Supporting Our Businesses - Overcoming Challenges, Capturing Opportunities - MTI

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Supporting Our Businesses
Overcoming Challenges, Capturing Opportunities
Contents

02   Foreword

03   Additional Support

03     Credit

04     Cashflow

05     Costs

06   Deepening Capabilities to Capture
     Opportunities and Build Resilience

08     Business Development and Leadership

10     Internationalisation

12     Jobs and Skills

15     Innovation

18     Digitalisation

     Additional Resources

21     SME Centres

22     Centres of Innovation

                                             1
Foreword                                                     Additional Support                Credit
                                                                                                                                        Enterprise Financing Scheme – SME
                                                                                                      The Government has introduced
    The earlier version of this booklet provided an overview of the support measures announced                                          Working Capital Loan (EFS-WCL)
                                                                                                      additional measures to support     Enhanced
    in the Unity, Resilience and Solidarity Budgets. On 26 May 2020, Deputy Prime Minister and        businesses and to preserve jobs
    Minister for Finance Heng Swee Keat presented the Fortitude Budget in Parliament - the            and livelihoods.                  • The EFS-WCL has been further enhanced
    fourth Budget for this financial year.                                                                                                from 1 April 2020 to 31 March 2021.
                                                                                                                                        • The maximum loan quantum has been
                                                                                                                                          increased to $1 million, up from
    The pandemic has caused severe economic disruptions, and much uncertainty lies ahead.
                                                                                                                                          $600,000 previously.
    As we reopen our economy safely and progressively, businesses and workers must be                                                   • The Government’s risk share of loans
    prepared to transition to a new normal. Life will not return to what it was before COVID-19,                                          have been increased to 90% for loans
    but we will journey together. In total, the Government is dedicating close to $100 billion                                            initiated from 8 April 2020 till 31 March
    to support our people in this battle, amounting to about 20% of our GDP. This landmark                                                2021.
                                                                                                                                        • Businesses may request for deferment
    package is a necessary response to an unprecedented crisis.
                                                                                                                                          of principal repayment for one year,
                                                                                                                                          subject to assessment by Participating
    For businesses, immediate help is given on credit, cashflow and costs. This includes support                                          Financial Institutions (PFIs).
    for wage payments for your workers. As we tackle the immediate challenges, we must also
    build resilience in our economy and develop capabilities for when the eventual recovery                                             Enterprise Financing Scheme –
    comes. We will support businesses to use this downtime to digitalise, strengthen your                                               Trade Loan (EFS-TL) Enhanced
    workforce and transform for the long term. Businesses can find details of these support
    measures in this booklet as well.                                                                                                   • The EFS-TL (formerly known as Loan
                                                                                                                                          Insurance Scheme Plus) supports
                                                                                                                                          Singapore-based enterprises’ trade
    The battle against COVID-19 will be a long and uncertain one. It is a test of our unity, and we                                       financing needs.
    must face this battle with a spirit of resilience. The Government will continue to work closely                                     • The EFS-TL will be enhanced for one
    with our businesses, workers and industry partners to bolster our economic resilience and                                              year, from 1 April 2020 to 31 March 2021.
    seek new opportunities amid the adversity. As we move forward with fortitude, we will                                               • The maximum loan quantum will
                                                                                                                                          be increased to $10 million, up from $5
    overcome and emerge stronger together as Singapore United, Singapore Together.
                                                                                                                                          million previously.
                                                                                                                                        • The Government’s risk share of loans
                                                                                                                                          have been increased to 90% for loans
                                                                                                                                          initiated from 8 April 2020 till 31 March
                                                                                                                                          2021.

                                                                                                                                        Financing Support for Promising
                                                                                                                                        Startups New

                                                                                                                                        • To sustain startup innovation and
                                                                                                                                          entrepreneurship activities, $285 million
                                                                                                                                          will be set aside to catalyse and crowd
                                                                                                                                          in matching private investments.

