SINGAPORE: From customised support for high-growth companies to making financing schemes more accessible and enhancing support for employer-led ...
SINGAPORE: From customised support for high-growth companies to making financing schemes more accessible and enhancing support for employer-led training, Singapore will continue to double down on efforts to help businesses grow while ensuring that workers benefit from the transformation.
“Through Scale-up SG, the company will receive targeted support to develop a commercially viable product prototype, as well as to shortlist and validate acquisition targets,” he explained. The Enterprise Financing Scheme will streamline eight existing SME financing initiatives and is set to cover financing needs across different stages of growth, including trade, working capital, fixed assets, venture debt, mergers and acquisitions and project financing.
Following the first phase where a sectoral approach was taken with the launch of 23 Industry Transformation Maps, the Government has embarked on the next phase to build and deepen linkages between complementary industries. “We will do so by requiring businesses embarking on EDG projects from Apr 1, 2020, to commit to fulfilment of worker outcomes. These outcomes may include wage increases, job creation, job redesign or hiring of older workers.
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