How to Apply for Digital Marketing Grants in Singapore ?

How to Apply for Digital Marketing Grants in Singapore ?

This article will tell you everything you need to know about Digital Marketing Grants in Singapore. We will tell you what kind of grants are available, how much you can apply for, eligibility criteria, how to apply, and other relevant information. Government grants typically support startups and SMEs which show promise in sustainable growth, with an objective to reduce the documentation process and establish an effective startup ecosystem. These companies can be key economic drivers in creating jobs, scaling economic growth and developing local communities. Stats published by doingbusiness.org (part of World Bank Group) show that Singapore ranks first in ease of doing business. One other highlight is that the Singapore government has come up with grants and support programs for different verticals of business. In brief, let us discuss how to apply for digital marketing grants in Singapore.

Need help getting a digital marketing grant? Call us now or just enter your email below.

Grants vs Loans

It is tempting to think of digital marketing grants as free money at your disposal. But in reality, securing a grant is a complex process and may consume a significant amount of time. Furthermore, every grant program requires the recipient to fulfill certain obligations and follow a strict compliance and reporting system. The benefits will be much higher from a grant when compared to a loan. In case of loans, regardless of who disburses it, you have to repay the money you borrow with interest.

Assuming you have considered the pros and cons of grants vs loans, and keeping in mind that you will have to work within the grant framework, take a look at these digital marketing grants by Singapore Government that will support your business.  

MRA Digital Marketing Grant:

Market Readiness Assistance grant is an initiative implemented by the Singapore government through its agency International Enterprise in order to provide financial support to overseas setup and market promotion.

For online marketing expenses, this grant program allows you to claim up to 70% of your costs, capped at SGD 20,000 per company per fiscal year, and you can only submit 2 applications per fiscal year.

  1. SEO – Search Engine Optimisation
  2. SMM (Social Media Marketing) Campaigns
  3. SEM – Search Engine Marketing
  4. Subscription on global ecommerce platforms
  5. Online Advertising campaigns

MRA assistance is mainly focused in 3 categories Knowledge resource, Learning and networking, and Financial Assistance.

MRA_Grant_Detail

The financial assistance component is implemented with a view to provide tax rebates, and cover expenses related to exhibitions and tradeshows.

MRA GRANT Eligibility Criteria

  • Annual turnover of less than SGD 100 million
  • SMEs with Global headquarters anchored in Singapore

MRA Application Process

Get your digital marketing grant in 5 easy steps.

MRA_Digital_marketing_grant

Key Points to Remember

  • The maximum allocated project completion time is 6 months
  • Important documents to carry –  Marketing plan, Recent audit report, Analytics reports etc
  • In addition to MRA Grant, companies cannot apply for Double Tax Deduction benefit for the same eligible expenses.

Capability Development Grant (CDG):

This grant offers 70% financial support for qualifying projects. The CDG helps to craft capabilities across ten different business realms ranging technology adoption for staff training to overseas expansion. The grant incorporates different capabilities that help your business grow on a  local and global scale.

Ten CDG Development areas are:

  1. Technology Innovation
  2. Brand and marketing strategy development
  3. Business excellence
  4. Financial management
  5. Business strategy innovation
  6. Enhancing quality and standards
  7. Service excellence
  8. Productivity improvement
  9. Human capital development
  10. Intellectual property and franchising

Eligibility Criteria

  • Applicants must be registered and operating in Singapore;
  • Must have a local shareholding of at least 30%; and
  • Annual sales of less than SGD 100 million or group employment less than 200 employees.

CDG application Process

Digital_marketing_grants_singapore

CDG grant application process

 

PIC scheme:

The Productivity and Innovation Credit (PIC) Scheme helps businesses to enjoy tax savings up to 400% or 40% cash payout for an investment of SDG 400,000 in the form of allowance and deduction. Where the 400% can be bifurcated into 100% base deduction/allowance and 300% enhanced deduction/allowance. For eg; If you are applying for an allowance for SDG 100000, then you will be entitled in securing additional allowance of 300% ( SDG 300000) from base amount. The PIC scheme is made possible under 6 different qualifying activities.

Six Qualifying Activities are:

  1. Acquisition and leasing of PIC IT and automation equipment
  2. Registration of trademarks, patents, design and plant varieties
  3. Training of employees
  4. Research and development
  5. Investment in design projects
  6. Acquisition and leasing of Intellectual property rights

Eligibility Criteria

  • All businesses including partnership companies, sole proprietorship
  • Foreign parent or holding company that has registered branches and subsidiaries

PIC Application Process:

PIC_Application_Process

Key points to remember while applying for Cash  Payout

  1. Once qualifying expenditure is converted into cash it cannot be claimed as tax deduction/ allowance.
  2. Amount of $400 is set as the minimum qualifying grant.
  3. Election to convert qualifying expenditure is irrevocable.
  4. Qualifying expenditure to convert into cash is the expenditure amount minus the grant or subsidy amount.

If you need any more help with your digital marketing plan, contact us right now for a free consultation and website audit.

Need help getting a digital marketing grant? Call us now or just enter your email below.

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By | 2017-02-08T06:00:31+00:00 October 17th, 2016|Digital marketing, SEO|0 Comments

About the Author:

A dreamer with a penchant for outdoor running, content creation is one of Nishant‘s forte. He thrives in challenging environments and is adroit in inbound marketing. His technical education and experience have enabled him to turn creative thoughts into written reality, His strategic research methodology made him Kamkash’s Research Champion.

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