2
                                                                                                                                                                                       3
Loan Insurance Scheme (LIS)                   Cashflow                                       Costs                                            Deferment of Higher CPF
     Enhanced                                                                                                                                     Contribution Rates New
                                                  Corporate Income Tax (CIT)                     Cash Grant for SME Tenants in
    • The Loan Insurance Scheme helps                                                                                                             • The planned increase in CPF
                                                  Rebate New                                     Private Non-Residential Properties
      SMEs secure short-term trade loans                                                          New                                               contribution rates for senior workers
      by having commercial insurers co-share      • A CIT Rebate of 25% of tax payable,                                                             will be deferred for one year, from 1
      loan default with PFIs.                       capped at $15,000 per company, will be                                                          January 2021 to 1 January 2022.
    • Subsidies for loan insurance premiums                                                      • The Government will provide a cash
                                                    granted for Year of Assessment 2020.           grant to offset the rental costs of
      have been increased from 50% to
      80%, for one year from 1 April 2020 to                                                       eligible SME tenants, of approximately         Ensure Pass-on of Property Tax
      31 March 2021.                              Deferment of Income Tax                          0.8 months of rent for qualifying              Rebate New
                                                  Payments New                                     commercial properties, and approximately
                                                                                                   0.64 months of rent for industrial/office      • Property owners are required to pass
    Temporary Bridging Loan                       • Automatic deferment of income tax              properties. The cash grant will be               on the full amount of property tax
    Programme (TBLP) New                            payments for companies and self-               disbursed through property owners.               rebate attributable to a rented property
                                                    employed persons.                            • Taken together with the Property Tax             to his tenant, in a timely manner, and
    • The TBLP, which was introduced              • For companies, income tax payments due         Rebate 2020 for non-residential properties,      without conditions.
      at Budget 2020 to provide additional          in April, May, and June 2020 will instead      the Government will provide approximately
      cash flow support for enterprises in          be payable in July, August, and September      2 months of rent for qualifying commercial     Property Tax Rebate for 2020          New
      the tourism sector, has been enhanced         2020 respectively.                             properties, and approximately 1 month of
      from 1 April 2020 to 31 March 2021.                                                          rent for industrial/office properties.         • 100% Property Tax Rebate for
    • The programme will be expanded to                                                          • To ensure that these measures benefit            qualifying commercial properties such
      eligible enterprises across all sectors     Enhanced Jobs Support Scheme                     the intended beneficiaries, eligible SME
                                                   Extended
                                                                                                                                                    as hotels, serviced apartments, tourist
      from 1 April 2020.                                                                           tenants in qualifying commercial                 attractions, shops and restaurants.
    • The maximum loan quantum has                                                                 properties will receive 2 months’ waiver of    • 30% Property Tax Rebate for other non-
      also been raised from $1 million to         The Government will provide support for          their base rental, and eligible SME tenants      residential properties such as offices
      $5 million.                                 the first $4,600 of monthly wages for every      in industrial/office properties will receive     and industrial properties.
    • The Government’s risk share of loans        local worker, for 10 months till end-2020.       1 month’s waiver of their base rental.
      have been increased to 90% for loans
      initiated from 8 April 2020 till 31 March   • Wage support levels will be differentiated                                                    Foreign Worker Levy        Extended
                                                    by sector. The list of sectors has been      Rental Waivers for Tenants in
      2021.
                                                    updated at the Fortitude Budget.             Government Properties New                        • For businesses that are unable to resume
                                                    Businesses can check their eligibility on                                                       operations yet, the Foreign Worker Levy
                                                    IRAS’ website.                               • Stallholders in hawker centres and               (FWL) waiver and rebate will be extended
                                                  • For firms that cannot resume operations        markets will get five months’ rental             for up to 2 months.
                                                    immediately after the circuit breaker, the     waiver in total.                               • For each work permit or S Pass holder:
                                                    Government will continue providing wage      • Qualifying commercial tenants will get           FWL rebate of $750 (April to June 2020)
                                                    support at 75% until August 2020 or when       four months’ rental waiver in total.             and $375 in July 2020; FWL waiver of 100%
                                                    allowed to reopen, whichever is earlier.     • Other tenants of non-residential                 (April to June 2020) and 50% in July 2020.
                                                  • Firms have received the first JSS payout       properties will get two months’ rental
                                                    in April and a special payout for May          waiver in total.
                                                                                                                                                  No Increase in Government Fees &
                                                    wages. Subsequent payouts will be in
                                                                                                                                                  Charges New
                                                    July and October 2020 (includes August
                                                    wages).
                                                                                                                                                  • There will be no increases in Government
                                                                                                                                                    Fees & Charges from 1 April 2020 to 31
                                                  Enhanced Wage Credit Scheme                                                                       March 2021.
                                                   Enhanced

                                                  • The Government will co-fund 20% and
                                                    15% of qualifying wage increases in 2019
                                                    and 2020 respectively for Singaporean
                                                    employees earning a gross monthly wage                         For more information, log on to:
                                                    of up to $5,000.                                               https://www.singaporebudget.gov.sg/budget_2020/fortitude-budget
4                                                 • Additional payout to be disbursed in June                                                                                                    5
                                                    2020.
Deepening Capabilities to Capture Opportunities and Build Resilience
      The Government is committed to supporting our businesses through the short-term                                The Government will continue to provide support for businesses to build capabilities at
      challenges while working with them to build up longer-term capabilities to be better                           every stage, for every size of company and every business goal. Businesses can do their
      prepared for the eventual recovery.                                                                            part by thinking through their business plans and goals.

                                                                                                             •   Capability Transfer Programme
                                                                                                             •   Digital Resilience Bonus
Support for businesses at
                                                                                                             •   Grow Digital
every stage, for every size                                   Revenue:                                 New   •   Hiring Incentive
                                           MNCs               >S$100mil
and for every business goal                                                                                  •   Part-Time Re-employment Grant
                                          and LLEs                                                           •   Global Ready Talent Programme (GRT)
                                                                                                             •   SGUnited Traineeships / Mid-Career Traineeships programme

                                                                                                                                    •   Digital Resilience Bonus
                                                                                                                                    •   Enterprise Leadership for Transformation (ELT)
                                          Medium                          Revenue:
                                                                                                                                    •   Executive-in-Residence
                                         Enterprises                      S$10mil - S$100mil                                        •   Grow Digital
                                                                                                                                    •   Market Readiness Assistance Schemes
                                                                                                                                    •   Global Ready Talent Programme (GRT)
                                                                                                                            New
                                                                                                                                    •   GoBusiness Licensing and e-adviser
                                                                                                                                    •   Hiring Incentive
                                                                                                                                    •   SkillsFuture Enterprise Credit
                                                                                    Revenue:                                        •   SME Centre Enhancement - Partners for Business Growth
                                     Small Enterprises                              S$1mil - S$10mil                                •   SMEs Go Digital
                                                                                                                                    •   SGUnited Traineeships / Mid-Career Traineeships programme

