Singapore SMEs have access to more government funding than at any point in the past decade — but the alphabet soup of EDG, PSG, MRA, SFEC, JGI and MDG can leave even seasoned business owners confused about which grant fits which purpose. Choosing wrongly wastes weeks of application effort and can disqualify a project from funding entirely, because Enterprise Singapore and IMDA are strict about scope overlap.
This 2026 comparison sets out the three flagship Singapore business grants side by side: the Enterprise Development Grant (EDG), the Productivity Solutions Grant (PSG), and the Market Readiness Assistance (MRA) grant. Read this before you scope your next project so you can pick the right funding pathway.
All three grants are administered by Enterprise Singapore. If you would like Raffles Corporate Services to shortlist grants against your specific initiative and prepare the application, we run a fixed-fee grant advisory service that has helped SMEs secure over S$40 million in cumulative funding.
Quick Comparison at a Glance
| EDG | PSG | MRA | |
|---|---|---|---|
| Purpose | Transformation projects | Off-the-shelf productivity tools | Overseas market entry |
| Support level (SME) | Up to 50% | Up to 50% | Up to 50% |
| Cap per project | No hard cap | Fixed by solution | S$100,000 |
| Cap per company | No formal cap | No formal cap | S$100,000 lifetime |
| Typical timeline | 6 – 18 months project | Purchase then claim | Up to 12 months per market |
| Application effort | High (proposal-based) | Low (pre-approved vendor) | Moderate |
| Ideal for | Bespoke consultancy, systems overhaul | Standard SaaS, POS, HR software | Overseas trade fair, market entry advisory |
Enterprise Development Grant (EDG): The Flagship Transformation Grant
The EDG is Enterprise Singapore’s largest and most flexible business grant. It funds bespoke, transformation-scale projects across three pillars:
- Core Capabilities — strategic reviews, business model transformation, financial management, human capital.
- Innovation and Productivity — process automation, product development, service redesign.
- Market Access — overseas market entry (where PSG and MRA don’t fit).
Support levels are up to 50% of qualifying costs for SMEs. There is no hard cap per project — a S$500,000 project could theoretically receive S$250,000 of EDG support, provided the case is strong.
Qualifying costs include third-party consultancy fees, software development, equipment (limited), and internal manpower directly tied to the project. Enterprise Singapore evaluates each proposal against three criteria: business impact, capability upgrading, and reasonableness of costs.
Who should apply?
EDG suits SMEs undertaking non-standard projects — a manufacturing productivity overhaul, a new export-market strategy requiring bespoke research, a digitalisation roadmap tied to a specific business model. If a pre-approved PSG solution or an MRA activity would cover the project, use those cheaper and faster pathways instead.
Application process
The applicant submits a proposal via the Business Grants Portal (BGP) at businessgrants.gov.sg. The proposal requires a diagnosis of the current state, the intended outcomes, a project plan with milestones, and a detailed cost breakdown. Enterprise Singapore may request follow-up interviews and site visits.
Total elapsed time from proposal submission to funding decision is typically 3 to 6 months. Claims are submitted after each milestone, and disbursement is by reimbursement.
Productivity Solutions Grant (PSG): The Off-the-Shelf Grant
PSG is the fast-track grant for pre-approved digital solutions. Enterprise Singapore maintains a catalogue of vetted IT solutions and equipment on the GoBusiness Singapore portal, each with a fixed price and a defined PSG support level.
Support is up to 50% of the pre-approved cost, subject to the specific solution’s cap. Common PSG-supported categories include:
- Accounting and financial management (Xero, QuickBooks, Jaz, Financio, MYOB).
- Human resource management (Talenox, Payboy, InfoTech HR, JustLogin).
- Customer relationship management (Salesforce Essentials, HubSpot, Zoho).
- Point-of-sale (Weebly, Storehub, QashierPOS).
- Inventory management (Cin7, Zoho Inventory).
- Cybersecurity (endpoint protection, SIEM).
- E-commerce platforms.
Sector-specific PSG lists exist for food services, retail, wholesale, logistics, precision engineering, construction and more.
Who should apply?
Any SME that wants to adopt a standard business software or equipment already on the PSG list. If the tool is not on the list, PSG is not available — look at EDG instead.
Application process
Applications are submitted through the Business Grants Portal after obtaining a quotation from the pre-approved vendor. Approval is typically granted within 4 to 6 weeks. After deployment, the applicant submits proof of purchase, invoices and deployment evidence to trigger reimbursement.
