Branding is important to a company because it keeps the business and their products in the minds of consumers. Good branding can also help with sales, as customers will be reminded of your products through ads, websites, and other marketing materials.
Your company’s brand is its face when customers or potential customers are interacting with your business or products. It’s what people will notice prior to making a purchase and what they associate with your business after making a purchase.
As an SME, you can use Enterprise Development Grant (EDG) for Strategic Branding and Marketing Development. You can get up to 80% subsidies from Enterprise Singapore, subsiding consultancy and strategic advisory. The Objective of the Enterprise Development Grant (also known as EDG), is to help Singapore businesses grow and transform their overall processes.
For the Food Services and Retail sectors, the EDG support level will be at up to 80% from 1 April 2022 to 31 March 2023. From 1 April 2023, SMEs can receive up to 50% support for EDG (sustainability-related projects may be supported at up to 70% from 1 April 2023 to 31 March 2026).
The enhanced grant support levels were extended for a time-limited period given the exceptional disruptions brought about by the COVID-19 pandemic, to encourage the transformation of the economy and to help businesses emerge stronger from the pandemic.
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
Outcomes and Impacts
- Development of effective brand strategy that appeals to targeted consumers and offers differentiated proposition from the competition
- Assessment of a brand’s financial value and identification of brand levers
- Development of a strategic plan to optimise marketing resources and improve customer communications