Grants from Singapore?s Government to Help SME

It is a win-win solution for both employers and employees in Singapore where companies can improve the productivity and job satisfaction of the employees through various job re-design such as flexi-work and workplace policies. Employers can receive funding up to $ 500,000 (through various schemes from the Government to support and defray their project costs. In this article, I will mention two of the many schemes offered by Singapore’s Government, one is WoW! Fund and the other is iSPRINT Scheme.

One of the schemes is called WoW! Fund where a $ 20,000 work-life grant is introduced to encourage employers to adopt and set-up family friendly policies, benefits and flexi-work arrangements for the employees. Companies may want to look in HR SaaS software/provider, where they can streamline their HR processes to provide a flexi-work environment where administration goes paperless and highly accessible through web-based solution. With the introduction of the WoW! Fund, it will encourage more employers in Singapore to outsource their non-core businesses processes.

The other scheme is Isprint Scheme that addresses areas of infocomm adoption for the SMEs. This makes it easy and convenient for these enterprises to seek assistance to help them in projects that involve the use of infocomm technology to improve the company’s business operations, resulting in efficiency/productivity, increased revenue or value-add for the business. iSPRINT subsidies will cover up to 50% of qualifying cost for projects involving customized solutions, packaged solutions for business functions like finance/accounting, human resources, payroll and e-commerce, software-as-a-service type of packaged solutions with monthly subscription costs. Such a scheme will encourage employers to seek for SaaS software where they are able to use the grant for their project. There are many packaged solutions that are offered in the market. The most popular and highly used services are HR SaaS, where companies get to enjoy an integrated HR system on a monthly subscription. Such packages includes but not exhaustive, ePayroll, eLeave, ePayslips, eClaims and eTax where companies streamline their HR process to achieve higher efficiency and maximize the use of their resources, thus achieving higher workplace satisfaction.

SMEs in Singapore might want to start planning on how their companies can benefit from the use of innovative technological solutions that are available in the markets. It is important that companies look for reputable vendor/partner that will best fit into their organization to achieve work life integration. If you are interested in Payroll Outsourcing & HR SaaS, you may visit www.i-admin.com to find out more.