Business Adaptation Grant

bill For companies impacted by tariffs to adapt business operations and strengthen supply chain resilience

About this programme

The Business Adaptation Grant (BizAdapt) helps enterprises adapt their business operations and strengthen supply chain resilience through advisory and reconfiguration support from pre-approved vendors, capped at S$100,000 per enterprise.

The grant supports:

Enterprises that export to and/or have operations in overseas markets, and are impacted by tariff measures, to engage in advisory for:
1. Free Trade Agreements and trade compliance,
2. Legal and contractual matters, and
3. Supply chain optimisation and market diversification.
Enterprises with manufacturing operations overseas or locally can also receive support for:
1. Reconfiguration costs, relating only to logistics and inventory holding costs (no pre-approved vendors required, companies may select a vendor of their choice).

Business Adaptation Grant- Activities in a glance

Note:

Retrospective applications (i.e., project has started, payment has been made, or a contract has been signed with the consultant/vendor prior to application submission) are not permitted.
Each project shall not exceed 24 months.
Group applications (two or more companies listed as applicants in one application form) are not allowed.
Applications should only be submitted 6 months or less prior to the project start date. This is to ensure that companies have greater certainty and clarity that the project will proceed as planned, and to keep changes to the project after submission to a minimum.

Eligibility

To be eligible for BizAdapt, the company must meet these criteria:

Business entity is registered and operating in Singapore
At least 30% local equity held directly or indirectly by Singaporean(s) and/or Singapore PR(s), determined by the ultimate individual ownership
For activities 1 to 3.
- Export to and/or have operations in overseas markets, and was impacted by tariffs
For activity 4*.
- Export to and/or have operations in overseas markets, and was impacted by tariffs; and
- Have local or overseas manufacturing operations requiring reconfiguration support

Additional requirements for Reconfiguration Support:

*Companies may apply directly on the Business Grants Portal (BGP) if they meet either scenario below. Companies that do not meet these criteria are strongly encouraged to engage the Centre for the Future of Trade and Investment at CFOTI@sbf.org.sg for clarifications before submitting their application.

(1) Company exports directly to the United States from Singapore or from company-owned manufacturing facilities overseas (at least 51% owned); OR

(2) Company exports to an intermediary in a market that is impacted by the tariffs, which then exports to the United States

Note:
Each application is limited to one activity. There are pre-approved vendors for activities 1, 2 and 3. Please refer to the list of BizAdapt pre-approved vendors.

For activity 4 (Reconfiguration), companies may select a vendor of your choice to implement the reconfiguration required.

How to apply

Step 1: Identify the activity you are applying for and select a suitable vendor

There are pre-approved vendors for activities 1 to 3. Please refer to the list of pre-approved vendors.

For activity 4 (Reconfiguration), companies may select a vendor of their choice to implement the reconfiguration required.

Step 2: Prepare your documents

Company’s Financial Statements (FS) for the past 3 years
Financial statements refer to audited statements or management accounts, including a profit and loss, and balance sheet statements, (both signed off by an authorised person with their name and designation clearly stated). Newly incorporated companies (less than 1 year) may submit alternative supporting documents such as current unaudited financial statements or management accounts endorsed by company’s shareholder or director.

If your company is part of a corporate group*, please also submit:
- Ultimate corporate group financial statements for the past 3 years
- ACRA bizfile of holding companies and/or subsidiaries
- Corporate group structure
- Complete SGX Shareholder report (if parent company is listed on the Singapore Exchange (SGX))
*A corporate group comprises the applicant company, holding companies with more than 50% ownership of the applicant, and subsidiaries in which the applicant owns more than 50%.

Supporting documents required:
- Business activities include exports to and/or operations in overseas markets. Examples of supporting documents include certificate of incorporation, proof of percentage shareholding of subsidiary, export license to the US or other markets that have been impacted by US tariffs, export declarations, and customs documents
- Business activities are impacted directly or indirectly by tariffs
- For reconfiguration projects:
  - Local or overseas manufacturing operations. Examples of supporting documents to demonstrate local or overseas manufacturing operations include factory certificate and production capacity documents,
  - Reconfiguration support is required.

