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SINGAPORE BUDGET 2024

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

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Derryn Wong

Derryn Wong

Published Fri, Feb 16, 2024 · 09:23 PM
    • Among the enhanced schemes for SMEs, the Energy Efficiency Grant has been expanded to include data centres and their users.
    • Among the enhanced schemes for SMEs, the Energy Efficiency Grant has been expanded to include data centres and their users. PHOTO: BLOOMBERG
    • 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.

    Singapore Budget 2024Singapore SMEs

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