Are you a merchant association who wants to improve or upgrade your neighbourhood’s retail environment? Get a grant to fund your project.For who?
- Merchant Associations (MAs)
- Small and medium enterprises (SMEs) who are members of MAs. Your business qualifies as a SME if:
- 30% - 100% of shareholding is local
- your fixed assets are worth S$0 - S$15M*
- you have 0 - 200 employees (for non-manufacturing companies)*
*Computed on a group basis. Where 20% - 100% of your shares are owned by other companies, the total value of your fixed assets and employees is calculated three levels up. Where your company owns 51% - 100% of another company (subsidiary), your subsidiary’s fixed assets and employees will also be added to the computation.
For what?
- To subsidise the costs of projects led by MAs which improve or upgrade their neighbourhood’s retail environment.
- The project must lead to:
- 20% increase in retail traffic in 3 years
- 20% increase in sales revenue in 3 years
- MAs becoming self-sustaining in the long run
How much?
Merchant Associations
- MAs can get up to 70% of the qualifying costs for heartland retail projects.
- Qualifying costs includes:
- manpower costs (e.g. salary of project members)
- equipment and materials (e.g. software and machinery)
- professional fees (e.g. consultancy fees)
SME Members Of MAs
- SME members of MAs participating in the project can get up to 70% of qualifying costs, subject to a maximum of S$10,000.
- Qualifying costs include costs incurred to:
- re-layout the shop (space planning)
- buy shop equipment for the new layout (e.g. racks and shelves)
- buy inventory management systems
- buy point-of-sales (POS) systems
- improve visual merchandising
- renovate the shop
- train staff (e.g. visual merchandising skills)
Things to note
- Only MAs can apply. SME members of MAs who want to benefit from this grant should approach their MAs.
- MAs must garner 51% - 100% support from members for the project before applying for the grant.
- MAs also need to get the support of a Member of Parliament (MP) for their project.