Proposal and/or quotation from the pre-approved vendor or selected vendor for reconfiguration projects:
Information required includes, but is not limited to:
- Detailed scope of services
- Expected project deliverables
- Cost breakdown by scope of services
- Quotations addressed to the registered company name as per company’s ACRA Bizfile (short-forms or alternative names will not be accepted - e.g., if registered company is ABC Global Pte Ltd, ABC Global (without ‘Pte Ltd’) will not be accepted)
- Letter of Support from the chosen pre-approved vendor for activities 1, 2 and 3
Note: Where applicable, clarifications may be required on the choice of vendor and/or alternative quotation source.

Step 3: Apply on the Business Grants Portal (BGP)

Sign in to your Corppass account to transact on the BGP portal. Sign up if you do not have a Corppass account yet and refer to this guide for help. For the BGP application process, refer to this step-by-step guide.

Third party companies are not allowed to apply or manage the grant on behalf of applicant companies.

Note: Each complete application takes approximately 8-12 weeks to process. You can log in to BGP and view the status of your grant application under the “My Grants” section. We may contact you via the BGP for clarifications.

After you apply

Step 4: Receive your Letter of Offer

If your grant is awarded, your company will receive a Letter of Offer with the following details:

Conditions of support
Amount of grant awarded
Project qualifying period
Project deliverables

You will need to accept the Letter of Offer within the specified timeline.

Step 5: Complete your project

Please ensure that all deliverables are met as proof of project completion.

If there is a change in project after commencing, please submit a change request on BGP for evaluation. Failure to do so may cause delays during the claim process subsequently.

Change requests may be submitted for any of the following reasons:

Change to project start and end date (i.e., project qualifying period)
Change to claim due date
Change to project costs (including change in consultant/vendor)

The request will be subject to approval. You may refer to the step-by-step guide here.

Step 6: Complete the audit

All BizAdapt claims are subject to audit. Once you have completed your project and achieved your project deliverables, please engage an auditor under EnterpriseSG’s Pre-Qualified Panel.

The cost of audit starts from S$200 (dependent on audit scope), and are supported up to 50%, capped at S$500. Project and audit costs are subject to the same cap of S$100,000 per company.

Documents required for audit
For all activities:

Statement of Claim

Invoice(s)

Any of these:

Company’s bank/credit card statement

Payor’s bank/credit card statement (for payment(s) made on behalf of the company by its director/shareholder)

Bank’s advice slip (for payment(s) via bank draft, telegraphic transfer, etc.

Bank transactions proof reflecting both company’s and recipient’s account name and account number (for payment(s) via PayNow, GooglePay, etc.)

Other document(s) necessary as proof of payment e.g., photocopy of cheque, payment voucher

Additional documents for activities 1 to 3:

Supporting proof that company has incurred expenses based on the approved scope of work (e.g. invoices from pre-approved vendors)

Supporting proof that company has completed the project such as:

Activity 1: Assessment of company’s current situation and customised manual

Activity 2: Report detailing contract amendments and/or dispute resolution strategies, revised legal agreement

Activity 3: Impact analysis report, financial modelling spreadsheet, risk response plan

Additional documents for activity 4:

Supporting proof that company has incurred expenses based on approved scope for reconfiguration (e.g., invoices and receipts from new suppliers, warehousing invoices and receipts)

Step 7: Submit your claims

After the completion of audit, submit a claim on BGP with the following documents by the claim submission deadline specified in your Letter of Offer.

Audit report
Statement of Claim (endorsed by auditor)
Project deliverables as stated within LOF

You may refer to step-by-step guide here.

Achievement of project deliverables is assessed to determine if the project has been completed satisfactorily.

Step 8: Receive your disbursement

You will be notified via email when your claim has been approved. The approved claim amount will be disbursed via Corporate PayNow or GIRO to your designated bank account.

Note: Disbursement takes approximately 14 working days (via PayNow Corporate) following the approval of claims.

Business Adaptation Grant