Budget 2024: SME schemes will drive sustainability but guidance, implementation ‘crucial’

• Energy Efficiency Grant expanded to manufacturing, construction, maritime as well as data centres and their users; new advanced tier
• Partnerships for Capability Transformation (PACT) to cover capability training, internationalisation and corporate venturing.
• Enterprise Financing Scheme - Green extended, expanded

IMPROVEMENTS to existing schemes will help small and medium-sized enterprises (SMEs) pursue sustainability and partner multinational enterprises (MNEs), said industry watchers.

But they noted that many SMEs may not be able to maximise the benefits – and guidance for those who do qualify remains important.

In the Budget speech on Friday (Feb 16), Finance Minister Lawrence Wong announced expansions to several existing SME schemes.