                                                                                                                                             •   Digital Resilience Bonus
                                                                                                                                             •   E-payment Adoption
                                                                                                                                             •   Enhanced Startup SG Equity
                                                                                               Revenue:                                      •   GoBusiness Licensing and e-Adviser
                                     Micro Enterprises
Business                                                    Enterprise Development Grant
                                                                (EDG) Enterprise Transform Package
                                                                                                                        • Offers access to an alumni network
                                                                                                                          for peer learning and collaboration.
                                                                                                                                                                    Heartland Enterprise Upgrading
                                                                                                                                                                    Programme (HEUP) New
    Development and                                             • Supports projects in three key categories
                                                                                                                        • The ELT will be delivered by a network
                                                                                                                          of partners including Institutes          An integrated support package for
    Leadership                                                    - core capabilities, innovation and
                                                                  productivity, and internationalisation.
                                                                                                                          of Higher Learning (IHLs), financial
                                                                                                                          institutions, and industry experts.
                                                                                                                                                                    selected Merchants’ Associations to
                                                                                                                                                                    implement holistic precinct rejuvenation
    Build and enhance management                                • From 1 April 2020 to 31 December                                                                  plans, through infrastructural
                                                                  2020, the support level will be raised                Executive-in-Residence                      improvements, place-making activities,
    and enterprise capabilities to                                                                                                                            New
                                                                  from up to 70% to up to 80%.                                                                      capability upgrading projects, and
    grow the business.                                          • In the same period, for enterprises that                                                          training for businesses and workers.
                                                                                                                        Support for trade associations
                                                                  are most severely impacted by                         and business chambers to engage
                                                                  COVID-19, the maximum support level                   experienced professionals with              SkillsFuture Enterprise Credit
                                                                  can be further raised to 90% on a case-               relevant expertise, and to match             New    Next Bound of SkillsFuture
                                                                  by-case basis.                                        them to businesses to assist in
                                                                • Unionised enterprises and                             transformation, capability building, and    Please refer to full description on pg 14.
                                                                  Employment and Employability                          internationalisation efforts.
                                                                  Institute (e2i) partners under the
                                                                  Labour Movement can qualify for                                                                   SkillsFuture Leadership
                                                                  an additional 10% funding, subject to                 GoBusiness e-Adviser for                    Development Initiative
                                                                  endorsement from e2i under NTUC.                      Government Assistance                       (SkillsFuture LDI)
                                                                • The maximum support under EDG is                       New    Enterprise Grow Package
                                                                  capped at 90%, excluding additional                                                               Businesses can leverage on SkillsFuture
                                                                  out-of-pocket support from the                        Businesses can get customised               LDI to develop and/or enhance their
                                                                  SkillsFuture Enterprise Credit.                       guidance on government assistance.          in-house leadership development
                                                                                                                        The e-adviser will recommend the most       programmes (for example overseas
                                                                                                                        relevant government assistance to           assignments and cross-functional
                                                                Enterprise Financing Scheme (EFS)                                                                   rotations) to expand their pipeline of
                                                                                                                        businesses via a guided set of questions
                                                                                                                        on business needs.                          Singaporean talent.
                                                                • Financing support to meet business
                                                                  needs at various stages of growth.
                                                                                                                        The e-adviser will be launched later in     SME Centre Enhancement -
                                                                • EFS covers six different areas –
                                                                                                                        2020.                                       Partners for Business Growth
                                                                  working capital, fixed assets, venture
                                                                  debt, trade, projects, and mergers &                                                               Enhanced   Enterprise Grow Package
                                                                  acquisitions.                                         GoBusiness Licensing
                                                                • Stronger support for young businesses.                 Enhanced   Enterprise Grow Package         • Pilot initiative for businesses that
                                                                                                                                                                      demonstrate ability to accelerate
                                                                For enhancements to the SME Working Capital                                                           growth and are keen to transform
                                                                Loan, please see pg 3.
                                                                                                                        Businesses can look forward to simpler,
                                                                                                                        faster and better processes when              their business in areas such as
                                                                                                                        transacting with the Government               digitalisation, talent development and
                                                                Enterprise Leadership for                               through the GoBusiness Licensing              internationalisation.
                                                                                                                                                                    • SME Centres will partner these
                                                                Transformation (ELT)                                    portal. The portal currently provides
                                                                                                                        new businesses in the food services           businesses to jointly develop
                                                                  New     Enterprise Transform Package
                                                                                                                        sector with a guided, streamlined             business plans and support
                                                                                                                        journey for licensing applications. The       implementation efforts.
                                                                • Supports business leaders of
                                                                  promising SMEs in achieving the next                  portal will be expanded later in 2020
                                                                  bound of growth, through structured                   to cover other key transactions by          Support for Job Redesign under
                                                                  modular training in business growth                   businesses with the Government.             Productivity Solutions Grant (PSG)
                                                                  capabilities and business coaching in                                                              Enhanced   Next Bound of SkillsFuture
                                                                  developing a business growth plan.
                                                                                                                                                                    Please refer to full description on pg 18.

