📌 SME Grant Readiness Checklist (2025)
Is your business grant ready? Do a quick self-assessment below to find out if you met some of the basic criteria for the grant applications:
1. 📌 Business Eligibility & Registration
[ ] Registered with ACRA and operating in Singapore
[ ] At least 30% local shareholding
[ ] Annual revenue and employment size within SME thresholds
[ ] Not currently under financial distress or litigation
2. 🧠 Strategic Alignment
[ ] Clear business goals aligned with AI adoption, productivity, or workforce development
[ ] Identified areas for transformation (e.g., operations, customer engagement, talent strategy)
[ ] Leadership buy-in for innovation and change management
3. 📊 Financial Preparedness
[ ] Audited financial statements for past 2 years
[ ] Budget allocation for co-funding (most grants require partial SME contribution)
[ ] Cash flow projections to support grant implementation
4. 🧾 Documentation & Compliance
[ ] Updated business profile and corporate documents (BizFile, UEN, etc.)
[ ] HR records for SkillsFuture-related grants (employee details, CPF contributions)
[ ] Data protection and cybersecurity policies (especially for AI-related grants)
5. 🧑💻 Capability & Resource Planning
[ ] Internal champion or project lead assigned
[ ] Identified training providers or tech vendors (e.g., AI solution partners)
[ ] Staff availability for training or implementation phases
6. 📚 Grant-Specific Preparation
For SkillsFuture Enterprise Credit (SFEC)
[ ] Confirm eligibility via IRAS or EnterpriseSG portal
[ ] Select approved training programs or transformation initiatives
[ ] Prepare claim submission with receipts and course completion records
For AI Adoption Support
[ ] Conduct AI-readiness assessment (can be done via EnterpriseSG tools)
[ ] Define use case (e.g., predictive analytics, automation, customer insights)
[ ] Engage with IMDA or EnterpriseSG for pre-approved vendors
For SkillsFuture Level-Up Programme
[ ] Identify mid-career staff aged 40+
[ ] Shortlist eligible part-time or full-time courses
[ ] Prepare for monthly training allowance claims
7. 🗂️ Submission & Follow-Up
[ ] Create a grant calendar with deadlines and milestones
[ ] Assign responsibility for tracking progress and reporting
[ ] Maintain communication with grant officers or agency contacts