The Singapore Government offers types of various financial assistances, to help Singapore enterprises to diversify their markets, continue exploring overseas opportunities for long term sustainability and strengthen core competencies to compete more effectively in international markets. The Government provides financial assistance for any company wanting to purchase fixed assets like equipment and machinery, plant and building and for daily operations or working capital requirements
The business activities for which the entrepreneur can approach the Government for assistance in Singapore are:
- Professional expertise to improve business.
- Foreign companies wanting to establish its headquarters in Singapore.
- Training and development for employees.
- Up gradation of technology.
- Domestic companies entering into joint ventures with International firms.
- Reduction in taxes.
- Identifying premises suitable for business.
- Assistance to improve productivity.
The Government also provides assistance in terms of marketing and business development to businesses wanting to:
- Venture Abroad
- Expand the market for their product or services
- Participate in International events.
The Government in Singapore has formulated stringent laws to protect product development and innovation. Companies can resort to legal remedy:
- To protect ideas and inventions
- Develop media related product.
- Develop a new product, process or service.
Other than these assistances, the Government has put in place programmes to help businesses to build their brand. It also provides grants to train infocomm and key non-infocomm professionals in critical, emerging and specialized infocomm technologies.