For SkillsFuture-related tools, PSG can stack with the SkillsFuture Enterprise Credit (SFEC) to defray the remaining out-of-pocket costs.
Market Readiness Assistance (MRA): The Overseas Expansion Grant
MRA supports SMEs venturing into overseas markets. It funds three categories of overseas activities:
- Overseas market promotion — trade fair participation, business missions, market surveys.
- Overseas business development — overseas market set-up (in-market entity setup, professional services fees).
- Overseas market set-up — in-market advisory including tax, legal, IP.
Support level is up to 50% of qualifying overseas costs, with a lifetime cap of S$100,000 per company across all overseas markets. Costs eligible include third-party consulting, in-market entity incorporation, in-market marketing, and business-development travel (subject to caps).
Who should apply?
SMEs entering a new overseas market for the first time (or expanding into a market where they have not generated more than S$100,000 in revenue over the past three years). Full detail on eligibility and claim procedures is in our MRA 2026 guide.
Application process
Applications are submitted via the Business Grants Portal. Approval is typically granted within 6 to 8 weeks. Overseas trade fair support is easier to approve than in-market set-up support, which requires a fuller business case.
Decision Tree: Which Grant Fits?
Ask these questions in order:
- Is the initiative overseas-focused (a new export market)? → MRA (unless the scope is transformational and needs EDG).
- Is the initiative a standard software / equipment purchase on the PSG list? → PSG.
- Is the initiative a bespoke transformation project not covered by PSG or MRA? → EDG.
- Does the initiative span multiple categories? → Structure it into distinct project phases and apply for the appropriate grant for each phase.
Enterprise Singapore prohibits “double funding” — you cannot claim two different grants against the same cost. But you can layer multiple grants against different components of the same broader initiative, provided the scopes are cleanly separated.
Eligibility Checklist (Common to All Three Grants)
To qualify as an SME under Enterprise Singapore’s framework, the applicant must satisfy all of the following:
- Registered and operating in Singapore.
- At least 30% local shareholding (Singapore citizens or PRs).
- Group annual sales turnover ≤ S$100 million or group employment ≤ 200 employees.
- Not on the government’s debarment list.
Non-SMEs may still be eligible for some tracks (e.g. selected EDG tracks) but at lower support levels.
Common Reasons Grant Applications Are Rejected
Enterprise Singapore does not publish rejection rates, but based on our practice we see the same failure patterns repeatedly:
- Insufficient business justification — the applicant fails to articulate concrete outcomes (revenue uplift, productivity gain, market share).
- Retroactive claims — expenses incurred before the grant approval date are ineligible.
- Cost padding — unrealistic consultant day-rates or duplication of internal costs.
- Weak vendor selection — consultancies without demonstrated track record in the applicant’s industry.
- Scope overlap with prior grants — attempting to fund the same scope twice.
Post-Approval: The Compliance Trap
Getting the grant approved is only half the work. Post-approval, applicants must:
- Deliver against the milestones as declared. Deviations require written approval.
- Maintain documented proof of every qualifying cost (invoices, payment records, deliverable acceptance).
- Submit claims within the timeframe (typically 6 months of project completion).
- Comply with post-project audits by Enterprise Singapore, including the retention of records for 5 years.
Failure to comply can result in clawback of disbursed funds and, in serious cases, debarment from future grants.
Beyond EDG, PSG and MRA: Other 2026 Grants Worth Knowing
These three are the workhorses, but Singapore SMEs should also consider:
- SkillsFuture Enterprise Credit (SFEC) — S$10,000 top-up to defray training and PSG costs. See our SFEC 2026 guide.
- Jobs Growth Incentive (JGI) — wage support for hiring locals.
- Startup SG Founder — S$50,000 for first-time founders with a mentor partner.
- Startup SG Tech — grants for proof-of-concept and proof-of-value for deep-tech ventures.
- Energy Efficiency Grant (EEG) — for equipment upgrades to more energy-efficient models (sectoral: F&B, retail, manufacturing).
Get a Grant Fit Assessment
Every SME transformation project can be sliced into components that match different grants. Sequencing them correctly — typically PSG first, then EDG for the bespoke elements, then MRA for the overseas expansion phase — can double the effective funding compared to a single-grant application.
Contact Raffles Corporate Services for a grant-fit assessment before you start any transformation initiative. We will map your project against the current EDG, PSG and MRA catalogues, flag scope overlap risks, and prepare the application documents that give your project the best chance of approval.
— The Editorial Team, Raffles Corporate Services