      Legend          MNCs and LLEs               Small and Medium Enterprises                 Micro Enterprises
                                                                                                                                                                    PACT Programme
      *Key initiatives are designed to address businesses’ needs and businesses of any size can tap on any initiative
8                                                                                                                                                                                                                9
      where eligible.                                                                                                                                               Please refer to full description on pg 16.
Internationalisation                                        Double Tax Deduction for
                                                                 Internationalisation (DTDi)
                                                                                                                         GlobalConnect@SBF         New                    Market Readiness Assistance
                                                                                                                                                                          (MRA) Enhanced Enterprise Grow Package
                                                                   Enhanced
                                                                                                                         Provides market advisory services
     Venture overseas and seize                                                                                          and in-market business connections               Businesses can look forward to in-
     opportunities from regional and                             Businesses can apply for tax deductions                 to Singapore businesses looking to               depth FTA consultancy and support for
     global markets.                                             on eligible expenses incurred to support                expand or deepen their presence in key           overseas business development. To
                                                                 businesses’ overseas expansion                          Southeast Asian and emerging markets.            support more local businesses to go
                                                                 activities. The DTDi will be extended to                                                                 overseas, the grant will be enhanced:
                                                                 31 December 2025. Beginning 1 April
                                                                 2020, the scope of the scheme will also
                                                                                                                         Global Ready Talent Programme
                                                                                                                         (GRT) Enhanced                                   • Grant cap will be increased from
                                                                 be expanded to include:                                                                                    $20,000 per year to $100,000 per
                                                                                                                                                                            new market over three years.
                                                                 • Support for third-party consultancy                   Supports Singapore businesses to train
                                                                                                                                                                          • 70% support level will be extended by
                                                                   costs relating to new overseas                        and deepen in-market knowledge of
                                                                                                                                                                            three years to 31 March 2023.
                                                                   business development to identify                      their Singaporean employees, and
                                                                   suitable talent and build up business                 supports students of local IHLs to go on
                                                                   networks.                                             internships.                                     PACT Programme
                                                                 • New categories of fees incurred on
                                                                   overseas business missions.                           GRT Programme has been enhanced                  Please refer to full description on pg 16.
                                                                                                                         to encourage more students to go
                                                                                                                         abroad for overseas internships and
                                                                 Enterprise Development Grant                            attachments, deepening the talent pool
                                                                                                                                                                          SkillsFuture Enterprise Credit
                                                                 (EDG) Enterprise Transform Package                      for businesses.
                                                                                                                                                                           New    Next Bound of SkillsFuture

                                                                 Please refer to full description on pg 8.                                                                Please refer to full description on pg 14.
                                                                                                                         Grow Digital     New   Enterprise Grow Package
                               Growing Markets

                                                                 Enterprise Singapore Overseas                           Businesses can get a headstart in going
                                                                 Centres                                                 global. Get support to leverage digital
                                                                                                                         platforms and channels for access to
                                                                 Businesses can tap on the support                       a larger pool of consumers overseas,
                                                                 of Enterprise Singapore’s in-market                     and to test new markets. Businesses
                                                                 presence at over 35 international                       will also receive training and support to
                                                                 locations to generate new business                      enhance their e-commerce capabilities.
                                                                 leads, find business partners and
                                                                 acquire new technologies and
                                                                 capabilities.

                                                                 Global Innovation Alliance (GIA)
                                                                                  New
                                                                 Businesses can gain access to overseas
                                                                 partners for co-innovation and market
                                                                 expansion.

       Legend          MNCs and LLEs               Small and Medium Enterprises                 Micro Enterprises

       *Key initiatives are designed to address businesses’ needs and businesses of any size can tap on any initiative
10                                                                                                                                                                                                                     11
       where eligible.
Jobs and Skills                                             Capability Transfer Programme                           Enterprise Portal for Jobs & Skills                     P-Max

                                                                  Provides funding support for businesses                 Businesses can explore information and                  Helps SMEs to better recruit, manage
      Support workers in their skills                             to bring in foreign specialists to transfer             resources on relevant jobs and skills                   and retain newly-hired PMETs through
      training so that they remain                                new capabilities to local workers, or to                initiatives under SkillsFuture Singapore                funding support and workshops on
      relevant with the changing needs                            send local workers for training overseas                and Workforce Singapore via this one-                   progressive human resource practices.
                                                                  to acquire new capabilities.                            stop portal to support their training and
      of the industry.
                                                                                                                          human capital development needs.
                                                                                                                                                                                  Part-Time Re-employment Grant
                                                                  Career Support Programme                                                                                          New     Senior Worker Support Package
                                                                                                                          Hiring Incentive
                                                                  Salary support programme to encourage                    Enhanced     SkillsFuture Mid-Career Support Package   Support for businesses that voluntarily
The Fortitude Budget introduced an                                employers to hire Singaporean PMETs                     SGUnited Jobs and Skills Package                        commit to providing part time re-
SGUnited Jobs and Skills Package – a                              who are unemployed and actively                                                                                 employment to all eligible senior
$2b package to create close to 100,000                            looking for jobs for 6 months or more,                  Expanded support for employers                          workers who request for it.
opportunities in jobs, traineeships and                           or workers aged 40 and above who                        which hire local workers who have
                                                                  have been made redundant.                               completed eligible reskilling or training
skills training.                                                                                                                                                                  Professional Conversion
                                                                                                                          programmes*.
                                                                                                                                                                                  Programmes, Place-and-Train
                                                                  Career Trial                                                                                                    Programmes for Rank-and-
                                                                                                                          *Reskilling or training programmes eligible
                                                                  Allows employers to assess jobseekers’
                                                                                                                          for the hiring incentive are the PCPs, PnT              File Workers, Career Transition
                                                                                                                          programmes for rank-and-file workers, career
                                                                  job fit through a short-term trial before                                                                       Programmes by Continuing
                                                                                                                          transition programmes by CET centres, SGUnited
                                                                  offering employment.                                    Traineeships, SGUnited Mid-Career Traineeships          Education and Training (CET)
                                                                                                                          and SGUnited Skills.                                    Centres Enhanced
                                                                                                                                                                                   SkillsFuture Mid-Career Support Package
                                                                  Enhancements to Course Fee
                                                                  Subsidy and Absentee Payroll (AP)                       Lean Enterprise Development                              SGUnited Jobs and Skills Package

