Every year, the finance minister will lay out plans to help businesses during his budget speech. As Singapore moves out of the pandemic phase of dealing with Covid-19 to treating the virus as endemic, businesses should start to pick up. However, there will still be some segments of the economy that are still reeling from the pandemic and the government has catered for these segments in Budget 2022. Also, there will be some segments whereby growth is to be encouraged and these will also be reflected in Budget 2022. Here is a brief overview of the schemes that are available to businesses.
- [NEW] Food Services and Retail Business Revitalisation Package
- [ENHANCED] Our Heartlands 2025 Programme
- [NEW] Singapore Global Enterprise (SGE) Initiative
- [NEW] Trade 2030 Strategy
- [NEW] Trade Associations and Chambers (TACs) Partnerships
- [ENHANCED] Skills Future Enterprise Credit (SFEC)
- [ENHANCED] Innovation Centres in Polytechnics and ITEs
Loans and Financing:
- [ENHANCED] Enterprise Financing Scheme – Merger & Acquisitions (M&A)
- [ENHANCED] Enterprise Financing Scheme – Project Loan
- [ENHANCED] Enterprise Financing Scheme – Trade Loan
- [ENHANCED] Temporary Bridging Loan Programme
- Enterprise Sustainability Programme (ESP)
Support for Business Recovery:
- Small Business Recovery Grant
We will be going through some of these schemes in subsequent articles as well as on our YouTube channel.
If you would like to know more about the grants that can help your business, do contact us at [email protected].
When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.
The editorial team at Singapore Secretary Services
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