The technologically advanced world we live in has given birth to some progressive economies. These economies have a growing demand for startups, businesses, and entrepreneurs. Entrepreneurship is a skill that is being promoted as one of the necessities of today’s times.Various governments from all across the world, are coming up with various schemes and plans to promote entrepreneurs and create young job givers instead of job seekers. The enterprise development grant Singapore government issued is an example of one such promotional plan and idea. Everyone knows that startups require a huge amount of monetary funding, so the most obvious choice for a helpful measure is providing monetary funds to budding entrepreneurs.
How the enterprise development grant helps young entrepreneurs
Singapore’s government recognizes the fact that while they have some amazing and talented young minds, that come up with some of the most unique and exquisite ideas for businesses, these same minds lack the basic funds they need to set their project off the ground. A business has many elements like manufacturing, storage, etc and all these elements in themselves require huge investments. The enterprise development grant Singapore government issued aims at helping entrepreneurs set up their businesses and contribute to the economy.
In order to be eligible for the grant, one has to pass multiple testsand checkpoints.Since the grant is issued by the Singapore government, it is obvious that anyone eligible for receiving the grant has to be a resident of Singapore establishing and operating their business in Singapore itself. There are multiple other criteria as well.This grant in particular has been known to help young budding entrepreneurs looking to accelerate the growth of their business in a huge way. Many successful businesses credit this grant as the reason behind the success of their respective businesses
While this grant seems like everything a young entrepreneur can dream of, it is not as easy to secure it. Since it is one of the most esteemed grants there is, it is immensely difficult to secure it. However this grant is not the only scheme that has been put in place by the Singapore government. Various subsidies, provisional schemes, tax reliefs, and various other grants, with much more lenient eligibility criteria, also exist, to help entrepreneurs start their business from nothing. Entrepreneurship in itself is a skill that requires an aware mind and for a person to be good at a multitude of skills.