One thing for sure, cash flow is the bane of many business owners who often turn to conservative measures to keep finances in balance. One way is to adopt the use of technology to reduce cost of manpower and with the help of some available Singapore website design grants by local authorities, companies will be able to increase innovation and productivity through the means of information technology.
In Singapore, running a business requires a large amount of capital and operating costs so owners are encouraged to upgrade using modern day computing technology into their day to day activities in an effort to reduce long term expenditure.
Productivity and Innovation Credit Scheme (PIC) by IRAS
As such, the Inland Revenue Authority of Singapore (IRAS) has given the green light for business owners to take advantage of the Productivity and Innovation Credit (PIC) Scheme. This is an example of one of the few Singapore website design grants allowing companies and businesses to start their own websites and other informational technology software.
Application isn’t so straight forward though. The authorities will assess to ensure that applicants are really in need of such funds and to kerb any form of abuse.
There’s a list of requirements to fulfil.
The company or business needs to be an active organisation in Singapore.
The company or business needs to have at least 3 Singaporean staff excluding the business owners, partners or shareholders.
Usage of equipment
Any equipment reimbursed by the scheme will need to put to use.
IRAS regularly holds seminars on this scheme so it may be beneficial to register for it to get an insight on how this scheme can help you.
Capability Development Grant (CDG) by Spring Singapore
Another scheme that is aimed at helping Singaporean businesses is one by Spring Singapore and is called Capability Development Grant (CDG). Under the Growing Business initiative, this web design grant is a financial assistance programme which defrays up a large portion of project costs.
To qualify, these few conditions must be met below.
The company or business needs to be locally registered in Singapore and actively running.
The company or business needs to have at least 30% local shareholding.
Turnover and employment
Annual sales turnover of at least $100m or below or up to 200 employees or below.