The Business Grants Portal (BGP) guide for SMEs in Singapore
In the dynamic landscape of business, staying competitive often involves harnessing the power of grants and financial support. For small and medium-sized enterprises (SMEs) in Singapore, the Business Grants Portal (BGP) is a valuable resource. This portal offers a wide array of grants and assistance programmes to boost your business’ productivity. In this guide, we'll take you through the ins and outs of the Business Grants Portal, addressing frequently asked questions and offering tips to maximise your chances of a successful grant application.
What is the Business Grants Portal (BGP) in Singapore?
The Business Grants Portal (BGP) is a one-stop platform designed to simplify the process of applying for grants and assistance programmes offered by various government agencies in Singapore. It streamlines the application process and provides easy access to information about available grants, reducing the administrative burden for businesses.
What can I do on the Business Grants Portal (BGP) as a company in Singapore?
As a company in Singapore, the Business Grants Portal offers several key features and benefits:
Browse grants: Explore the wide range of grants and assistance programmes available to SMEs in Singapore.
Apply for grants: Submit grant applications conveniently through the portal, reducing paperwork and simplifying the process.
Check eligibility: Determine your eligibility for specific grants and get a clear overview of the criteria.
Monitor progress: Keep track of the status of your grant applications and claims in one place.
Access information: Access valuable resources and guidelines related to grant applications.
Receive notifications: Receive email notifications regarding the progress and status of your applications.
What are the available grants on the Business Grants Portal (BGP)?
The Business Grants Portal offers a variety of grants and assistance programmes from different government agencies, each tailored to specific business needs. Some of the common grants available include:
Business Improvement Fund (BIF): Encourages technology improvement and adoption and the redesign of business models and processes in the tourism sector.
Aviation Development Fund: Supports the development and growth of the aviation industry in Singapore.
Agri-food Cluster Transformation (ACT) Fund: Supports the transformation of the agri-food sector into one that is highly productive, climate-resilient, and resource-efficient.
Experience Step-Up Fund (ESF): Supports the development and enhancement of Singapore’s tourism experiences that increase the attractiveness of Singapore to visitors.
Do check out the official Business Grants Portal (BGP) website for the most up-to-date and comprehensive list of available grants, as the availability and criteria for grants may change over time.
What do I need to apply for grants on the Business Grants Portal (BGP)?
Before you start the application process on the Business Grants Portal, gather the following essential information and documents:
Corppass account: Corppass is a corporate digital identity that businesses and other entities need to go through to apply for grants on the Business Grants Portal.So ensure you have a registered and approved Corppass account to apply for grants in the Business Grants Portal.
Visit the Corppass website and click on "Get Started" to begin the registration process.
Fill in your organisation's details, including your Unique Entity Number (UEN).
Select the relevant roles and permissions for your Corppass account.
Add users to your account and allocate roles as needed.
Review the information, confirm your registration, and wait for approval.
Once your Corppass account is approved, you'll be ready to access the Business Grants Portal.
Business details: Have your company's UEN and other essential business information ready, and your Accounting and Corporate Regulatory Authority’s (ACRA) profile will be automatically filled in as soon as you enter the UEN.
Project details: Clearly outline the project or initiative for which you are applying for a grant. Be prepared to provide specific project details, objectives, and expected outcomes.
Budget and costs: Prepare a detailed budget plan, including quotations, invoices, and cost breakdowns.
Eligibility check: Review the eligibility criteria for the grant you are applying for to confirm your business qualifies.
What are the steps to apply for a grant on the Business Grants Portal (BGP)?
The process of applying for a grant on the Business Grants Portal is straightforward. Here are the steps you should follow:
Select “Apply for Grants”: In the portal, click on the "Apply for Grants" option to initiate the application process.
Choose your grant: From the list of available grants, select the one that aligns with your project or business needs.
Check your eligibility: Confirm that your business and project meet the eligibility criteria for the selected grant.
