Budget 2023: Funding boosts for enterprises will help Singapore develop globally competitive firms

• S$150 million set aside for SME Co-Investment Fund, S$1 billion boost to Singapore Global Enterprises initiative 

• Job-Skills Integrators to be appointed in certain sectors to optimise training and job placement 

TOP-UPS to the SME (small and medium-sized enterprise) Co-Investment Fund and the Singapore Global Enterprises initiative will increase the availability of capital to firms, and help Singapore develop a pipeline of globally competitive businesses, said industry observers.

In his Budget 2023 speech on Tuesday (Feb 14), Finance Minister Lawrence Wong announced that an additional S$150 million would be set aside for the SME Co-Investment Fund, while S$1 billion would be added to Singapore Global Enterprises initiative.