Kharece InfoTech Pte Ltd - A Singapore Business Information Technology Consulting Company

Do you know that if you are a local business and if you want to improve your business with the help of an external consultant to assist you in the implementation of quality management and IT systems , you can apply for the Local Enterprise Technical Assistance Scheme (LETAS)?

The Local Enterprise Technical Assistance Scheme (LETAS) is an assistance scheme for all local businesses that want to improve their business and helps by subsidising part of the cost of hiring a consultant to implement quality management and IT systems by up to 50%. Your business qualifies as long as: -

• your company is registered or incorporated in Singapore
• 30% - 100% of your shareholding is local
• your fixed assets at net book value are worth S$0 - S$15M*
• you have 0 - 200 employees* (for non-manufacturing companies)

*Computed on a group basis. Where 20% - 100% of your shares are owned by companies, the total value of your fixed assets and employees is calculated three levels up. Where your companies owns 51% - 100% of another company (subsidiary), your subsidiary's fixed assets and employees will also be added to the computation.



Here are some of the things that you need to take note of: -

• Hardware and software costs for IT projects are not supported.
• SPRING Singapore will take into account previous grants awarded to you under LETAS.
• You can only apply for LETAS once for each project area (i.e. one LETAS grant for IT systems, one LETAS grant for Quality management systems).
• You can apply for only one LETAS grant a year.
• It takes about 2 - 3 weeks for SPRING Singapore to reply to you regarding the status of your application.
• You must start on the project within 6 months when you receive a Letter of Offer from Spring Singapore.
• You must keep proper financial records. E.g. expenses, invoices, receipts relating to the project.
• You must keep proper project records. E.g. scope, timeline, deliverables, progress reports, project sign-offs, and evaluation reports.
• You must pay the consultant in full before submitting your claim.
• Claim must be received within 6 months from the scheduled completion date of the assignment. Otherwise, the offer of the grant shall automatically lapse.
• It takes about 3 - 4 weeks to receive the claimed funds by cheque.
• For more information regarding LETAS, you can go to the SPRING Singapore website.

Before you decide to apply for the Local Enterprise Technical Assistance Scheme (LETAS), you need to consider the system that you want to implement. The solution should assist you in increasing productivity, sales and helps to provide cost savings elements for your business.



Application for the Local Enterprise Technical Assistance Scheme (LETAS)

We are able to assist you in the application for the Local Enterprise Technical Assistance Scheme (LETAS) should you be interested. Let us assist you to get started on eBusiness solutions that will improve your business process and provide cost savings through the increase in business productivity. Our consultant will provide you with the details on the type of eBusiness solutions that you can implement in order to achieve the results you want for your business.

Please contact us to arrange for a discussion at a time that is convenient to you.