Government Grants Assistance

Grants

Thousands of companies in Singapore have benefited from government grants, administrated by SPRING Singapore Assistance Support and other government bodies. These grants are set to assist companies in modernizing and upgrading their operational. These grants provides Singapore-based SMEs grants to hire external experts to improve your management and operations.

With the grant scheme, you can get a grant to engage an external consultant to implement quality management and IT systems. Project examples include ISO certification and upgrading computer systems.

Leasing

Financial

  • Match costs to benefits: Spread the lT costs over the life of the solution
  • Better cash and budget mgt: Predictable monthly/quarterly payment vs large cash outlay
  • Conserves cash: for income producing core business
  • Overcome capital shortage: Clients can acquire solution by relying on future cash flow
  • Favorable impact to Income and Financial Statements

Business & Operational

  • Keep Business on Leading Edge: Install now and gain technology advantage over competition
  • Simplicity: One contract, one invoice

Technology

  • Avoid technology obsolescence
  • Makes technology upgrades easier

We are able to consult you in the following areas:
* Application of the grants
* Leasing program 

 




Local Enterprise Technical Assistance Scheme (LETAS)


Overview

The Local Enterprise Technical Assistance Scheme (LETAS) provides grant for enterprises to engage external consultants to implement quality management and IT systems, including ISO certification and upgrading of computer systems.

LETAS subsidises up to 50% of the costs of hiring the consultant#. The funding support for IT projects does not cover hardware and software costs. Funding support for Quality Management system projects does not cover certification fees.

# For Quality Management System and IT E-commerce projects, it is subject to a maximum grant cap of $5,000 or 50% of consultancy cost (whichever is lower). For IT implementation projects, it is subject to a maximum grant cap of $10,000 or 50% of consultancy cost (whichever is lower).


Criteria

You can apply for the Local Enterprise Technical Assistance Scheme if your company meets these criteria :
• registered or incorporated in Singapore
• at least 30% of your shareholding is local
• your company’s group fixed assets are worth below $15 million*
• you have not more than 200 employees (for companies in the services sector)*
* Computed on a group basis i.e. checking up to three levels for corporate shareholders holding 20% or more of the total shareholding in the company and one level down where the company holds more than 50% of the shareholding in a subsidiary company


How to apply?

Before you apply


1. Read the LETAS Terms & Conditions (WORD format, 48kB) for more details.
2. Find a consultant for your project.
3. Obtain a Project Proposal from your consultant. For IT projects, please use the LETAS Implementation / E-Commerce Consultancy Format (Word format, 45kB).
4. Ensure that the project and business both qualify for LETAS.
5. Prepare all the supporting documents :
o business' latest profile from ACRA
o financial statements
o Consultant Project Proposal
o Consultant CV
Applying for LETAS
6. Download the LETAS Application Form (WORD format, 281kB).
7. Submit the Application Form with all the supporting documents.
8. Wait 2 - 3 weeks for SPRING to reply. You can start on your project 1 day after submitting your application form - it will not affect the outcome in any way. Bear in mind that your application may be rejected. 
Upon successful application
9. Receive Letter of Offer, LETAS Claim Form (WORD format, 227kB) and LETAS Terms & Conditions (WORD format, 48kB).
10. Start on the project within 6 months of receiving the Letter of Offer.
11. Keep proper financial records. E.g. expenses, invoices, receipts relating to the project.
12. Keep proper project records. E.g. scope, timeline, deliverables, progress reports, project sign-offs, and evaluation reports.
13. Get your consultant to provide a LETAS Consultant Assignment Report (WORD format, 23kB). You will need this report to claim for funds.
14. Pay the consultant in full before submitting your claim. 


Claiming for funds

15. Complete and submit LETAS Claim Form (WORD format, 227kB) and LETAS Declaration Form (Word Format, 87kB). Attach the supporting documents :
o o invoices
o o receipts (including cheque number)
o o bank statements (to show payment and clearance of cheques)
o o Consultant Assignment Report
o o project sign-off (for IT implementation/E-Commerce)
Note : Claim must be received within 6 months from the scheduled completion date of the assignment. Otherwise, the offer of the grant shall automatically lapse.
16. Wait 3 - 4 weeks to receive the funds. To receive funds through interbank giro, complete and submit the Giro form (PDF format, 96kB) with your Claim form. Applicants not on the giro scheme will be given a cheque.