July 31, 2016
Looking for some free money and help from the Singapore Government to start your small business. Then you have landed on the right place as today we are going to discuss about the governmental plans.
Despite what you might have been hearing till now, governmental grants are rarely available for small sized businesses but why?
Well, the governmental grants are made for the large businesses, there have been a shift towards the small and medium sized sectors and that can help them to grow and sustain this competitive business world and also enhance their operation and procedures with least expenditure. Here are answers to some of the most common questions regarding the Governmental Grants for CDG:
Is the CDG Grant available for those who want to start and grow their own small business?
Well, no! The CDG grant has been made and innovated for those who are already running their business and looking for some upgrade to their business. The grant does not provide support to any firm who is involved in the below mentioned activities:
- Starting a business
- Paying off debt
- Covering operational expenses
The grant is made available for certain industries like innovation and technology, human resource development and others.
What if I’m involved in R&D? Can I get a grant?
It might be possible but the CDG grants do not mentions of provide any kind of support to those who are in the research and development sector.
Doesn’t the CDG offer small business financing?
The capability development grant has been specifically made for the small and medium sized enterprises. The good news is that it administers loans to small sized businesses to collect the capital they need to develop their capability and innovation through some advanced procedures or operations.
Is the CDG Grant available for all?
While we can roughly say that it deals with all the sectors and domains of businesses but it won’t be wrong to say that you need to check their list of development area support along with their terms and conditions for the enrolment foe availing the grant. The basic aim is to produce some value added services and money for the small and medium firms and make them self reliant and better.
The bottom line
If you actual need capital and financial assistance then do not waste your time and pursue for the free money. Chances are that you might not find them through business loans or credit cards but within the aids provided by the governmental agencies. The 70% flexibility to the overall cost of the operation is nothing less than a blessing in disguise and can pave ways for you to make a debut in the list of top companies in Singapore.