It is a grant to assist businesses with starting up or expansion costs, where DARe will cover up to 70% of the costs, and businesses will have to co-match at least 30% or the rest of the costs.
To be eligible for the Scheme, businesses have to satisfy the following general eligibility criteria:
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Must be registered locally under ROCBN and based in Brunei Darussalam (100% locally owned businesses by Citizens or Permanent Residents)
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Product/services offered must be locally owned
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Must be able to match at least 30% of the eligible costs (according to the Scheme’s grant quantum), with applicants having prior investment be advantageous
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Eligible costs proposed under the Scheme shall not be incurred before the Grant award
There are 2 categories of Co-Matching Scheme:
1. Starting Up
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Applicable for new businesses registered or operated within (not more than) twelve (12) months
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Targeted to assist in the starting up of innovative businesses
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DARe will fund up to 70% of eligible costs with grant quantum of up to B$10,000
Criteria for Starting Up
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Must fall within definition of micro or small enterprises i.e., have fewer than 20 employees
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Must be currently participating or accomplished one of DARe’s Bootcamp Programmes (e.g., Accelerate Bootcamp Programme or Micro Bootcamp Programme)
2. Expansion
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Applicable for established businesses registered & operated for more than twelve (12) months as well as able to provide evidence that the business is generating significant revenue.
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Targeted at businesses looking to expand their businesses to the next level i.e., to increase productivity, expand range of products or services or looking into expanding internationally
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DARe will fund up to 70% of eligible costs with grant quantum of up to B$20,000
Criteria for Expansion
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Must fall within the definition of micro, small or medium enterprises i.e., have fewer than 100 employees
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Must be able to provide applicable financial records for at least 1 year and should practice proper book-keeping
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For Sole Proprietorship or Partnership, businesses are strongly encouraged to convert the status of their existing business into Sendirian Berhad (Sdn Bhd)
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Businesses may apply for the Co-Matching Scheme to help fund costs related to Starting Up or Expansion that promote business productivity and performance.
Eligible costs include:
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Costs of obtaining license and certification
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Consultancy services
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Machine and equipment
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Marketing expenses
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Adoption of technology
Costs not eligible under the Scheme include:
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Debts and liabilities
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Director’s fees and remuneration
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Manpower or personnel salary
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Service fee to individuals
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Renovation
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Rental
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Repair and maintenance costs
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Any business's normal operating costs
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How does it work?
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What is the Brunei Economic Development Board?The Brunei Economic Development Board (BEDB) envisions a resilient and diversified economy and is committed to catalysing sustainable growth by attracting and facilitating impactful investments that create jobs and generate opportunities for local enterprises. BEDB also provides effective support and resources to enterprises of all sizes to spur innovation and growth, and develops fit-for-purpose industrial infrastructure to enable enterprises to thrive in a conducive environment. Focused on three strategic thrusts—Enabling Private Sector Growth, Increasing Internationalisation, and Enhancing BEDB Capabilities—BEDB is dedicated to driving economic development and fostering a vibrant business ecosystem in Brunei.
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Why choose Brunei Darussalam?Brunei Darussalam is strategically located in the heart of Southeast Asia, along the East-West maritime trade route and within the ASEAN region, providing easy access to major cities like Singapore, Kuala Lumpur, and Jakarta within two to three hours by direct flight. This connectivity to the region's growing economies makes it an ideal location for export-oriented activities and for investors seeking a wider market base. Known for its political and economic stability, Brunei boasts a lush, green environment with 75% of its land area covered in pristine rainforest and 58% conserved under the “Heart of Borneo” initiative. The World Health Organization ranks Brunei among the top 10 countries with the safest and cleanest air, with over 70% of its area made up of verdant jungles and coastal mangroves. Brunei also has a young, highly educated, multilingual, and tech-savvy workforce, with the government ensuring its curriculum aligns with industry needs and providing grants for FDIs to train local employees. The favourable tax climate includes no personal income, sales, payroll, capital gains, and manufacturing tax, and companies with Pioneer Status are exempt from corporate income tax and import duties on raw materials and machinery. Credible co-investment partnerships are available with entities like the Ministry of Finance and Economy’s Strategic Development Capital Fund and various local equity funds. Furthermore, Brunei offers cost-competitive industrial parks with essential utilities for export-oriented FDI projects, permits 100% foreign ownership, and has a fast-track system for streamlined development approvals and operational requirements such as labor and customs. Brunei's reformed business environment ensures a simplified and conducive ecosystem for start-ups and investors, continually improving its Ease of Doing Business ranking.
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How do I start a business in Brunei Darussalam?businessBN is a whole-of-government service that aims to provide businesses with essential information on government services and reforms related to doing business in Brunei Darussalam. www.business.gov.bn is a single portal providing the Brunei business community easy access to information on a range of government procedures, legislation, guidelines and services related to doing business. Alternatively, entrepreneurs and business owners who prefer to speak directly with a customer service representative, may visit the Business Helpdesk in Anggerek Desa. Should you have any inquiries, email us at info@bedb.gov.bn
For general inquiries, please contact us via email at financing@bedb.gov.bn
What are the evaluation criteria?
There are certain criteria that your application will be evaluated on, these criteria are:
Starting Up Category
Commercial Merit
Business/Company should show potential for further development and commercialisation including a sound financial and marketing plan.
Team competency
Business/Company team members should have the necessary relevant knowledge, drive and expertise. Businesses are also encouraged to have a well-rounded team with marketing, promotion/operations and financial capability.
Innovation Merit
Business/Company should demonstrate innovation or improvement to existing product or service or technology for enhanced efficiency or productivity.
Expansion Category
Domestic Market Establishment
The business/Company should already be established locally and have potential for further development, growth and commercialisation including a sound financial and marketing plan.
Team Competency and Commitment
Must have an adequate and committed team. Must have knowledge of all aspects of product or service. The team must have a mix of both management and operational staff.
Export Potential
Business/Company must demonstrate expansion plans to international markets including plans of execution on the identified target markets.