If you are a local business in Singapore, your company may able to use the Local Enterprise Technical Assistance Scheme (LETAS) to help offset IT ecommerce consultancy and implementation costs by up to 50%. The Singapore government is actively helping local Small Medium Enterprises (SMEs) improve capability developments in order to meet a fast-changing and technologically savvy world.
Local Enterprise Technical Assistance Scheme (LETAS)
The LETAS grant is provided by Spring Singapore to help SMEs in Singapore to engage external consultant to implement IT systems or in quality management. Projects supported include implementations of online ecommerce systems, upgrading computer systems, and ISO certification.
A local SME may apply for the LETAS grant if it meets the following eligibility criteria:
- Company is incorporated or registered in Singapore, and with at least 30% local shareholding equity
- Company fixed assets are worth below $15 million at net book value
- Company does not employ more than 200 employees (for services sector)
The SME can only apply for one LETAS in each project area; which is one LETAS grant for IT systems, and one LETAS grant for Quality management systems. The SME may only apply for one LETAS grant in a year.
The funding support for IT projects does not cover hardware and software costs. Funding support for Quality Management system projects does not cover certification fees. As a general guideline, the financial statements for the previous 2 years of the SME are required for the LETAS application. As such, we require that:
- Company is active for at least the last 2 years
Please feel free to contact us for advice on how we can help implement a one-stop eBusiness solution that boost your company’s ecommerce presence, modernize business and operations, and increase sales while cutting costs through automation.
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