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Budget 2020: Training, mentorship for 900 SME leaders over next 3 years

UNDER a new programme, business leaders of Singapore’s promising small and medium-sized enterprises (SMEs) will get a boost in driving their business transformation.

This year, Enterprise Singapore (ESG) will launch the Enterprise Leadership for Transformation Programme, Deputy Prime Minister and Finance Minister Heng Swee Keat announced in his Budget speech on Tuesday. The government aims to train and mentor business leaders of 900 SMEs over the next three years under the programme.

The government will also work with institutes of higher learning, banks and industry experts as well as facilitate collaboration under this programme.

Meanwhile, ESG will expand the reach of its existing Enterprise Development Grant to broaden transformation.

The grant provides integrated support for enterprises to innovate and internationalise. In FY2020, the government expects to support about 3,000 projects through the grant, an increase of more than 10 per cent from today’s number, Mr Heng said.

The programme and expanded reach of the grant are part of the Enterprise Transform Package announced by the minister on Tuesday, meant to strengthen leadership and management capabilities.

For more Budget 2020 stories, visit bt.sg/budget20.