Budget 2020: Enterprise Grow Package to help companies digitalise and enter new markets
A new Enterprise Grow Package will support companies looking to grow and enter new markets, Deputy Prime Minister and Finance Minister Heng Swee Keat said on Tuesday.
"This package aims to help enterprises identify business needs, adopt pre-approved digital technologies and take the first steps to enter new markets," Mr Heng said in his Budget speech.
One initiative is the launch of the GoBusiness platform, a single touchpoint for enterprises to transact with the government digitally.
The existing SMEs Go Digital programme will also be expanded to drive greater adoption of digital technology, he said.
Across all 23 sectors covered by the Industry Transformation Maps, Mr Heng said the government will have Industry Digital Plans or equivalents and enable companies to access pre-approved digital solutions.
The Market Readiness Assistance grant will also be enhanced to help more companies enter new markets. For example, funding support and coverage will be expanded to include free trade agreement consultancy.
A NEWSLETTER FOR YOU
SGSME
Get updates on Singapore's SME community, along with profiles, news and tips.
For more Budget 2020 stories, visit bt.sg/budget20.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
US-China competition is not worrying, lack of communication is: Gan Kim Yong
Singapore keen on ‘talent exchange’, developing AI ‘guardrails’ with the US
Social cohesion, long-term planning, political stability are imperatives for Singapore: PM Lee
Singapore’s industrial harmony cannot be taken for granted: Ng Chee Meng
Singapore’s employment growth eases in Q1, as tighter foreign worker quotas kick in for construction firms
US-Singapore FTA marks 20 years: a bridge ‘at the right place, right time’