There is no denying that the backbone of the Singapore economy lies within the start-ups and the SMEs. The powerhouses that drive the economy, start-ups and SMEs are responsible for employing almost two-thirds of the country’s workforce.
Which is why the government and relevant authorities try to support these entities in every way they can through a number of government grants for Singapore companies which help them overcome obstacles they may face on the path towards business growth after company incorporation.
The government, together with IE Singapore and SPRING work through as many as 40 Trade Association and Chambers (TACs) to help implement the Local Enterprise and Association Development (LEAD) program. The overall aim here is to help local business entities capitalize on their upgrading and internationalization.