Singapore Launches Business Adaptation Grant to Support SMEs in Evolving Trade Environment
The Singapore government introduces a Business Adaptation Grant to aid local businesses, especially SMEs, in navigating the changing US tariff landscape. With a cap of SGD 100,000 per company, the grant aims to provide financial support for supply chain reviews, pricing adjustments, and exploring new markets.
- Country:
- Singapore
The Singapore Economic Resilience Taskforce (SERT) announced the launch of a Business Adaptation Grant, set to roll out in October, aimed at assisting local businesses, particularly SMEs, in adapting to a shifting US tariff landscape.
With grants reaching up to SGD 100,000 per company, the initiative is a strategic effort to help businesses realign their operations and maintain competitiveness in the global market. The goal is to provide necessary tools and knowledge for businesses to adjust their supply chains, pricing strategies, and explore alternative markets.
According to SICCI Chairman Neil Parekh, significant emphasis will be placed on cooperation with government agencies, like Enterprise Singapore, to ensure effective utilization of this grant by businesses within the Indian community and beyond.
(With inputs from agencies.)
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