                                                                   SGUnited Jobs and Skills Package                       Scheme
                                                                                                                                                                                  Receive course fee funding and/or
                                                                  In Budget 2020, SkillsFuture Singapore                  Provides grants and transitional foreign                salary support for employers to hire and
                                                                  enhanced course fee subsidies and                       manpower support to businesses                          reskill local jobseekers.
                                                                  absentee payroll (AP) rates for employers               undertaking transformation projects to
                                                                  in sectors directly affected by the                     become more manpower-lean.                              Enhanced wage support levels for
                                                                  COVID-19 outbreak, when they sponsor                                                                            mature jobseekers at up to 90% under
                                                                  their workers for eligible courses.                                                                             Place-and-Train programmes.
                                                                                                                          National Centre of Excellence for
                                                                                                                          Workplace Learning (NACE)
                                                                  • From 1 April 2020, the enhanced course                                                                        Senior Worker Early Adopter
                                                                                                                           Enhanced     Next Bound of SkillsFuture
                                                                    fee subsidies and absentee payroll                                                                            Grant New Senior Worker Support Package
                                                                    rates has been extended to the Land
                                                                    Transport and Arts and Culture sectors.               Businesses can tap on this to build their
                                                                                                                                                                                  Supports businesses in raising their
                                                                  • From 1 May 2020, the enhanced                         in-house training system and workplace
                                                                                                                                                                                  company-level retirement and re-
                                                                    absentee payroll rates have been                      learning capabilities, as well as certify
                                                                                                                                                                                  employment age above the minimum
                                                                    further extended to cover all sectors.                workplace trainers using best-in-class
                                                                                                                                                                                  statutory requirements.
                                                                  • The duration of the enhanced training                 training practices through customised
                                                                    support is also extended, to cover                    solutions.
                                                                    eligible courses that start before 1                                                                          SGUnited Traineeships / Mid-
                                                                    January 2021.                                         Open Door Programme                                     Career Traineeships programme
                                                                                                                                                                                    New     SGUnited Jobs and Skills Package

                                                                                                                          Supports employers to hire and retain
                                                                                                                          persons with disabilities through job                   Supports businesses in raising their
                                                                                                                          redesign, training and placement services.              company-level retirement and re-
                                                                                                                                                                                  employment age above the minimum
        Legend          MNCs and LLEs               Small and Medium Enterprises                  Micro Enterprises                                                               statutory requirements.
        *Key initiatives are designed to address businesses’ needs and businesses of any size can tap on any initiative
 12                                                                                                                                                                                                                            13
        where eligible.
Skills Framework                            SkillsFuture Work-Study
                                                 Programmes
                                                                                              Innovation                                                  A*STAR Collaborative Commerce
                                                                                                                                                          Marketplace (ACCM)
     Businesses can use the Skills Framework      Enhanced     Next Bound of SkillsFuture
     to design their human resource strategy                                                  Create new products and services                            An online platform that enables
     and talent development plans. Each          Businesses can groom and hire fresh          or enhance work processes                                   businesses to network, form
     framework provides key information on       talent through Work-Study Programmes         through technology and                                      relationships, and foster collaborations
     the sector, career pathways, job roles,                                                                                                              among local companies and large
                                                 from the Certificate to Post-Graduate        collaboration.
     existing and emerging skills required,      levels. Businesses will jointly design and                                                               multinational companies.
     and suggested training programmes.          deliver with Institutes of Higher Learning
                                                 (IHLs) and appointed private providers.
                                                                                                                                                          Centres of Innovation (COIs)
     SkillsFuture Enterprise Credit
      New   Next Bound of SkillsFuture
                                                 Support for Job Redesign under                                                                           Support businesses in the development
                                                 Productivity Solutions Grant (PSG)                                                                       and testing of new technology
     Additional support for employers                                                                                                                     products, through provision of facilities,
                                                  Enhanced     Next Bound of SkillsFuture
     investing in workforce and enterprise                                                                                                                consultancy, training, and technical
     transformation.                                                                                                                                      services in specific sectors.
                                                 Please refer to full description on pg 18.
     Up to $10,000 credit per firm to cover
     up to 90% out-of-pocket expenses                                                                                                                     Digital Services Lab
                                                 TechSkills Accelerator (TeSA)
     for workforce and/or enterprise             SGUnited Jobs and Skills Package
     transformation.                                                                                                                                      Businesses partner with IMDA, tech
                                                                                                                                                          providers and research institutions to
                                                 Supports both current information                                                                        co-develop digital solutions to address
     SkillsFuture JumpStart! Workshop            and communications technology (ICT)                                                                      sector-wide challenges.
                                                 professionals and non-ICT professionals
     Businesses can learn about the              to upgrade and acquire new skills and
     available jobs and skills resources and     domain knowledge that are in demand,                                                                     Enterprise Development Grant
     grants through this specially curated       and to stay competitive and meet the                                                                     (EDG) Enterprise Transform Package
     workshop.                                   challenges of a fast-moving digital
                                                 landscape.                                                                                               Please refer to full description on pg 8.
     SkillsFuture Series                         TeSA’s Company-Led Training Programme
                                                 has been enhanced to provide more support                                                                Headstart Programme
     Businesses can use these short, industry-
                                                 for businesses looking to hire and train
     relevant programmes to train employees                                                                                                               Improves SMEs’ access to intellectual
                                                 mature PMETs aged 40 and above.
     in emerging and priority areas, namely                                                                                                               property (IP) by providing royalty-
     data analytics, finance, tech-enabled                                                                                                                free and exclusive licences for up to
     services, digital media, cybersecurity,                                                                                                              36 months, for IP co-developed with
     entrepreneurship, advanced                                                                                                                           A*STAR.
     manufacturing and urban solutions.

