Singapore Budget 2021 - All Government Grants You Need To Know - For Business Owners

Extension of Job Support Scheme (JSS)

For industries in Tier 1, namely Aviation, Tourism and Aerospace sectors:

JSS will be extended for 6 months.
30% from April to June 2021.
10% from June to August 2021.

For industries in Tier 2, namely Retail arts & culture, food services and the built environment:

JSS will be extended for 3 months.
10% from April to June 2021.

For industries in Tier 3A such as nightlife, the government will provide assistance to help businesses pivot or wind down.

Continue support for firms in other sectors till Mar 2021, as previously announced.

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Extension of Jobs Growth Incentive Scheme (JGI)

Firms that hire local staff will receive a subsidy of 25% of the first S$5,000 of their gross monthly salaries. Eligible employers can continue to receive up to $15,000 per non-mature hire.

The scheme is extended to 30th September 2021.

Those that hire mature workers, persons with disabilities and ex-offenders will get more help of up to 18 months of enhanced wage support. Increase supportable gross monthly wage cap to first $6,000, up from $5,000.

Eligibility: Employers must increase both their local workforce and number of local workers earning at least S1,400 a month.

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Extension of SGUnited Jobs and Skills Package

Namely the SGUnited Skills, SGUnited Traineeships and SGUnited Mid-Career Pathways Programmes - will also be extended by a year until Mar 2022 to provide local workers with additional support before landing a job.

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Targeted Support For Worst Hit Sectors

For the Aviation sector:

$870 million will be allocated to preserve the core capabilities and Singaporeā€™s position

Public Land Transport (Taxi and PH car drivers):

$133 million will be set aside for COVID-19 Driver Relief Fund
- $600 per vehicle per month from Jan-Mar 2021, and $450 per month from Apr-Jun 2021.

Arts and Culture & Sports:

$45 million will be set aside for Arts and Culture Resilience and Sports Resilience Package. This is to enhance and deepen skills while transforming business models. It is also to support self-employed persons in these sectors.

COVID-19 Recovery Grant

Support workers who lost their jobs or experienced significant income loss

Up to $700 per month for 3 months for employees who have lost their jobs or are placed on involuntary no-pay leave for at least 3 consecutive months.

Up to $500 per month for 3 months for employees and self-employed persons who are facing average income loss of at least 50% for at least 3 consecutive months.

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80% Support For

In line with digitalisation for our SMEs, the level of support for PSG, EDG and MRA will be extended for another 6 months till March 2022.

This is in line with the enhancement of existing enterprise schemes.

Its time to digitalise your business! Talk to us and see how we can help you with it.

Emerging Technology Programme

$1 billion will also be set aside to encourage SMEs to invest in new and emerging technologies by co-funding costs of adopting frontier technologies (eg. 5G and AI)

More details will be updated here.

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Digital Leaders Programme

$1 billion will be allocated to initiatives such as

To allow SMEs access to professional IT consultancies

Digital Leaders Programme
To allow SMEs to hire core digital team and developing digital transformation roadmap.

Speak to us and we can advise on your digital roadmap as well for SMEs.

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Wage Credit Scheme

The Wage Credit Scheme, which helps support salary increments for companies to retain or draw in locals, will be extended for a year, at a co-funding level of 15 per cent for 2021.

In Budget 2020, the government co-funding ratios for wage increases in 2019 and 2020 was further raised from the current 15% and 10%, to 20% and 15% respectively. The qualifying gross wage ceiling was also raised from $4,000 to $5,000 for both years.

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Enterprise Financing Scheme-Venture Debt programme

This is aimed at startups, where the Government takes up to 70 per cent of the risk on loans with participating financial institutions. Its loan quantum cap will be increased from S$5 million to S$8 million.

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Investment in 3 Key Platforms To Support Businesses

The Government will launch a Corporate Venture Launchpad, which will provide co-funding to companies to build new ventures through pre-qualified venture studios.

The Open Innovation Platform, which matches problems faced by companies and public agencies with solution providers, will be improved to include new features such as a cloud-based Digital Bench to accelerate virtual prototyping and testing.

Global Innovation Alliance, a programme aimed at developing cross-border partnerships, will now be able to tap on subsidies of up to 70 per cent. The government will also expand 15 city links today to more than 25 cities around the globe over the next 5 years.

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