Business

6 Essential Documents for EDG Grant Submission

6 Essential Documents for EDG Grant Submission

Small and medium enterprises (SMEs) are often on the lookout for opportunities to enhance their operations and expand their reach. One such opportunity is the Enterprise Development Grant (EDG), a funding program designed to support businesses in Singapore to upgrade, innovate, and venture overseas. To maximize the potential of this grant, businesses must prepare and submit the necessary documents with accuracy and precision. Here, Finnex highlights the six essential documents required for a successful EDG grant submission.

1. Business Proposal

A well-structured business proposal is the cornerstone of your EDG grant submission. It should outline your company’s goals, the specific project you are seeking funding for, and how this project aligns with your business’s strategic objectives. The proposal should be clear, concise, and compelling, demonstrating the project’s potential impact on your business growth and overall competitiveness.

2. Detailed Project Cost Breakdown

A detailed project cost breakdown is crucial to justify the amount of funding you are requesting. This document should provide a comprehensive list of all projected expenses related to the project, including manpower, equipment, software, and any third-party consultancy fees. Clear documentation of costs not only strengthens your application but also helps ensure transparency during the project’s execution phase.

EDG grant

3. Quotation from Service Providers

To further substantiate your project cost breakdown, you must provide official quotations from your service providers. These could include consultants, technology providers, or equipment suppliers who will play a role in the execution of the project. Accurate and competitive quotations are essential to demonstrate the feasibility and financial prudence of your proposed budget.

4. Latest Audited Financial Statements

The latest audited financial statements are required to provide evidence of your company’s financial health and its ability to manage the grant funds effectively. Typically, these should include the balance sheet, income statement, and cash flow statement for the past two fiscal years. A strong financial position, as demonstrated through these statements, will enhance your credibility, and increase your chances of grant approval.

5. Proof of Project Viability

In addition to financial documents, you will need to submit evidence that your project is viable and capable of achieving the intended outcomes. This could include market research reports, feasibility studies, or letters of intent from potential customers or partners. This documentation will reassure the grant committee that your project is well-planned and has a high likelihood of success.

6. Company’s ACRA Profile and Business Registration Documents

You must include your company’s ACRA profile and business registration documents. These documents verify your company’s legal standing and eligibility for the grant. The ACRA profile should reflect your company’s registration number, business activities, and directors, while the business registration documents confirm that your company is registered and operating within Singapore.

Media contact details:

Business Name: Finnex Singapore

Contact Name: Kei Chia

Contact Email: enquiry@finnex.com.sg

Address: Kei Chia

1, North Bridge Road, High Street Center,

#22-05 Singapore 179094

Phone: +65 6970 1197

Website: https://finnex.com.sg/