                                                                                                Legend          MNCs and LLEs               Small and Medium Enterprises                 Micro Enterprises

                                                                                                *Key initiatives are designed to address businesses’ needs and businesses of any size can tap on any initiative
14                                                                                                                                                                                                                15
                                                                                                where eligible.
Innovation Advisors Programme                                Intellectual Property                                   Startup SG                                  Tech Access
                                                                  Intermediary (IPI)
     Businesses can be guided by innovation                                                                               Access a wide range of support for          Businesses can access a comprehensive
     mentors who will advise them in the                          Online marketplace and consultancy                      startups and entrepreneurs, including:      suite of A*STAR’s advanced
     development of innovation strategies,                        for businesses to connect with                                                                      manufacturing equipment and biotech/
     new products and solutions to address                        providers of suitable technology IP for                 Startup SG Founder                          biomedical scientific services, under the
     market needs, and connect businesses                         business needs.                                         Provides mentorship and startup capital     guidance of technical experts.
     to technology and business partners.                                                                                 grant to first-time entrepreneurs with
                                                                                                                          innovative business ideas.
     *Formerly known as Innovation Agents Programme               Open Innovation Platform (OIP)                                                                      Technology for Enterprise
                                                                                                                          Startup SG Tech                             Capability Upgrading (T-Up)
                                                                  Businesses can get matched to                           Provides funding for startups to carry      Programme
     Intellectual Property (IP)                                   problem-owners or solution providers                    out Proof-of-Concept and Proof-of-
     Schemes                                                      to collaborate and address business                     Value trials for innovative technologies.   Businesses can get access to talent
                                                                  needs through digital solutions.                                                                    from A*STAR’s Research Institutes and
     Businesses can access subsidised                                                                                     Startup SG Equity Enhanced                  build in-house R&D capabilities.
     programmes including IP audit, IP                                                                                    To catalyse private sector investments
     strategy advisory, IP analytics and                          Operation and Technology
                                                                                                                          into local-based deep-tech startups with
     business/ legal clinics to accelerate                        Roadmap (OTR)                                           strong IP and global potential.
     translation of technologies, brands and
     IP to the market.                                            Development of technology roadmaps                      Startup SG Infrastructure
                                                                  to map out priorities that are aligned                  Provides physical spaces (e.g. LaunchPad
                                                                  to businesses’ strategies and                           @one-north) for startups to grow,
                                                                  developmental plans. Consortium OTR                     experiment and flourish.
                                                                  (COTR) is also available to cater to the
                                                                  needs of a group of companies.                          Startup SG Talent
                                                                                                                          Supports startups’ talent needs.
                                                                  PACT Programme

                                                                  Collaborate with other businesses to
                                                                  build capabilities, innovate and pursue
                                                                  new business opportunities in local and
                                                                  overseas markets. Funds up to 70% of
                                                                  qualifying activities.

                                                                  Singapore Institute of Food and
                                                                  Biotechnology Innovation (SIFBI)

                                                                  The new institute will strengthen
                                                                  Singapore’s R&D capabilities and
                                                                  support our food and biotechnology
                                                                  innovation ecosystem.
                                                                  The institute will officially open in April 2020.

        Legend          MNCs and LLEs               Small and Medium Enterprises                 Micro Enterprises

        *Key initiatives are designed to address businesses’ needs and businesses of any size can tap on any initiative
16                                                                                                                                                                                                                17
        where eligible.
Digitalisation                                              Automation Support Package
                                                                 (ASP)
                                                                                                                         Digital Resilience Bonus          New
                                                                                                                                                                         As part of the call for businesses to “Stay
                                                                                                                         The Digital Resilience Bonus provides           Healthy, Go Digital”, IMDA has curated a
     Build stronger digital capabilities                         Until 31 March 2021, businesses can tap                 additional support to enterprises seeking       set of resources for businesses to Go Digital
     to seize growth opportunities in                            on grant, tax and loan support to defray                to uplift their digital capabilities to adapt   so that business can continue despite
     the digital economy.                                        the cost of deployment of large-scale                   to safe management practices while              challenges brought about by COVID-19.
                                                                 automation solutions.                                   deepening transformation.

