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Business Improvement Fund (BIF)

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· Last verified 23 Oct 2026

Co-funds tourism businesses (and tech firms building solutions for tourism businesses) to adopt technology, redesign business models and processes, and take up sustainability initiatives.

Support: Different support levels for SMEs and non-SMEs; STB does not publish the percentages or caps on the BIF page (confirm with STB).
Maximum funding: No fixed cap published
How to apply: Executive summary by email to STB, then formal application (status via Business Grants Portal)
Apply before starting?: Yes, before any commitment or payment

Recent changes

STB page last updated 10 Jul 2026; FAQ revised 18 Apr 2025. No published change to funding levels found. STB's grants overview (updated 14 Jul 2026) groups BIF under the Tourism Capability Development Scheme.

Who is eligible

Registered and operating in Singapore
At least 30% local shareholding
Group annual turnover of S$100,000,000 or less (for SME support rates)
200 or fewer employees (for SME support rates)
Singapore-registered business
Tourism business, or technology company developing products for tourism businesses
Hotels and hostels must hold a valid Hotels Licensing Board licence
Project must not have started (no work, payment or signed contract) before application
SME thresholds apply only to the higher SME support tier; non-SMEs can apply at a lower tier

Quick eligibility check

1. Is your business registered in Singapore?
2. Is your business in the tourism industry, or are you building a product or service for tourism businesses?
3. If you run a hotel or hostel, do you hold a valid Hotels Licensing Board licence?
4. Have you NOT yet started the project, signed a contract or paid any supplier for it?
5. Will the project improve capabilities, productivity, innovation or sustainability (e.g. automation, new products, sustainability certification)?
6. Can you show measurable outcomes such as revenue growth, cost savings or higher staff productivity?

0 of 6 answered.

What it covers

Third-party consultancy (incl. sustainability certification)
Hardware, equipment and software
Materials and consumables
Training intrinsic to the project
Project-related travel

How to apply

Check eligibility with the STB grants chatbot
Prepare an executive summary (objectives, description, schedule, costing) using STB's template and email it to STB_Incentives@stb.gov.sg
An STB officer advises on eligibility
If eligible, submit the signed formal application form with supporting documents
Do not start the project, sign contracts or pay suppliers before applying

Processing time: Up to 90 days after complete signed application

Claims: Reimbursement after verification of qualifying costs and achievement of agreed deliverables and milestones; an Agreed-Upon Procedures (AUP) report by a practitioner is required unless otherwise stated.

Documents you need

Executive summary (STB template): objectives, description, schedule, costing
Signed formal application form
Vendor quotations / proposals for each cost item
ACRA business profile
Hotel/hostel licence (if applicable)
AUP report by practitioner at claim stage

Frequently asked questions

What is the Business Improvement Fund?

Co-funds tourism businesses (and tech firms building solutions for tourism businesses) to adopt technology, redesign business models and processes, and take up sustainability initiatives.

How much funding does BIF give?

Different support levels for SMEs and non-SMEs; STB does not publish the percentages or caps on the BIF page (confirm with STB).

Who is eligible for BIF?

Applicants must be registered and operating in Singapore, have at least 30% local shareholding, have group annual turnover of S$100,000,000 or less (for SME rates), have 200 or fewer employees (for SME rates). Singapore-registered business Tourism business, or technology company developing products for tourism businesses Hotels and hostels must hold a valid Hotels Licensing Board licence Project must not have started (no work, payment or signed contract) before application SME thresholds apply only to the higher SME support tier; non-SMEs can apply at a lower tier

How do I apply for BIF?

Apply through Executive summary by email to STB, then formal application (status via Business Grants Portal). You must apply before the project starts or any payment is made. Processing time: Up to 90 days after complete signed application.

What documents do I need for BIF?

Executive summary (STB template): objectives, description, schedule, costing; Signed formal application form; Vendor quotations / proposals for each cost item; ACRA business profile; Hotel/hostel licence (if applicable); AUP report by practitioner at claim stage.

Sources

Information last verified on 23 Oct 2026. Grant rules change often. Always confirm with Singapore Tourism Board before you apply.