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Partner Industry for Local Enterprises to Emerge Stronger from COVID-19



   2020 has been a challenging year for our SMEs and heartland enterprises, and the pressure persists for many of these businesses. Beyond the broad-based measures to help our SMEs to tide through these difficult times, we will also put in place targeted measures to help them to deepen capabilities while building capacity in order to help them emerge stronger from COVID-19.

Highlights:

Singapore will continue to support the growth of our local SMEs and heartland enterprises, which are important building blocks in our economic recovery via three strategies:

  • Embrace digitalisation by helping our local SMEs transform traditional business models to capture growth opportunities. We will continue to revitalise the heartlands and future-proof these businesses through an enterprise-centric approach via programmes such as the Heartlands Go Digital Programme.
  • Enable capability-building in SMEs through support schemes including the enhanced Productivity Solutions Grant. We are making Government assistance enterprise-centric. Efforts to do so include expanding the SME Centres, streamlining the Government assistance schemes available and simplifying the grants application and claims processes.
  • Co-create the future through empowering businesses and enhancing partnerships, such as by leveraging our trade associations and chambers to facilitate greater collaborations between enterprises and promote a pro-business environment. We have also made e-signatures a viable alternative for SMEs and will take steps to enable them to more easily compete for Government Procurement projects.
 
Find out more at www.enterprisesg.gov.sg and factsheets.
 
For more information on support measures for businesses, visit https://go.gov.sg/budget-2021-business-booklet.
 
Speech by Minister of State Low Yen Ling - Partner Industry for Local Enterprises to Emerge Stronger from COVID-19
 
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