                                                                                                                         • A payout of up to $5,000 will be
                                                                 E-invoicing Registration Grant                            given to help F&B and retail enterprises
                                                                   New                                                     digitalise with PayNow Corporate and
                                                                                                                           e-invoicing, as well as business process
                                                                 • Businesses registered on the                            or e-commerce solutions.
                                                                   nationwide e-invoicing network on or                  • Enterprises that adopt advanced digital
                                                                   before 31 December 2020 will receive                    solutions will receive an additional
                                                                   a one-time grant of $200. Businesses                    $5,000.
                                                                   can register through more than 50 Peppol-
                                                                   ready accounting and ERP solutions.
                                                                 • Businesses incorporated on or before                  Productivity Solutions Grant
                                                                   25 March 2020 and registered on the                   (PSG) Enhanced Enterprise Grow Package
                                                                   network on or before 31 December 2020
                                                                   will automatically receive their grant via            From 1 April 2020 to 31 December 2020,
                                                                   PayNow Corporate. There is no need to                 the maximum support level will be raised
                                                                   apply for the grant.                                  from 70% to 80%.

                                                                                                                         From 1 April 2020 to 31 December
                                                                 E-payment Adoption                 New
                                                                                                                         2020, the scope of pre-approved digital
                                                                                                                         solutions under PSG will be expanded
                                                                 • To encourage adoption of e-payments                   to help SMEs implement safe distancing
                                                                   by F&B stallholders in hawker centres,                and business continuity measures.
                                                                   coffees shops and industrial canteens                 These include tools for online workplace
                                                                   to adopt e-payment solution, a bonus                  collaboration, virtual meetings, queue
                                                                   of $300 will be given per month, over a               management and temperature
                                                                   period of five months.                                screening.

                                                                                                                         Businesses can also access a wider range
                                                                                                                         of pre-scoped solutions, including IT
                                                                                                                         solutions and equipment, as well as
                                                                                                                         consultancy services. Within consultancy,
                                                                                                                         job redesign will be supported for a
                                                                                                                         start. Businesses will be able to achieve
                                                                                                                         productivity gains, and offer more enriching
                                                                                                                         jobs with better wages for workers.

                                                                                                                         SkillsFuture for Digital Workplace

                                                                                                                         Helps businesses build digital confidence
                                                                                                                         in staff and equip them with the basic
                                                                                                                         digital skills required for the workplace
                                                                                                                         over a two-day course.

       Legend          MNCs and LLEs               Small and Medium Enterprises                 Micro Enterprises

       *Key initiatives are designed to address businesses’ needs and businesses of any size can tap on any initiative
18                                                                                                                                                                                                                19
       where eligible.
SMEs Go Digital Programme                                    SMEs Go Digital expands to more
                                                                  sectors Enterprise Grow Package                         SME Centres
     Businesses can tap on support available                      Businesses can use Industry Digital
     under SMEs Go Digital, a whole-of-                           Plans (IDPs) as a step-by-step guide                    Businesses that wish to enhance their capabilities or embark on transformation
     government programme that helps                              on sector-specific digital solutions to                 plans may approach the SME Centres below for assistance.
     businesses develop digital capabilities.                     adopt at each stage of business growth.
                                                                  IDPs for more sectors are progressively
     Advanced Digital Solutions New                               being developed.                                        SME Centre@SCCCI                         SME Centre@NorthEast
     Businesses can access up to 80%                                                                                      Trade Association Hub                    Our Tampines Hub
     funding support to adopt advanced                            Businesses can adopt a wide range of                    9, Jurong Town Hall Road                 51 Tampines Ave 4
     digital solutions from 1 May 2020 to 31                                                                              #03-18, Singapore 609431                 #04-31, Singapore 529684
                                                                  pre-approved SME-friendly generic or                    Tel: +65 6337 8381                       Tel: +65 6513 0388
     December 2020. These solutions will                          sector-specific digital solutions, which                Email: enquiry@smecentre-sccci.sg        Fax: +65 6513 0399
     help businesses deepen their digital                         include AI, cybersecurity and cloud                                                              Email: enquiries@smecentre-asme.sg
     capabilities to strengthen business                          solutions, with funding support from                    SME Centre@SMCCI
     continuity measures and build resilience.                    the Productivity Solutions Grant (PSG).                 15, Jalan Pinang                         SME Centre@NorthWest
                                                                                                                          Singapore 199147                         Woodlands Civic Centre
     Start Digital     Enterprise Grow Package
                                                                  Grow Digital        New
                                                                                                                          Tel: +65 6293 3822                       900, South Woodlands Drive
                                                                                                                          Fax: +65 6293 3905                       #06-01, Singapore 730900
     Businesses can take up a Start Digital                       Businesses can get a headstart in going                 Email: gadvisory@smecentre-smcci.sg      Tel: +65 6826 3020
     Pack that provides simple Accounting,                        global. Get support to leverage digital                                                          Fax: +65 6826 3021
     HR Management System & Payroll,                              platforms and channels for access to                    SME Centre@SICCI                         Email: northwest@smecentre-smf.sg
     Digital Marketing, Digital Transactions                      a larger pool of consumers overseas,                    SICCI Building
     and Cybersecurity solutions. Businesses                                                                              31, Stanley Street                       SME Centre@SouthEast
                                                                  and to test new markets. Businesses                     Singapore 068740                         1, Engku Aman Turn
     can get a waiver of six months                               will also receive training and support to               Tel: +65 6508 0147                       #03-02, Wisma Geylang Serai
     subscription fee for any two solutions                       enhance their e-commerce capabilities.                  Fax: +65 6223 1707                       Singapore 408528
     with a minimum 18-months contract                                                                                    Email: sme@smecentre-sicci.sg            Tel: +65 6513 0388
     agreement.                                                                                                                                                    Fax: +65 6513 0399
                                                                                                                          SME Centre@ASME                          Email: enquiries@smecentre-asme.sg
                                                                                                                          167, Jalan Bukit Merah
                                                                                                                          #03-13, Tower 4, Singapore 150167        SME Centre@SouthWest
                                                                                                                          Tel: +65 6513 0388                       The JTC Summit
                                                                                                                          Fax: +65 6513 0399                       8, Jurong Town Hall Road
                                                                                                                          Email: enquiries@smecentre-asme.sg       #26-06, Singapore 609434
                                                                                                                                                                   Tel: +65 6316 1616
                                                                                                                          SME Centre@SMF                           Fax: +65 6316 7250
                                                                                                                          SMF House                                Email: southwest@smecentre-smf.sg
                                                                                                                          2985, Jalan Bukit Merah
                                                                                                                          Singapore 159457
                                                                                                                          Tel: +65 6826 3020
                                                                                                                          Fax: +65 6826 3021
                                                                                                                          Email: query@smecentre-smf.sg

