Business Improvement Fund (BIF)
Max Support
70% SMEs, 50% non-SMEs
Cap
Project-based
Processing Time
2-4 weeks
Overview
The Business Improvement Fund (BIF) supports technology adoption and business operations redesign for tourism and hospitality firms.
Support Details
SMEs Support Rate
Up to 70%
Non-SMEs Support Rate
Up to 50%
Eligibility Criteria
- Tourism-related business in Singapore
- Technology adoption or operations redesign project
Application Process
1
Submit Proposal
Apply through STB with detailed project plan
2
Evaluation
STB assesses project viability and impact
Grant application approval: 2–4 weeks. Claim disbursement: 4–6 weeks after submission.
Common Reasons for Rejection
- Not tourism-related
- Insufficient project documentation
Best Practices
Focus on Technology Adoption
Demonstrate Business Impact
Quick Checklist
- Tourism business
- Technology project identified
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