Governement Grants for Restaurants

What are the Various Government Grants for Restaurants Singapore? Steps to apply for Grants.

Introduction

Strong trade and investment along with various grants from the Government attracts lots of startups to Singapore. It is the easiest place to do business.

Content

  1. Checklist to open a restaurant?
  2. Benefits of starting a business in Singapore
  3. Grants available in Singapore for Restaurants
  4. Eligibility criteria for the Grants
  5. Steps to apply for the Grants
government grants for restaurants in singapore

To open a restaurant a checklist needs to be fulfilled, the checklist is as follows

  • Incorporation of a company
  • Identifying the location
  • Planning permission for premises to be used as restaurant
  • Comply with the code of practise of environment health
  • Apply for Food shop license
  • Sign a tenancy Agreement
  • Meet the basic fire safety standards
  • Hire good staff
  • Import ingredients if necessary
  • Get other necessary certifications

Starting a business in Singapore is easy owing to the ease in operation and the flexibility in operations. The benefits of starting a business in Singapore are

  • Robust economy
  • Attractive tax system
  • Avoidance of double taxation
  • 100 percent Foreign ownership
  • Ease of incorporation and operation
  • Support for startups in the form of grants

This blog is mainly to discuss the different grants that are given by the Government to restaurants

There are 5 main grants given by the Government for Restaurants

Productivity Solutions Grant80 percent
Hawkers Productivity Grant80 percent
Enterprise Development Grant80 percent
Capability Development packsProvide SME with delivery platforms
Digital Resilience BonusUpto 10K

Eligibility Criteria for the Grants

For Productivity Solutions Grant

  • Be registered and operating in Singapore
  • Holds a minimum of 30% local share
  • Company annual sales turnover ≤ S$100 Million or ≤ 200 employees
  •  Purchased/ Leased technology solutions and equipment must be utilizing it Singapore

For      

To be eligible for HPG, hawkers must:

  • Be a registered stallholder and a valid hawker license issued by NEA/SFA
  • Possess a valid Tenancy Agreement with NEA with a remaining tendency of 1 year or more.
  • Comply with all regulations required from NEA

For Enterprise Development Grant

To qualify for the EDG, you need to:

  • Be a business entity registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project

For Capability Development packs

  • Must be registered and operating in Singapore
  • Sale of food must be consumed within premises
  • Holds a minimum of 30% local shares
  • Have the financial capabilities to see through the end of the project

For Digital Resilience Bonus

To be eligible for DRB, F&B businesses must fulfill both

(i) Paynow Corporate 

(ii) PEPPOL e-invoicing

How to apply for the Grants

There is a very self explanatory process for application of Grants. Grants are to be applied  in the Business portal using the Company Corpass/ singpass login Id and password.  Following the simple steps mentioned in the login the application needs to be submitted. The user can track the application. The IMDA or the Government authorities can raise queries which will be informed to be user via their registered email. Upon all the queries being answered the IMDA approves the Grant and sends the letter of approval over to the registered email address. The application process is explained below.

Eligibility Criteria for the Grants in Singapore

Conclusion

Though Restaurant Business is a highly competitive business, by directing your investments in the right channel you can gain back in the shortest time span in a place like Singapore.

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