Complete the application form: Complete the grant application form with accurate information about your contact details, business details, project, objectives, and associated costs/package.
Attach the required documents: Upload all necessary documents, such as quotations, invoices, and other supporting documents, to support your application.
Review and submit: Thoroughly review the application to ensure all details are accurate, then submit your application.
Accept your Letter of Offer: Once your grant is approved, you will receive your application results via email. Then, all you need to do is log in the BGP to accept your Letter of Offer.
What are some useful tips to ensure a successful grant application?
Applying for a grant can be a lengthy process. Here are some friendly tips to boost your chances of success:
Tip #1: Stay updated on new grants
Set up tools like Google Alerts to keep you informed about the latest grant opportunities.
Tip #2: Check eligibility criteria
Each grant has its own set of eligibility criteria, which may depend on factors like business size, nature, and format. Your revenue and regulatory compliance will also be considered. Make sure you meet all the criteria before applying.
Tip #3: Seek professional advice
Connect with a grant specialist when a new grant is announced. They can assess the likelihood of your application's success and offer valuable insights to improve your chances of approval.
Tip #4: Prepare a sufficient budget plan
Ensure that your budget plan is well-detailed, realistic, and supported by accurate cost breakdowns.
Tip #5: Prepare supporting documents
Prepare all necessary documents and ensure that your application is in an editable format. Save it as a draft and create backups to ensure all your hard work is preserved.
Tip #6: Follow the application procedures
Provide clear, concise answers to the application questions, and submit your application well before the deadline to avoid last-minute rushes.
Tip #7: Double-check the details
Review your application for accuracy and ensure that you tailor your answers to align with the grant priorities and your business goals before submission.
Remember, you've got this! Good luck on your grant application journey!
How do I file for a claim on the Business Grants Portal (BGP)?
A huge congratulations if your grant application is approved! Now, let's delve into the detailed steps you should follow when filing a claim on the Business Grants Portal.
Step 1: Log in to the Business Grants Portal (BGP)
Log in to the Business Grants Portal (BGP) website using your Corppass credentials. Make sure you have your Corppass username and password ready.
Step 2: Select "File a Claim"
Once you are logged in, look for an option that allows you to "File a Claim" or a similar phrase. Click on this option to begin the claim process.
Step 3: Choose your grant
Choose the grant for which you are filing a claim. Make sure it corresponds to the grant you were approved for.
Step 4: Complete the claim form
You will now be directed to a claim form. This is where you will provide details about your project, expenses, and other relevant information. Fill out the claim form accurately. Be sure to double-check all the details to ensure they are correct.
Step 5: Attach supporting documents
Upload all necessary supporting documents, including invoices, receipts, quotations, and any other relevant files. Ensure that the documents you upload are clear and legible, as these will be used to validate your claim.
Step 6: Review and submit
Before submitting your claim, double-check the accuracy of your claim form and the completeness of your attached documents. Click the "Submit" or "File Claim" button. This will initiate the claim submission process.
Step 7: Await processing
After you've submitted your claim, it will undergo a processing period. The processing time may vary depending on the grant and other factors. During this time, you can check the status of your claim through the Business Grants Portal.
Step 8: Claim disbursement
If your claim is approved, congratulations! The grant amount will be disbursed to your business account. The disbursement process may also take some time. Be sure to monitor your account for the arrival of the grant funds.
Leverage grants on the Business Grants Portal to support your business growth!
Unlocking the doors to business growth has never been more accessible! The Business Grants Portal stands as a beacon for SMEs in Singapore, offering a treasure trove of grants and assistance programmes to fuel your business aspirations.
Navigating the path to success is now made easier when you understand the ins and outs of the application process and follow the guidelines laid out. So, don't be shy - leverage this invaluable platform not just to apply for grants but to truly elevate your business game. Consider it your ally in the quest for growth and development. Remember, every successful application is a stepping stone towards your business's full potential.
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