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  • Go Global
Budget 2020
  • Budget 2020 Overview
  • Improve Business Capabilities and Leadership
  • Strengthen Business Ecosystem
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  • Go Global
  • Keep Growing

Go Global

GlobalConnect@SBF
  • The initiative will scale up Singapore Business Federation’s capabilities and resources in Singapore and overseas to facilitate market access for companies through market advisory and in-market business connections for Singapore companies.

Launching in April 2020. For more information, please contact GlobalConnect@SBF at globalconnect@sbf.org.sg or at +65 6701 1133

Grow Digital
  • Business can get a headstart in going global. Get support to leverage digital platforms and channels for access to a larger pool of consumers overseas, and to test new markets. Businesses will also receive training and support to enhance their e-commerce capabilities.

More details will be announced in Q2 2020.

Market Readiness Assistance (MRA) Grant
  • Companies can look forward to support for in-depth FTA consultancy and overseas business development. To support more local companies to go overseas, the grant will be enhanced:
    • Removal of the cap on two applications per company per year.
    • Grant cap will be increased from S$20,000 per year, to S$100,000 per new country over three years.
    • 70% support level will be extended by three years to 31 March 2023.
SUPPLEMENTARY BUDGET
  • Maximum support level will be raised from 70% to 80% from 1 November 2020 to 30 September 2021.
  • Programme will extend support to include businesses’ participation in virtual trade fairs.
Read more
Double Tax Deduction for Internationalisation (DTDi)
  • DTDi will be extended by five years to 31 December 2025. The scheme will be expanded to include:
    • Support for third party consultancy costs to identify suitable talent and build business networks.
    • Broadened scope of overseas business mission support.
Read more
Global Ready Talent Programme (GRT)
  • Additional funding will be allocated to support a greater number of overseas internship placements in ASEAN, China and India.
  • For overseas internships, the fixed monthly subsistence allowance will be increased from S$600 to S$800.
  • Additional funding support of up to S$800 will be provided to students on internships to cover pre-trip administrative travel expenses.

Effective from Q2 2020. For more information on the GRT, visit www.enterprisesg.gov.sg/GRT.

 

Learn more about the Singapore Budget 2020.
Overcoming challenges, emerging stronger - discover government initiatives and schemes that will help transform your business.

 

Supplementary Budget 2020
Learn about the additional measures introduced to help businesses cope with immediate COVID-19 challenges, and press on with enterprise and workforce transformation for long-term growth.
Read More

 

Useful Resources
  • Budget 2020 at a Glance
    Find out how new measures will help your business and team prepare for long-term growth and emerge stronger.

  • Supplementary Budget Summary
    Find out how the enhanced measures aim to save jobs and help enterprises overcome immediate challenges.

 

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(Last updated on 12 October 2020 13:21:08)