A grant is defined as the type of award. It is commonly financial support given via an organization, or government authorities to an enterprise or a person to facilitate an aim or incentivize overall performance. The term edg grant singapore refers to the Enterprise Development Grant intended for the organizations situated in the city of Singapore. A grant is completely different from a loan. This is because a grant does not need to be paid back but a loan must be paid back in a specific period.
The Grants In the United States Of America
The grants provided in the United States of America usually come from a variety of government departments. A major portion of grants is also given by a wide variety of public and personal trusts and foundations. According to standard research in America, the trusts and foundations are presently more than 88,000. These trusts disperse an amount exceeding the sum of $40 billion each year.
Advantages Of Business Grants
Business grants provide a large number of benefits for the companies that receive the grant. There are many reasons why these grants are beneficial for any company. Some of these reasons are discussed in detail below:
- The first and foremost benefit of a grant is that they are basically free money. Grants need not be repaid, that’s what makes them so beneficial for enterprise endeavors. However, some grants also offer large amounts of cash. But these grants depend majorly on the applying companies’ business concept.
- Once a company receives a grant then they are much more likely to get hold of others. This is because once a company receives a grant, they are seen as a reliable candidate for other grants as well. This enhances their credibility in the eyes of the authorities who decide on the grant-winning company.
- Winning a grant prize increases the credibility of the company. Along with an increase in credibility, the visibility of the company also increases. This is because the company comes in the eyes of magazines and other promoting platforms. Through this, the company receives free promotions on every platform. They are seen as a viable option by people in the industry. This is the reason winning grants is so much beneficial for a company.
The EDG grant Singapore is one of the government-provided grants. This grant is a type of business grant intended for business organizations ranging from local to the international market.