                                                                                                                          SME Centre@Central
                                                                                                                          HDB Hub BizThree
                                                                                                                          490, Lorong 6 Toa Payoh
                                                                                                                          #07-11, Singapore 310490
                                                                                                                          Tel: +65 6715 7580
                                                                                                                          Email: central@smecentre-sccci.sg

                                                                                                                          SME Centre@Little India
                                                                                                                          Little India Arcade
                                                                                                                          48 Serangoon Road
                                                                                                                          #01-22, Singapore 217959
                                                                                                                          Tel: +65 6508 0149
                                                                                                                          Email: littleindia@smecentre-sicci.sg
        Legend          MNCs and LLEs               Small and Medium Enterprises                 Micro Enterprises

        *Key initiatives are designed to address businesses’ needs and businesses of any size can tap on any initiative
20                                                                                                                                                                                                         21
        where eligible.
Centres of Innovation                                                                                Notes
     Centres of Innovation (COIs) were set up in Institutes of Higher Learning (IHLs)
     and public research institutes (RIs) to enhance SMEs’ technology innovation.
     They provide facilities, consultancy, training, and technical services for SMEs to
     develop and test technology projects in specific sectors.

     Aquaculture Innovation Centre                     Food Innovation Resource Centre
     Temasek Polytechnic                               Singapore Polytechnic
     Dr Lee Chee Wee                                   Mr Zen Tan
     Tel: +65 6780 6400                                Tel: +65 6870 4619
     Email: leecw@tp.edu.sg                            Email: zen_tan@sp.edu.sg

     Dr Diana Chan Pek Sian                            Marine and Offshore Technology Centre of
     Tel: +65 6780 5383                                Innovation
     Email: peksian@tp.edu.sg                          Ngee Ann Polytechnic
                                                       Mr Ang Yee Kiang
     Ms Susila Krishnasamy                             Tel: +65 6460 8594
     Tel: +65 6780 4002                                Email: angyeekiang@np.edu.sg
     Email: krishnas@tp.edu.sg
                                                       Materials Centre of Innovation
     Centre of Innovation for Complementary            Institute of Materials Research and Engineering,
     Health Products                                   A*STAR
     Temasek Polytechnic                               Dr Leong Yew Wei
     Mr Martin Cai                                     Tel: +65 6874 3326
     Tel: +65 6780 1856                                Email: leongyw@imre.a-star.edu.sg
     Email: coi-chp@tp.edu.sg
                                                       Precision Engineering Centre of Innovation
     Centre of Innovation for Electronics and IoT      Singapore Institute of Manufacturing Technology,
     Nanyang Polytechnic                               A*STAR
     Mr John Fung                                      Mr Peter Shi
     Tel: +65 6550 0978                                Tel: +65 6590 3152
     Email: john_fung@nyp.edu.sg                       Email: zfshi@simtech.a-star.edu.sg

     Centre of Innovation for Supply Chain
     Management
     Republic Polytechnic
     Mr Edmund Chan
     Tel: +65 9232 0228
     Email: coi-scm@rp.edu.sg

     EcoLabs Centre of Innovation for Energy
     Nanyang Technological University, Singapore and
     Sustainable Energy Association of Singapore
     Mr Mahesh Kumar
     Tel: +65 6904 1120
     Email: mahesh.kumar@ntu.edu.sg

     Environmental and Water Technology Centre
     of Innovation
     Ngee Ann Polytechnic
     Ms Ida Kwan
     Tel: +65 6460 8168
     Email: ida_kwan@np.edu.sg

22                                                                                                                23
Notes

24
For more information, please contact MTI at mti_email@mti.gov.sg /
              Enterprise Infoline at enquiry@enterprisesg.gov.sg
                         or refer to www.smeportal.sg.

Information accurate as of 4 June 2020
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