Singapore Landscape

It is important for the Company to have financial management capabilities to achieve the Company’s objective and increase shareholder’s wealth by managing the Company financial assets effectively. Areas of financial management includes (but not limited to) cash-flow management, budgeting process, projection of results and strengthening of controls of financial assets in the Company.

Innovation & Capability Voucher (ICV)
Introduced in 2012 by Spring Singapore, the Innovation & Capability Voucher (ICV) is a simple to apply, easy-to-use voucher valued at S$5,000, to encourage SMEs to take their first step towards capability development. SMEs can use the voucher to upgrade and strengthen their core business operations through consultancy in the areas of innovation, productivity, human resources and financial management. Apart from consultancy, ICV also supports SMEs in the adoption and implementation of simple solutions to improve business efficiency and productivity. SMEs can use ICV to implement productivity solutions under the supportable cost categories of (i) equipment & hardware, (ii) technical solutions & training, (iii) design & renovation. Each SME is entitled to a maximum of eight vouchers. Each ICV project must be completed before the submission of a new application. The duration for each project should not exceed six months.

Capability Development Grant (CDG)
The grant defrays up to 70 percent* of qualifying project costs such as consultancy, training, certification and equipment costs. You can take on large scale upgrading projects in areas such as increasing productivity, process improvement, product development and market access.

* SPRING's enhanced funding support of up to 70% would be effective for three years until 31 March 2015.