Business Improvement Fund (BIF) Singapore

What is the Business Improvement Fund (BIF) in Singapore?

In today’s increasingly competitive and fast-evolving tourism and hospitality landscape, businesses must constantly improve their operations, adopt new technologies, and enhance customer experiences to stay relevant. Recognising these needs, the Singapore Tourism Board (STB) introduced the Business Improvement Fund (BIF)—a grant scheme designed to encourage tourism-related enterprises to enhance productivity and competitiveness through technology adoption and innovation.

The BIF supports projects that lead to business transformation, capability development, and long-term sustainability. It is particularly targeted at companies within the tourism sector, including accommodation providers, travel agencies, attractions, MICE (Meetings, Incentives, Conferences, Exhibitions) organisers, and tour operators.

If your business serves the tourism ecosystem in any capacity, the BIF can be a strategic funding tool to drive innovation, improve operations, and deliver exceptional visitor experiences.

Objectives of the Business Improvement Fund (BIF)

The main goal of the BIF is to support tourism-related businesses in their transformation efforts through:

  1. Technology Innovation – Adoption of digital or smart technologies that automate processes, streamline operations, or improve customer experience.
  2. Process Redesign – Re-engineering of business processes to achieve greater efficiency and effectiveness.
  3. Service Excellence and Human Capital Development – Capability development projects that focus on improving service quality and staff competency.

Ultimately, the fund supports efforts that lead to sustainable productivity gains, enhanced customer experience, and stronger industry competitiveness.

Who Is Eligible for BIF?

The Business Improvement Fund is targeted at Singapore-registered tourism-related enterprises, such as:

  • Hotels and resorts
  • Travel agencies and tour operators
  • Tourist attractions and destinations
  • Cruise operators
  • MICE companies
  • Event and experience organisers
  • Lifestyle and retail businesses with a strong tourism focus
  • Restaurants and F&B outlets that cater significantly to tourists

To qualify for BIF funding, companies must:

  • Be registered and operating in Singapore
  • Have at least 30% local shareholding
  • Be financially viable to start and complete the project
  • Have a tourism-related scope or audience

STB will assess the tourism value proposition of each application. That means your business or project must directly contribute to enhancing Singapore’s tourism landscape or improving the visitor experience.

What Projects Does BIF Support?

The BIF supports two broad types of projects:

1. Technology Innovation Projects

These projects aim to encourage the use of technology to improve business productivity and customer experience. Examples include:

  • Adoption of contactless check-in systems for hotels
  • Implementation of AI-powered customer service chatbots
  • Smart queue management systems at attractions
  • Inventory and supply chain automation
  • Mobile app development to enhance guest experience

2. Process Redesign and Capability Development

These projects focus on improving business processes or service standards. Examples include:

  • Workflow reengineering for better operational efficiency
  • Design thinking workshops for experience redesign
  • Staff training and service culture transformation
  • HR systems upgrade for talent management
  • Sustainability planning and implementation

Some projects may also involve consultancy services, such as engaging experts to assess your current processes and propose strategic improvements.

Funding Support and Grant Amount

The BIF provides up to 70% funding support for qualifying costs. These include:

  • Third-party professional consultancy fees
  • Hardware and software solutions
  • Equipment costs
  • Internal manpower costs directly involved in the project
  • Training and development costs

The final amount awarded will depend on:

  • Project scope
  • Anticipated outcomes
  • Level of innovation and impact
  • Company’s financial health and readiness

For large-scale or high-impact projects, STB may consider higher funding support, subject to evaluation and justification.

Application Process for the BIF

Applying for the Business Improvement Fund requires careful planning, strong business justifications, and clearly defined deliverables. Here’s a step-by-step guide:

Step 1: Conceptualise the Project

Identify the problem areas in your business or customer journey. Consider what technologies, processes, or solutions could drive measurable improvement.

Step 2: Consult STB

Reach out to your assigned STB Industry Officer or email the Business Transformation team for initial feedback on your project idea. This helps ensure alignment with STB’s goals and tourism objectives.

Step 3: Engage a Vendor or Consultant

Work with a qualified vendor or consultant to scope the project. Ensure they provide a formal proposal, timeline, and detailed cost breakdown.

Step 4: Submit Application via the Business Grants Portal (BGP)

All BIF applications must be submitted through the Business Grants Portal (https://www.businessgrants.gov.sg) using your CorpPass. Include:

  • Detailed project proposal
  • Quotations from vendors/consultants
  • Company’s ACRA profile
  • Latest financial statements
  • Projected outcomes and performance indicators

Step 5: Evaluation and Approval

STB will review your application and may contact you for clarifications. The review process can take up to 6–8 weeks depending on project complexity.

Step 6: Project Implementation

Once approved, you may proceed with project execution. Keep documentation such as payment proofs, receipts, reports, and photographs for claims submission.

Step 7: Submit Claims

After project completion, submit your final report and claim package for reimbursement.

Real-Life Example: Hotel Enhancing Guest Experience

A mid-sized hotel in Singapore applied for the BIF to implement a digital concierge system and mobile room key access. The solution allowed guests to check-in via an app, access their room using their smartphone, and request housekeeping or room service without visiting the front desk.

With BIF covering 70% of the project costs, the hotel only paid for a fraction of the implementation cost. Within six months, they reported:

  • Faster guest check-in process
  • Higher customer satisfaction ratings
  • Reduction in front-desk manpower costs

The project directly improved operational efficiency and created a seamless guest experience—key outcomes aligned with BIF’s objectives.

Benefits of the BIF for Tourism Businesses

1. Encourages Innovation and Technology Adoption

BIF empowers businesses to move beyond traditional operations and embrace digital solutions that improve service delivery and competitiveness.

2. Enhances Visitor Experience

Whether it’s automating processes or introducing new customer touchpoints, BIF-funded projects lead to a better and more memorable tourist experience.

3. Improves Operational Efficiency

With automation, better workflows, and trained staff, companies can reduce costs, improve service speed, and maximise limited manpower.

4. Promotes Sustainable Growth

By supporting sustainable business practices and transformation, BIF helps companies build long-term resilience in a volatile industry.

5. Boosts Brand Differentiation

Businesses that innovate and offer unique experiences stand out in a crowded tourism market—an important factor for attracting global visitors.

Why Work with GrantConsultant.sg?

At GrantConsultant.sg, we specialise in helping tourism and hospitality businesses unlock the full potential of the Business Improvement Fund. Our end-to-end services include:

  • Assessing project eligibility and alignment with STB’s tourism goals
  • Scoping your transformation journey
  • Identifying and engaging qualified consultants and vendors
  • Preparing compelling grant applications
  • Supporting claims and post-implementation reporting

We’ve helped hotels, tour operators, and attractions implement meaningful change with BIF funding—and we can help you too.

Conclusion

The Business Improvement Fund (BIF) is a powerful enabler for tourism-related enterprises in Singapore. With generous support of up to 70% funding, the BIF lowers the cost of innovation and transformation, empowering businesses to adopt technology, redesign processes, and enhance visitor experiences.

If you’re in the tourism industry and want to future-proof your business, improve efficiency, and deliver exceptional customer experiences, the BIF is a grant you shouldn’t overlook.

Ready to improve and innovate? Contact GrantConsultant.sg today to explore how the BIF can fund your next transformation.

Scroll to Top