Understand how this grant can help you in your company’s digital transformation strategy
If you are a business owner, it is vital to understand the importance of developing a business strategy, frameworks, policies and processes. A successful business needs to have a strong foundation in order to succeed.
A business strategy is the foundation for this success. It outlines what your organization will do, how it will do it and why it will do it. The framework is all about how your organization will be structured and how each department will work together as part of a cohesive unit. Policies describe how employees should behave while carrying out their tasks within the framework of the company structure. Processes are simply guidelines that employees can follow to ensure that they are doing their jobs correctly and efficiently.
These four things combined form an excellent foundation for any organization because they give direction, create accountability and provide consistency throughout all aspects of your business operations.
As an SME, you can use Enterprise Development Grant (EDG) for Business Strategy Development. You can get up to 70% subsidies from Enterprise Singapore, meaning you only pay just 30% for branding.
The EDG Grant covers:
- Diagnosis and gap analysis of your company
- Assessment of internal and external factors, such as strengths and weaknesses, and competition
- Primary or secondary research
- Recommendations and plans for implementation