Singapore Budget 2019

Table of Contents

SUPPORT FOR BUSINESSES

Scale-up SG Programme

New programme to help high-growth local firms innovate, grow, and internationalise

Innovation Agents Programme

Pilot for enterprises to tap on experienced industry experts for advice on innovation and commercialisation opportunities

SME Co-investment Fund III

$100 million investment by Government to catalyse private sector funding in SMEs that are ready to scale up Open Innovation Platform

Enterprise Financing Scheme

  • Streamlining of existing financing schemes to better support SMEs to access bank financing
  • Enhanced support for companies incorporated for less than five years
  • Extension of enhanced support for working capital to support SMEs, until 31 March 2021

SMEs Go Digital Programme

Expansion of Industry Digital Plans to more sectors, and more choices of pre approved digital solutions

Digital Services Lab

Pilot programme to address digitalisation challenges in services sectors, through collaboration with industry and research partners

Automation Support Package

Two-year extension to support businesses in deploying impactful and large scale automation technologies (until 31 March 2021)

One-stop Portal for Firms to transact with Government

Launch of pilot portal for the food services sector, to streamline regulatory touch-points with government, from up to 14 to 1

New Professional Conversion Programmes

Support for mid-career professionals to enter new growth areas, e.g. blockchain, embedded software development, and prefabrication

Career Support Programme (Till 31 March 2021)

  • Two-year extension to provide wage support for companies that hire Singaporeans who are mature and retrenched, or in long-term unemployment (until 31 March 2021)
  • Ensuring that our firms and workers remain competitive and relevant
  • Expand scope to also support out-of-pocket cost for training, capped at $10,000

Enterprise Development Grant (EDG)

  • Include positive outcomes for workers, e.g. wage increases, for all EDG supported efforts starting from 1 April 2020
  • Three-year extension (until 31 March 2023) of enhanced support level of up to 70%, in view of foreign workforce policy changes

Productivity Solutions Grant

Three-year extension (until 31 March 2023) of enhanced support level of up to 70%, in view of foreign workforce policy changes

Share this post

Share on facebook
Share on google
Share on twitter
Share on linkedin
Share on pinterest
Share on email