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The Singapore Government is a strong advocate of local SMEs. Various grants and schemes are in place to boost productivity and business growth for SMEs.

40 %
Software & Hardware
Productivity & Innovation Credit (PIC)

Option to convert up to $100,000 of total spending in all six activities for each YA into a non-taxable cash payout, in lieu of the tax deduction / allowance

For qualifying expenditure incurred on or after 1 August 2016 to YA 2018, the cash payout conversion rate will be at 40%

70 %
Capability Development Grant (CDG)
By SPRING Singapore

Support SMEs to scale up business capabilities and ensure business sustainability

Defrays up to 70% of qualifying project costs

  • This grant is under SPRING Singapore. All applications are subject to approval. For more information, please visit
Eligibility For Grants
Registered and operating in Singapore
Have a minimum of 30% local shareholding
Have group annual sales turnover of not more than $100m or group employment size of not more than 200 employees