There are various startup schemes and government grants provided by the government in HarbourFront Singapore that you can benefit from. There are a number of business support grants for companies to help them overcome obstacles in their growth. Overall aim of these grants is to help businesses in capability upgrading and internationalization.
Government knows the important role that its startups and SMEs play in its economy and hence support these entities with business support grants. Financing is one of the most fundamental aspects of starting and growing your business. There are hundreds of government grants available for small businesses that help in saving money, lowering startup costs and helping grow your business.
Business support grants are small amount of seed money that further the goals of federal, state, or non-profit organizations. Unlike a loan, you don’t have to repay it. Most business support grants in HarbourFront are awarded to help launch a start-up or new business, with the aim to generate jobs and stimulate the economy. There are fewer grants available for established businesses.
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Government can assist businesses in two ways- financial help and administrative support. Understand what government grants are available to businesses. Grants are available to sole traders, partnership, limited companies and social enterprises.
Now grants aren’t just government funded as more and more organizations develop grants program in HarbourFront. Grants are now offered by government, private agencies, universities, corporations and humanitarians.
Business grants are available in all kinds of forms. Generally, business support grants are either a direct grant, equity finance or a soft loan. Direct grant is money given to your new business to cover startup essentials such as investment in equipment, training or reaching new markets. Equity finance, not strictly a grant, offers reduction in income tax on investment made in new businesses. Soft loans are actually loans with lower interest rates and more generous terms than other lending.
Federal government funding to state and local projects. In the country, Government grants are economic aid issued by the United States government out of the general federal revenue. A federal grant is an award of financial assistance from a federal agency to a recipient to carry out a public purpose of support or stimulation authorized by a law.
Grants are federal assistance to individuals, benefits or entitlements. A grant is not used to acquire property or services for the federal government's direct benefit.
Grants may also be issued by private non-profit organizations such as foundations, not-for-profit corporations or charitable trusts which are all collectively referred to as charities.
Outside the country grants, subventions or subsidies are used to in similar fashion by government or private charities to subsidize programs and projects that fit within the funding criteria of the grant-giving entity or donor. Grants can be unrestricted, to be used by the recipient in any fashion within the perimeter of the recipient organization's activities or they may be restricted to a specific purpose by the benefactor.
Federal grants are defined and governed by the Federal Grant and Cooperative Agreement Act. A Federal grant is a "...legal instrument reflecting the relationship between the Government and an other entity when 1) the principal purpose of the relationship is to transfer a thing of value to the other recipient to carry out a public purpose of support or stimulation authorized by a law of the United States instead of acquiring (by purchase, lease, or barter) property or services for the direct benefit or use of the Government; and 2) substantial involvement is not expected between the executive agency and other recipient when carrying out the activity contemplated in the agreement."
When an awarding agency expects to be substantially involved in a project (beyond routine monitoring and technical assistance), the law requires use of a cooperative agreement instead. When the government is procuring goods or services for its own direct benefit, and not for a broader public purpose, the law requires use of a federal contract. For charitable grants and funds for schools and organizations see: Grant writing and Grants.
There are over 10 grant programs offered by the federal grant-making agencies. These programs fall into 5 categories: Award information in grants generally includes:
Eligibility information includes:
Federal and state grants frequently receive criticism due to what are perceived to be excessive regulations and not include opportunities for small business, as well as for often giving more money per person to smaller states regardless of population or need. These criticisms include problems of overlap, duplication, excessive categorization, insufficient information, varying requirements, arbitrary federal decision-making, and grantsmanship (a funding bias toward entities most familiar with how to exploit the system, rather than to those most in need).
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Many programs can assist small business to access professional advice and support in critical early stages of establishing a business. While there are a lot of grants available, getting a business support grant from the government can be a challenge. Government grants are often complex with lots of processes and stages, and each grant will have its own requirements and criteria for applying.
While being awarded a grant is winning, they are notoriously hard to acquire. Not only are grants programs highly competitive, they can take months to process. Aside from finding one you’d be eligible for, you have to compete with other companies for the same. The other downside is that grants usually come with specific instructions on how you can use the money.
A grant for companies in HarbourFront Singapore can give your business a huge leg up and can be a great alternative to traditional finance. To apply for grants, first become familiar with the process. Eligibility for grants will vary depending on the grant in question.
Do your research. Identify programs that are a match for your business. Apply for the grant and submit eligibility requirements. Keep in mind that you’ll need to meet certain criteria to be eligible.
What is apprenticeship? Apprenticeship is a program that unites on-the-job training and classroom instruction under the direction of trade professionals in which workers learn the practical and theoretical parts of a skilled occupation. By completing an apprenticeship program, students will get real extra benefits for their life.
Employers sponsored an apprenticeship program. The sponsors of an apprenticeship program prepare, run, and pay for the program. Registered apprenticeship traditionally associated with the trades in construction, precision, craft and repair; apprenticeship is available in many other occupations.
An occupation in apprenticeship program is learned in a practical way through a structured, systematic program. It involves manual, mechanical, or technical skills and knowledge. It requires classroom instruction, correspondence courses, self-study, or other means of approved instruction.
Who is eligible? Students must satisfy the sponsor that they have the skill and education. Credentials or documentation may be required by the sponsor, include transcript of school subjects and grades, proof of age, high school diploma or general equivalency certificate (GED), etc. Maybe students need references from prior employers.
How to get into an apprenticeship program? Just contact the Department of Labor and Industries office in your area. Once you obtain the information, seek the programs listed to inquire about opportunities available. Then, you can contact the program sponsor concerning applying for the program.
It would be better for you to improve your basic skills before applying an apprenticeship program. To do it, search some preparation for apprenticeship trainings available in your area. You may also search in high schools, community and technical colleges and community organizations. If you need to improve basic skills before applying certain apprenticeship program, then those trainings is advised strongly.
There you attend the course, including basic tool usage, trades math, carpentry, electrical, cement work, painting, iron work, industrial safety, blueprint reading, forklift training, flagging, physical fitness and endurance, career exploration and job placement assistance. Even some students may get support funds available to low-income participants to buy items such as tools, work clothes and other equipments. In sum, with better preparation, you will have better ability and opportunity to have an apprenticeship experience.
Each scheme is different. Check you meet the general terms and conditions. Talk to the grant body to assess chances of success. Read grant objectives carefully. Have a great business plan.