Earning a livelihood through something that a person loves and has immense expertise is almost everyone’s dream. It is tough and tedious to maintain a business but the fact that these business houses when sponsored and assisted by bigger business gurus with a little bit of guidance will work wonders. The best part about these small-scale and cottage industries is that they are very creative in what they do and are most probably known for their outstanding problem-solving resolutions. However, more than these business houses need the consumers, the consumers need these companies for simply being “affordable” and “approachable” but the only problem is lack of funds. To solve this problem, countries like Singapore give away edg grant singapore (Enterprise Development Grant) to companies and small business owners to expand their business for better growth and opportunity.
How will this allowance help these business owners?
It is everything a business owner looks forward to. There has to be some amount of money to bear all the expenses for all types of innovations, to clear debts, to employ people and pay their salaries, taxes, land rents, etc. This is a huge help to these startups or even to revive a dying business.
How many funds does it give to the business owners?
Funds are allocated according to the nature and type of the business a person owns. EDG Grant Singapore bestows up to 70% of the costs for small-scale companies and 50% for bigger companies, who generally have a larger turnover than the smaller ones.
The entire idea of these funds is to help these companies grow, produce innovative and good quality products while also generating employment.