal’s payment solution. Customers have the freedom to order and pay without delay: there is no need to wait for staff to serve them,” Ms Sim cited. “For ENBU, the system has reduced cash handling, and increased productivity and efficiency. The solution has also freed ENBU’s staff to better serve customers’ needs.”
She added: “We hope to see more companies adopt similar solutions to enhance their productivity.”
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