Overview

The Business Improvement Fund (BIF) is a grant by the Singapore Tourism Board (STB) to help tourism-related businesses improve productivity, competitiveness, and innovation through capability development, technology adoption, process redesign, business model improvements, and sustainability initiatives. It is part of STB's Tourism Capability Development Scheme under its grants portfolio. The fund aims to accelerate growth in tourism businesses by enabling them to adopt new technologies, redesign operations, embed sustainability practices, and improve service/product offerings.

Support Details

Support Rate

Up to 70% of qualifying costs for SMEs, up to 50% for non-SMEs

Cap

No fixed monetary cap - final grant quantum depends on project scope, impact, and STB assessment

Eligibility Criteria

Must be a Singapore-registered business/company
Business should operate in the tourism sector or provide core support/tech solutions to tourism
For hotels/hostels: must hold valid license from Hotels Licensing Board (HLB) if applicable
SME definition: ≥30% local (Singapore/PR) shareholding and either group turnover ≤S$100 million or employment ≤200 employees
Project must not have commenced before application (no tenders called, payments made, or contracts signed)
Only qualifying costs incurred by grantee during qualifying period are eligible
Single grant application per project (no double-applying for overlapping grants)

Supported Categories

Core Capabilities Improvements: Strategic/business planning, capability building, business strategy development, adoption of internationally recognised sustainability certifications/standards, enhancement of core business capabilities (branding, marketing, operations, service quality)

Innovation, Productivity & Process Improvements: Adoption of hardware, software, technology solutions (automation, digital systems, analytics), process/workflow redesign, business model improvements, sustainability initiatives (resource efficiency, green practices), training and capability development if integral to project

Application Process

Preliminary project ideation and eligibility check - identify tourism-relevant project with productivity/tech/sustainability alignment

Use STB chat or grants eligibility tool or contact STB Incentives for initial project eligibility check

Prepare executive summary/project concept with objectives, description, schedule, costing, anticipated outcomes

Submit executive summary to [email protected] for preliminary feedback

Submit formal application via Business Grants Portal (BGP) using CorpPass once STB confirms eligibility

Include full proposal, vendor quotes, company info, financials in application

STB reviews proposal and assesses merits, may request clarifications

If approved, receive Letter of Offer (LOF) with conditions, qualifying period, deliverables

Proceed with project implementation per agreed plan

Submit claim packages after completion with supporting documents and AUP verification report

Processing Time

Up to 90 days from receipt of completed application form with supporting documents

Best Practices for a Successful Application

Align project to tourism value - must contribute to Singapore's tourism value (improving visitor experience, service standards, sustainable tourism)

Start with high-impact changes - projects with clear ROI, measurable productivity gains, cost savings, or revenue uplift

Don't commit ahead - avoid signing contracts, making payments, or starting work before receiving LOF

Itemize and document well - keep clear invoices, receipts, serial/model numbers, photos, progress logs

Engage specialist consultants familiar with government grants if project involves technical components

Be realistic in deliverables and timelines - overoptimistic claims may backfire

Secure vendor/quotations early for credible cost estimates during application

Stay responsive to STB queries during evaluation to avoid delays

Notify changes early - get prior written approval for vendor, timeline, or scope changes after approval

Prepare for audit/verification - AUP report and deliverable checks required for disbursement

Avoid double funding - do not duplicate same cost under another grant

Sample Use Cases & Scenarios

Hotel upgrading to mobile app for guest services (room controls, digital concierge) and backend automation of operations

Attraction installing IoT sensors to monitor visitor flows and optimize crowd management with staff dashboard tools

Tour operator redesigning business model, digitizing itinerary planning, CRM, and service personalization

Restaurant with heavy tourist traffic adopting sustainability practices (energy/waste optimization) and getting sustainability certification

Additional Information

Disbursement and Verification: Disbursement is reimbursement-based after project deliverables are met, costs verified, and supporting documents submitted. Grant offers typically require submission of an Agreed-Upon Procedures (AUP) Report by a practitioner to verify qualifying costs, unless otherwise stipulated. The qualifying period (period in which costs must be incurred/paid) typically begins from the Letter of Offer. Applicants can request extensions to the qualifying period on a case-by-case basis, subject to STB approval. Evaluation Criteria: When evaluating projects, BIF considers: • Growth in company value-added, revenue, net operating profit before tax • Incremental cost savings • Increased staff productivity (e.g. reduced man-hours) Important Reminders: • Projects that have commenced prior to STB's offer may not be eligible • Only qualifying costs incurred by the grantee during the qualifying period are eligible • STB may perform checks or audits to ensure deliverables are met • Any deviations or changes to project must be notified and approved before execution