Budget 2021
Budget 2021
Deputy Prime Minister, Coordinating Minister for Economic Policies and Minister for Finance, Mr Heng Swee Keat, delivered the Budget Statement on Tuesday, 16 February 2021 in Parliament.
Find out which schemes you may be eligible for, and how you can apply for them in the links below.
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Download the Budget 2021 Business Booklet here.
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Download the Budget 2021 - Budget Navigator (for Businesses) here.
Visit the MOF Website for more information on Budget 2021.
List of Government Assistance related schemes:
Grants
Capability Transfer Programme (CTP)
Get funding support for developing and acquiring new capabilities from foreign specialists.
Enhanced Training Support Package (ETSP)
The ETSP is a time-limited scheme to cover up to 90% course fee funding (for selected sectors) and up to $7.50/hr absentee payroll funding for selected sector-specific traning programmes by SSG-appointed training partners for courses starting before 1 Jan 2022.
Enterprise Development Grant (EDG)
The EDG helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas. Receive up to 70% support for eligible costs. (up to 80% from 1 April - 31 March 2022)
Jobs Growth Incentive (JGI)
The Jobs Growth Incentive (JGI) was announced on 17 Aug 2020 to encourage employers to accelerate their hiring of local workforce from September 2020 to February 2021 (inclusive), so as to create good and long-term jobs for locals. The JGI will provide one year of salary support from the point of hire for each new local hire by employers that managed to increase their local workforce from September 2020 to February 2021 (inclusive). It was enhanced in 5 Oct and 15 Oct to provide higher tier of support to persons-with-disabilities and ex-offenders, respectively.
To be eligible for the JGI, firms must have increased their local workforce, as compared to Aug 2020. This must be accompanied by an increase in local workforce earning at least $1,400 a month, as compared to Aug 2020.
Job Support Scheme (JSS) Extension for employers in Tier 1 and 2 sectors
No application is required. Receive 25% to 75% of the first $4,600 of gross monthly wages paid to each local employee. The cash grant will be automatically computed based on mandatory CPF contribution data.
Market Readiness Assistance (MRA) Grant
SMEs looking to take their business overseas can receive up to 70% support for eligible costs with the MRA grant from 1 April 2020 - 31 March 2023. (up to 80% from 1 April - 31 March 2022).
Open Innovation Platform (OIP)
The Open Innovation Platform supports companies in getting quality and multi-disciplinary solutions to meet their digital innovation and business needs; enhanced with new features to increase scale and speed.
Part-Time Re-employment Grant (PTRG)
Provides funding support to companies that voluntarily commit to providing part-time re-employment to all eligible seniors who request for it.
Productivity Solutions Grant (PSG)
The PSG supports businesses in the adoption of productivity solutions. Businesses can choose from a list of pre-scoped solutions and receive up to 80% funding support for eligible costs from 1 April 2020 - 31 March 2022.
Senior Worker Early Adopter Grant (SWEAG)
Provides funding support to companies that increase their own retirement and re-employment ages ahead of the legislated changes.
SkillsFuture Work-Study Programmes (WSPs)
Businesses can groom and hire fresh talent through Work-Study Programmes across Certificate, Diploma, Post-Diploma, and Degree levels. Businesses will jointly design and deliver with Institutes of Higher Learning (IHLs) and appointed private providers.
Wage Credit Scheme
No application is required. The government provides co-funding of wage increments for Singaporean employees earning a gross monthly wage of up to $5,000.
Toolkits / Programmes
Chief Technology Officer-as-a-Service (CTOaaS)
CTOaaS supports SMEs to uncover their digitalisation needs and transform their business operations through professional IT consultancies offering end-to-end digital advice, from digital consultancy tailored to business needs, to downstream project implementation. More details in due course.
Corporate Venture Launchpad (VCL)
CVL provides co-funding for corporates to build new ventures through pre-qualified venture studios. More details in due course.
Digital Leaders Programme
The Digital Leaders Programme enables promising, high-potential local companies to become digital leaders by equipping them with digital capabilities and talent to transform their business models and capture new growth opportunities. More details in due course.
Emerging Technology Programme
The Emerging Technology Programme co-funds the costs of trials and adoption of frontier technologies like 5G, aritificial intelligence, and trust technologies. More details in due course.