Government Grant To Start Your Own Business – If you’ve ever been confused by the myriad of government grants and programs available, the new GoBusiness Gov Assist aims to solve the problem with its online advisor service.
This service is especially timely now. Many businesses are still struggling with the impact of COVID-19 and may need additional government support to get through these difficult times. At the same time, some companies are taking advantage of accelerating trends to accelerate their growth and can use the government’s additional firepower to expand.
Government Grant To Start Your Own Business
GoBusiness Gov Assist replaces the old SME portal which was discontinued on September 1, 2020. Instead, the content of the SME portal is moving to GoBusiness Gov Assist and Enterprise Singapore (ESG).
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GoBusiness Gov Assist aggregates all grant-related queries, including productivity solutions grant lists and GeBiz alerts. Non-grant related information such as booking appointments for SME assistance and business counseling sessions can be found at Enterprise Singapore.
The advantage of the new online e-adviser service is that you don’t have to browse to find all the grants and programs that apply to you. Instead, an e-consultant will ask you a few questions to narrow down the grants and programs that meet your needs.
Also, you do not need to log in to CorpPass or enter a corporate ID to use the Service. To get started, click the Get Started with E-Advisor button on the home page.
Once you click, you will be asked to identify your business needs. You can choose 2 options out of 10 each time. If you have more than 2 business needs, you can restart e-advisor another time with your other needs. By focusing on just 2 core business needs, it forces you to prioritize what is critical to your business right now and focus on the demonstrated grant outcome.
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To illustrate, you have selected “Help my business through COVID-19” as your key business need and your specific need is “Get loans to ease cash flow problems”.
You have selected “Improve work systems” as your secondary business need and the specific need is “Implement flexible work systems”.
Clicking on specific needs can bring up sub-options. For example, the option “Get loans to reduce cash flow problems” brings up additional options.
Next, you need to enter some basic details about your business. This is primarily to help e-advisers narrow down the subsidies and schemes applicable to your business. Some grants and programs have criteria related to ownership, size of revenue, or years of operation.
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This step will take you to all relevant programs that e-Advisors have identified as relevant to your business. The thumbnails provide a brief description of what the program is, and each program is labeled by type (e.g. “Loan”, “Grant”, “Toolkit”). It provides a simplified overview of related projects.
Clicking on the “Learn More” link for each program will take you to the relevant agency’s webpage, where you can get more details about the programs and the application process.
You also have the option of sending your results to your email address so that you can use them as a reference later.
If your business has cash constraints, you can also count on your commercial banking partner to facilitate your application. For example, if you do business with OCBC, they will eventually disburse loans through the Temporary Bridge Loan (TBL) program. You can also take advantage of other government-subsidized business loans, such as the Working Capital Loan for SMEs.
Finance And Support For Your Business
As an online advisory service, GoBusiness Gov Assist makes it much easier than the previous method of browsing through the latest programs to identify those relevant to your business. Plus, it pulls results from various government agencies so you don’t have to sift through them all. While the results may not be entirely relevant once you dig deeper into program eligibility criteria, they provide businesses with a solid starting point.
Additionally, it still preserves the original functionality of the SME Portal as a central repository of government grants and programs for SMEs. All things considered, it’s a credible one-stop-shop for SMEs looking to navigate through myriad government grants and programs.
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Employers must give notice or pay in lieu of notice to employees requesting leave. Starting a new business or maintaining an existing business is fraught with challenges, especially in an economic landscape marked by uncertainties caused by the Covid-19 pandemic. However, there are also opportunities to be seized as Singapore and the world undergo digital transformation.
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Are you a fast-growing Singapore-based infocomm media company or a startup with a promising and innovative solution? If so, this is for you. [email protected] helps open up more opportunities to present your products and solutions to a wider audience – at home and abroad.
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For businesses seeking government grants, this one-stop portal helps you quickly find and apply for the grants you need. The website is currently in beta and more grants from various agencies will be introduced in phases.
Calling all Singaporean companies looking to build capacity, innovate and/or internationalize – Enterprise Singapore wants to lend a hand.
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Whether you are a start-up or a high-growth company, ESG offers support based on your company’s growth stage, industry and the overseas market you wish to expand to.
With over 100 government programs available to support local businesses, it can be overwhelming for businesses to navigate and find the one that applies to them.
GoBusiness Gov Assist provides information on the various support options available as you grow your business – all in one place!. Do you have more questions? E-Advisors are also at your disposal to help you.
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Singapore-registered business owners can log in through Corpus, provide consent and have their data pre-populated for participating services. More B2B services will be introduced and developer tools will be made available soon to facilitate the technical implementation of businesses.
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The program covers business needs, including accounting software, digital ordering and payment, fleet management and productivity tools such as cybersecurity, data protection and data analytics.
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The program supports collaboration between public sector research institutions, private sector technology providers, higher education institutions, trade associations and chambers (TACs) and private sector systems integrators.
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