Grant Overview
Understand how this grant can help you in your company’s digital transformation strategy
If you are a business owner, it is vital to understand the importance of developing a business strategy, frameworks, policies and processes. A successful business needs to have a strong foundation in order to succeed.
A business strategy is the foundation for this success. It outlines what your organization will do, how it will do it and why it will do it. The framework is all about how your organization will be structured and how each department will work together as part of a cohesive unit. Policies describe how employees should behave while carrying out their tasks within the framework of the company structure. Processes are simply guidelines that employees can follow to ensure that they are doing their jobs correctly and efficiently.
These four things combined form an excellent foundation for any organization because they give direction, create accountability and provide consistency throughout all aspects of your business operations.
Disclaimer:
For the Food Services and Retail sectors, the EDG support level will be at up to 80% from 1 April 2022 to 31 March 2023. From 1 April 2023, SMEs can receive up to 50% support for EDG (sustainability-related projects may be supported at up to 70% from 1 April 2023 to 31 March 2026).
The enhanced grant support levels were extended for a time-limited period given the exceptional disruptions brought about by the COVID-19 pandemic, to encourage the transformation of the economy and to help businesses emerge stronger from the pandemic.
The EDG Business Strategy Development Grant covers:
- Diagnosis and gap analysis of your company
- Assessment of internal and external factors, such as strengths and weaknesses, and competition
- Primary or secondary research
- Recommendations and plans for implementation
Outcomes and Impacts
- Formulation of growth strategies to capitalise on opportunities and transform businesses
- Development of intellectual property (IP) strategies and processes to protect, manage and commercialise intangible assets to increase business value and enhance competitive advantage
- Development of Sustainability Strategies* such as:
- Environmental, Social and Governance Reporting Framework Development
- Sustainability Risk Assessment
- Material Footprinting
- Sustainability Strategy Development
- Sustainability Value Creation
