ISCA Support Fund for SMPs

To qualify for support under the ISCA Support Fund, the applicant company will need to meet the following criteria:

• The company must be a locally registered company and operating in Singapore.
• The company must have a minimum of 30% local shareholding.
• The company must have a Group Annual Sales Turnover of not more than S$100 million or Group Employment Size of not more than 200 workers.
• The company’s Singapore Standard Industrial Classification (SSIC) code must commence with “692”.
• At least one owner of the Company must have a valid ISCA membership at the time of the point of application and disbursement of fund.

The ISCA Support Fund for SMPs will support SMPs in the three pillars of business sustenance, business growth and capability upgrading.

(1) Business Sustenance

Working Capital Grant

With cashflow being a priority for businesses in the post-Covid-19 operating environment, the Support Fund will provide a working capital grant of $5,000 each for SMPs whose businesses are affected by the COVID-19 pandemic and are facing cashflow issues.

 (2) Business Growth

Tap New Opportunities

To support SMPs in diversifying their service offerings, ISCA has identified potential high-growth areas which SMPs can enter into, such as business compliance and advisory. To address the skills gap in the SMP sector, the Institute is working with trainers to curate relevant programmes and rolling out certification courses in these high-growth areas. SMPs can tap these new business opportunities and generate new revenue streams to ensure sustainability. Eligible SMPs can receive funding to upskill and reskill their staff in these high-growth areas.

 (3) Capability Upgrading

Accelerate Digital Transformation

Complementing existing government schemes to accelerate digitalisation, the ISCA Support Fund will support SMPs in building their digital capabilities by offsetting the cost of digital solutions specially curated for SMPs.

These solutions, such as the digital signing and telecommuting tools, will enable SMPs to grow their operations without increasing their office premises and corresponding rental costs, which form the bulk of the SMPs’ operating costs. They also enable SMPs to work remotely and boost productivity. In addition, tools such as digital analytics software enable SMPs to offer new value-add services in the form of data analysis and data-driven business recommendations.

Eligible SMPs can receive up to $10,000 each to fund their Business Growth and Capability Upgrading initiatives.

For advisory on digital tools and their implementation, SMPs can approach the online SMP Centre, run by ISCA to support SMPs’ growth and transformation.

Second Pillar - Business Growth
Tap New Opportunities

There are 4 curated CPD Programmes under the ISCA Support Fund.

1. ISCA Programmes:
   
   
   • Information System Risk Management
   • Financial Forensic Accounting Qualification
     

2. Tax Academy Singapore Programmes:

   • International Tax (Level I, Level II, Level III)
   • Goods and Services Tax ((Level I, Level II, Level III)

Programmes details can be found on the respective websites. 

Third Pillar - Capability Upgrading
Accelerate Digital Transformation

There are 13 curated digital solutions under the ISCA Support Fund.

Please click here to view the list of curated digital solutions.

Application Period has closed

Please click here to access the FAQs for the ISCA Support Fund.

ISCA will be hosting a virtual Tech Fair where we will invite vendors to showcase digital solutions eligible under this fund. Participants are able to interact with vendors to understand more of the curated digital solutions and how it can benefit your Company in the long run.

So, mark your calendars and register here.

For enquiries on the ISCA Support Fund for SMPs, please email supportfund@isca.org.sg