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

Improve Business Capabilities and Leadership

Startup SG Founder
  • Greater support for more Singaporeans to pursue entrepreneurship and build a strong pipeline of innovative startups.
SUPPLEMENTARY BUDGET
  • Introduction of 3-month Venture Building programmes to support aspiring entrepreneurs’ journey in building innovative startups. Call for applications will be launched by August 2020.
  • Grant quantum will be raised from $30,000 to $50,000.
  • Co-matching amount that the entrepreneur needs to inject into his/her startup will be lowered from 1:3 to 1:5.
  • Effective from September 2020.
Read more
Digital Resilience Bonus
  • Support for businesses to improve competitiveness and productivity through digitalisation, and adapt to safe management practices.
  • As a pilot, the Bonus will target businesses in F&B and Retail that are most affected by safe distancing requirements.
  • Eligible businesses will receive up to S$10,000 if they adopt baseline digital solutions such as PayNow Corporate and e-invoicing, as well as digitalise business processes, create online channels and implement data mining and analytic solutions.
Read more
Enterprise Leadership for Transformation (ELT)
  • One-year programme that supports business leaders of promising SMEs to acquire business growth and transformation capabilities through executive training, and to develop and implement a business growth plan.
  • Offers access to an alumni network for peer learning and collaboration. 
  • ELT will be delivered by a network of knowledge partners, financial institutions, and experienced industry partners.
Read more
SkillsFuture Enterprise Credit
  • A one-off S$10,000 credit will help eligible employers cover up to 90% of out-of-pocket expenses for eligible enterprise or workforce transformation schemes.
  • Employers who have contributed at least S$750 Skills Development Levy (SDL) in total in the preceding 12 months and have at least three Singapore Citizens or Permanent Residents (SC/PR) employed in each of the preceding 12 months will automatically qualify for the credit and be informed.
  • Valid from 1 April 2020 to 30 June 2023.
Read more
Productivity Solutions Grant (PSG)
  • Greater support for more sector-specific solutions and a wider range of pre-scoped solutions for businesses beyond IT solutions and equipment.
  • Expanded scope to include job redesign consultancy services.
SUPPLEMENTARY BUDGET
  • Maximum support level will be raised from 70% to 80% from 1 April 2020 to 30 September 2021.
  • Expanded scope of solutions to help enterprises implement COVID-19 business continuity measures. Valid till 31 December 2020.
    • Online collaboration tools
    • Virtual meeting and telephony tools
    • Queue management systems
    • Temperature screening solutions
Read more
Enterprise Development Grant (EDG)
SUPPLEMENTARY BUDGET
  • Maximum support level will be raised from 70% to 80% from 1 April 2020 to 30 September 2021.
  • Unionised enterprises and e2i partners under the Labour Movement are eligible to receive an additional 10% funding support, subject to NTUC e2i’s assessment.
Read more

 

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 12:58:29)