If you’re having a problem sourcing funds for the design and development of your website, you’ll be glad to know that there are various government grants available for just this reason:
Innovation and Capability Voucher (ICV) Grant
This is a grant from SPRING Singapore. It consists of a $5,000 voucher that is aimed at encouraging SMEs to take the first necessary steps to the development of their capabilities. The voucher can be used by SMEs to strengthen or upgrade their core business operations. Activities can fall under innovation, human resources, productivity as well as financial management.
Productivity and Innovation Credit (PIC) scheme grant
The PIC grant is offered by IRAS. This grant allows businesses to enjoy a 400% tax deduction or obtain a 60% cash payout for investments they’ve made for the improvement of productivity or in innovation. These tax benefits are available to SMEs from Years of Assessment 2011 to 2015.
SMEs must have made an investment in any of the six qualifying activities. These are:
- Training of employees
- Acquisition or leasing of IT and automation equipment (check IRAS website for full list of qualifying equipment)
- Research and development
- Patent, design, trademark and plant variety registration
- Design projects that have been approved by DesignSingapore Council
- Intellectual Property Rights licensing acquisition
You can download the documents for making your claim from the IRAS website.
Increase SME Productivity with Infocomm Adoption and Transformation (iSprint)
iSPRINT is a grant available from IDA. It is aimed at addressing various issues faced by SMEs in the adoption of infocomm. The grant seeks to make it easier and more convenient for SMEs to obtain the assistance they need to help them in the adoption of infocomm. The grant is available only to 1st time adopters. Proposal templates and information about eligibility of businesses is available from the IDA website.
If you need more information on how to take advantage of government grants for web design contact us.