Innovation & Capability Voucher (ICV)

The Innovation & Capability Voucher (ICV) replaces the old Innovation Voucher Scheme (IVS), which supported only technology innovation services. The $5,000 voucher now allows SMEs to pay for services in three more areas — Productivity, Human Resources and Financial Management. The aim is to encourage SMEs to start upgrading in these areas to enhance their capabilities.

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Capability Development Grant (CDG)

The Capability Development Grant (CDG) is a financial assistance programme that helps SMEs develop capabilities across 10 development areas, ranging from raising service standards, adopting technology to staff training and overseas expansion. The grant supports a wide-ranging capability upgrading initiatives, enabling SMEs to successfully compete and grow their businesses locally and globally.

The grant defrays up to 70 per cent* of qualifying project costs such as consultancy, training, certification and equipment costs. It assists SMEs to take on large scale upgrading projects in areas like increasing productivity, process improvement, product development and market access.

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Customer-Centric Initiative (CCI)

The Customer-Centric Initiative (CCI) aims to encourage companies to be committed to service excellence and to take the lead in raising service standards in their industry. Led by SPRING, the National Trades Union Congress, the Singapore Workforce Development Agency, the Singapore Tourism Board and the Institute of Service Excellence at SMU, the CCI offers an assistance package to assist Singapore-based companies in upgrading service standards.

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Customer Service Toolkit

The Customer Service Toolkit provides a simple and effective framework to develop service excellence in SMEs by identifying and addressing 5 key pillars of service excellence :

1. Leadership
2. The Team
3. Culture & Communication
4. Customer Relationships
5. Service Standards

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Financial Management Capability Programme (FMCP)

The Financial Management Capability Programme (FMCP) adopts a multi-pronged approach to assist the local SMEs to build up your financial management capabilities.

This include :

i.SME Financial Management Toolkit – A complimentary online self-help platform that provides diagnosis, tools and resources to address financial gaps and challenges

ii.Innovation and Capability Voucher (Financial Management) – A first step assistance to build up SMEs’ financial management capabilities

iii.Consultancy Programme – A programme to strengthen and enhance on SMEs’ financial resilience and management capabilities

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HR Capability Programme

HR Capability Toolkit has been developed to offer SMEs tools, templates and guidelines in 6 strategic areas – manpower planning, recruitment and selection, compensation and benefits, performance management, learning and development and career development.

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SME Management Action for Results (SMART) Initiative

The SME Management Action for Results (SMART) Initiative helps Singapore-based SMEs develop business management capabilities using the Business Excellence framework. Businesses have the option to perform a productivity diagnosis using the IMPACT Assessment Tool as well. Under SMART, a qualified consultant works with the SME to develop a roadmap to build its capabilities. The SME can then initiate projects to implement the roadmap

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