The importance of small and medium enterprises is vital in any market. Understanding this, the Singapore government introduced the CDG grant for SMEs in the country. After a few years of successful running, this scheme was cancelled, and a new project called the EDG or enterprise development grant was introduced. Both the schemes are developed with almost the same ideas in mind but still have some differences too.
Similarities
The main similarity between these grants is the reason why they were launched. Both these projects are meant to help SMEs in the local market. They also aim to help these in many aspects and improve them as a world-class brand.
The differences
The main difference in EDG is that it also encompasses the characteristics of another scheme other than CDG. The global company partnership grant was also cancelled and included within the EDG. This made the enterprise development grant much bigger in characteristics than the old CDG scheme. The addition of another grant also changes the critical business areas, the capability development grant used to concentrate on. The EDG has more crucial areas to handle, along with those, which were previously in the CDG scheme. Here a three-pillar idea is used with a lot of other aspects under each pillar of the EDG.
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