# Business Improvement Fund (BIF) > Business Improvement Fund (BIF) offers up to 70% for SMEs, 50% for non-SMEs for Singapore businesses, capped at project-based evaluation. Max Support Up to 70% for SMEs, 50% for non-SMEs Cap Project-based evaluation ### On This Page ## 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 1 Preliminary project ideation and eligibility check - identify tourism-relevant project with productivity/tech/sustainability alignment 2 Use STB chat or grants eligibility tool or contact STB Incentives for initial project eligibility check 3 Prepare executive summary/project concept with objectives, description, schedule, costing, anticipated outcomes 4 Submit executive summary to STB_Incentives@stb.gov.sg for preliminary feedback 5 Submit formal application via Business Grants Portal (BGP) using CorpPass once STB confirms eligibility 6 Include full proposal, vendor quotes, company info, financials in application 7 STB reviews proposal and assesses merits, may request clarifications 8 If approved, receive Letter of Offer (LOF) with conditions, qualifying period, deliverables 9 Proceed with project implementation per agreed plan 10 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 ## Contact Information Official Website Email: STB_Incentives@stb.gov.sg Phone: +65 6736 6622 ## Frequently Asked Questions 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. 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). The Business Improvement Fund (BIF) provides Up to 70% for SMEs, 50% for non-SMEs funding support, capped at Project-based evaluation. Up to 70% of qualifying costs for SMEs, up to 50% for non-SMEs 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 STB_Incentives@stb.gov.sg 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. Visit the official portal at https://www.stb.gov.sg/licensing-support/grants/business-improvement-fund/ The Business Improvement Fund (BIF) is administered by Singapore Tourism Board. You can contact them at STB_Incentives@stb.gov.sg or +65 6736 6622. Where Volty fits ## For businesses that answer customers on WhatsApp Volty is Voltade's WhatsApp AI agent builder. A business trains its own agent on its SOPs, products and brand voice, and the agent answers enquiries on the business's own WhatsApp number, then takes the booking, logs the order or updates the record in the tools the business already runs. Volty starts at S$199 a month on the Plus plan, with unlimited seats. Volty is sold under Voltade AI Solutions, a PSG Pre-Approved Solution, so eligible Singapore SMEs can receive up to 50% PSG support on it. Talk to Volty to start a 7-day trial: Volty interviews your team and drafts its own instructions, and you read them before anything is live. Talk to Volty ## Other Relevant Grants Explore additional funding opportunities that might complement this grant PSG – Job Redesign (PSG-JR) · Up to 50% support, S$30,000 per company · NTUC Company Training Committee (CTC) Grant · Up to 70% of qualifying costs support, No fixed dollar cap (assessed per project, typically project-based) · AI Trailblazers (IMDA + Google Cloud) · Free sandbox access + technical support support, Programme-based with successor AI CTO up to S$500,000 ## Links - [PSG – Job Redesign (PSG-JR)Up to 50% support, S$30,000 per company](https://voltade.com/sg/grants/psg-jr-grant) - [NTUC Company Training Committee (CTC) GrantUp to 70% of qualifying costs support, No fixed dollar cap (assessed per project, typically project-based)](https://voltade.com/sg/grants/ctc-grant) - [AI Trailblazers (IMDA + Google Cloud)Free sandbox access + technical support support, Programme-based with successor AI CTO up to S$500,000](https://voltade.com/sg/grants/ai-trailblazers)