Business Improvement Fund

Who qualifies

• Must be registered in Singapore.
• Open to Singapore-registered businesses, particularly tourism businesses taking on core capability development initiatives and technology companies creating innovative products and services for tourism businesses.
• Hotels and hostels must possess a valid licence issued by the Hotels Licensing Board (HLB).
• Projects must not have commenced before application; commencement includes work, payment, or a signed supplier contract.
• Applicants may not apply for more than one grant to support the same project, and must declare any other grant, tax or financial incentive applied for or obtained.
• The grant applicant and the grantee must be the same entity.

What it funds

• Core capabilities — strategy, HR, finance, branding, processes
• Adopting digital tools, software, e-commerce, cybersecurity
• Automation, robotics, equipment upgrades for productivity
• R&D, product development, prototyping, IP
• Energy efficiency, decarbonisation, green certification, waste reduction

Costs covered: Third-party consultant or professional service fees; Hardware, machinery, IT equipment; Software licences and SaaS; Physical materials and consumables consumed by the funded project (e.g. construction materials, prototypes); Course fees and trainer costs; Overseas travel and logistics; Audit, testing, certification, standards fees.

Funding support differs for SMEs and non-SMEs; the page states no percentage. An SME has at least 30% local shareholding held directly or indirectly by Singaporeans and/or PRs, and either a group sales turnover of up to S$100 million or a maximum employment size of 200 employees (aligned to EnterpriseSG).

Payment: Paid after the company incurs the cost and files a claim.

How to apply

Use STB’s Chatbot to check eligibility, prepare the executive summary, submit it to STB, and then submit the formal application through the Business Grants Portal after an STB officer advises that the project may proceed.

1. Check eligibility using the Chatbot.
2. Prepare an executive summary covering project objectives, description, schedule, and costing.
3. Submit the executive summary and wait for an STB officer to advise on eligibility.
4. Submit the formal application form on the Business Grants Portal with supporting documents.

Before applying

• The project must not have commenced before application.

Documents

• Executive summary — Use the official BIF executive-summary template. Agency document ↗
• Project proposal template — Download and complete before applying on the Business Grants Portal; the vaulted text does not state a file format.
• Formal application form — Submit after STB advises the project may proceed.
• Supporting documents (if applicable) — If any, as stated on the scheme page.

Processing time: Up to 90 days upon receipt of the completed and signed application form and supporting documents, if any.

Claiming support

Submit an Agreed-Upon (AUP) Report by Practitioner and supporting documents to prove qualifying costs and agreed deliverables or milestones.

Contact: STB_Incentives@stb.gov.sg

Application window: No closing date stated on the scheme page.