ISO consultancy and FAQ for the Enterprise Development Grant (EDG)

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FAQ for Enterprise development Grant (EDG)

Enterprise Development Grant:

The enterprise development grant covers up to 90% of qualifying project costs such as Consultancy fees, training fees, and certification costs.

To be eligible for the Enterprise Development Grant (EDG)

 

You need to:

  • Be registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project

The EDG awarded by Enterprise Singapore, is aimed to help Singaporean companies gain internationally recognised standards and certifications which will in turn help businesses gain international credibility.

FAQ for EDG:

What is EDG?

EDG is the short form for Enterprise Development Grant. This grant was announced in the Annual Budget 2018. In short, EDG is a grant for established local SMEs (Small Medium Enterprises) to help them grow and transform their businesses.

Does EDG cover basic management systems like ISO 9001?

No. EDG does not cover basic management systems like ISO 9001, ISO 14001, and ISO 45001. The ISO services covered have already been listed.

How much funding can I get?

You can get funding up to 90%. However, most SMEs will get up to 80% funding only. Before COVID-19, the original support level was 70%. To fight against the impending recession, the Supplementary Budget aka Resilience Budget 2020 raised the support level to 80%. Only SMEs severely affected by COVID-19 will get the maximum support level of 90% on a case-by-case basis and as determined by ESG.

When will EDG end?

At Budget 2019, EDG’s 70% support level was to end on 31st March 2023. The new support level of up to 80% to 90% will end on 31st December 2020.

Who approves EDG?

Enterprise Singapore (ESG), gives the final green light to all EDG grants.

What is the maximum grant?

That depends on the scope of the project. The grant is correlated to the size of the company in terms of turnover and manpower. We do not have the exact algorithm nor science on this.

Am I eligible for EDG?

To be eligible, you are required to:

  1. Have a registered company and operating in Singapore
  2. Have at least 30% local shareholding
  3. Be in a financially viable position to start and complete the project.

What does it mean by “Be in a financially viable position to start and complete the project”?

Based on our previous experience, a company should have a reasonable amount of turnover for the past three years. The 3 years audited accounts will be required when you apply for the grant.

Is there a minimum employee size?

Our experience tells us that it should not be zero or just one. And the project sum must justify the size of the company. A good number should be 5 employees and they should not include directors, partners or owners.

Is there a KPI (Key Performance Indicator) for an EDG project?

Yes. With effect from 1 April 2020, SMEs will need to commit to improving workers’ outcome, such as creating more jobs or increasing wages.

So, are startups eligible for EDG?

In general, startups are not eligible for EDG. If you are a startup, you can look at the ecosystem meant for startups: Startup SG network.

What do you mean by certified consultants?

From 1 January 2017, if you engage consultants, they need to be certified management consultants. SMEs should ensure that consultants involved in EDG must possess Enterprise Singapore-recognised certification; failing which Enterprise Singapore reserves the right not to support the consultancy fees incurred.

It looks complicated. Can you help us fill the application form?

If you have officially appointed us as your consultant, we are more than happy to guide you along.

What other supporting documents do we require for the application?

You need the following:

  1. Your project proposal
  2. Latest ACRA search results
  3. Past 3 years audited financial statements (including latest year)
  4. Our consultant’s proposal and
  5. Our consultant’s certifications.

Can you help us write the project proposal?

If you already appoint us as your consultant, we will write the project proposal for you.

How long do I have to wait to know the results of my application?

10 days to 1 month.

Can I start on an EDG project whilst applying for EDG?

In general, no. It is best to obtain an official letter of offer from Enterprise Singapore before commencing the project. It means that you should not have already begun on the project before your application has been approved. Neither should you have made payment to service providers or suppliers involved in the project.

Will you help us to do claims?

After you engaged our consultancy services, we will advise you accordingly how to make a claim.

How can QES help us with EDG?

We will guide you through the entire process step by step.

How many EDG Grants can I apply for?

In theory, there are no restrictions on how many EDG Grants you can apply for. Currently, ESG allows you to apply and work on more than one EDG project at any given time. However, you can only apply for an EDG grant in a specified area once. This means that if you are awarded an EDG grant for Branding and Marketing once, you are no longer eligible for another EDG grant under the same category that is Branding and Marketing. However, you can still apply for EDG grants under other categories.