SME grants 2026 offer up to 70% funding. Check eligibility, and how to apply for business support.

Singapore has increased SME grant support under Budget 2026, offering up to 70% funding to help businesses scale and digitalise faster.

Grant Scheme	Funding Support (2026)	Best For	Key Benefit
PSG	Up to 70%	Startups, SMEs	Digital tools & automation
EDG	Up to 70%	Growing businesses	Expansion & transformation
MRA	Up to 70% (capped)	Export SMEs	Overseas market entry
SFEC	Additional credits	All SMEs	Workforce & training

Key SME Grants Offering Up to 70% Funding

Productivity Solutions Grant (PSG)

The Productivity Solutions Grant (PSG) supports SMEs adopting pre-approved digital solutions.

Covers accounting software, HR systems, CRM platforms, and automation tools.
Funding support is now up to 70% of qualifying costs.

Best suited for businesses improving operational efficiency or starting digital transformation.

Enterprise Development Grant (EDG)

The Enterprise Development Grant (EDG) helps companies expand and upgrade capabilities.

Supports business strategy, process automation, and branding initiatives.
Eligible SMEs can receive up to 70% funding support.

Ideal for companies scaling locally or expanding internationally.

Market Readiness Assistance (MRA) Grant

The MRA Grant supports overseas expansion.

Covers market promotion, business development, and entry consultancy.
Funding is up to 70%, subject to caps per market.

Best for export-focused SMEs entering new regions.

SkillsFuture Enterprise Credit (SFEC)

The SkillsFuture Enterprise Credit (SFEC) focuses on workforce development.

Provides additional credits for training and transformation initiatives.
Supports long-term productivity improvements.

What’s New in Budget 2026

Increased Funding Support

Grant coverage has increased from 50–60% to up to 70%, lowering upfront investment.

Stronger Digitalisation Push

More solutions are now pre-approved, including:

• Cloud accounting systems
• AI-powered CRM platforms
• Cybersecurity tools

Startup-Friendly Enhancements

Startups can now qualify earlier with lower revenue thresholds and better co-funding support.

Faster Application Processing

The Business Grants Portal (BGP) now offers quicker approvals and simplified submissions.

Eligibility Criteria for SME Grants

To qualify for Singapore SME grants:

• Business must be registered in Singapore
• Minimum 30% local shareholding
• Meet SME criteria:
  • Annual revenue ≤ S$100 million, OR
  • ≤ 200 employees

Additional conditions may apply depending on the grant.

How to Apply for SME Grants in Singapore

Step 1: Choose the Right Grant

• Digital tools → PSG
• Growth & scaling → EDG
• Overseas expansion → MRA

Step 2: Prepare Documents

• ACRA business profile
• Financial statements
• Project proposal and cost breakdown

Step 3: Submit via Portal

Apply through the official platform:
[Link to Official Source – Apply Here]

Step 4: Wait for Approval

Processing typically takes 4 to 8 weeks, now faster under 2026 updates.

Step 5: Implement and Claim

Start only after approval, then submit claims for reimbursement.

How to Maximise 70% Grant Funding

• Combine PSG and EDG for broader coverage
• Focus on high-return projects that boost revenue
• Use pre-approved vendors to improve approval chances
• Plan cash flow as grants are reimbursed

Common Mistakes to Avoid

• Starting projects before approval
• Choosing non-approved vendors
• Submitting incomplete applications
• Underestimating project costs

Avoiding these improves approval success rates.

Why This Matters

Singapore SME grants are a core part of the country’s business funding ecosystem. With rising costs and competition, the increase to 70% support significantly lowers financial barriers.

For SMEs and startups, this enables faster adoption of digital tools, stronger global expansion, and improved productivity. Businesses that act early are more likely to secure funding before demand increases.

Future Outlook Beyond 2026

Singapore is expected to expand support in:

• AI and automation funding
• Green and sustainable business initiatives
• Internationalisation incentives

This positions SMEs for long-term growth in a competitive global market.

FAQs

What is the maximum SME grant funding in Singapore 2026?

Most major grants now offer up to 70% funding support for eligible SMEs.

Can startups apply for SME grants?

Yes, startups can apply if they meet requirements such as local ownership and registration.

How long does approval take?

Typically 4 to 8 weeks, with faster processing under Budget 2026.