Singapore Budget 2019: An overview on business initiatives

To ensure that Singapore firms remain competitive and stay relevant to the world, Budget 2019 has outlined two key areas for industry transformation:

• Encouraging strong partnerships, within Singapore and across the world
• Building deep enterprise capabilities

Encouraging strong partnerships

One of the key areas that the government is focusing on is on building up global partnerships, so that firms and people can forge new areas of collaboration with other innovation centres. The Government recognises the significant role that trade associations and chambers (TACs) play in helping local enterprises to grow their external wings.

Programs and Initiatives to help businesses to build strong partnerships in Singapore and across the world:

1. Local Enterprise and Association Development programme

This programme will help to strengthen support for TACs through the Local Enterprise and Association Development programme.

2. Five-year road maps for TACs

Enterprise Singapore will develop these road maps with TACs that have “demonstrated strong leadership and shown ambition to do more for the business community”. The road map will help TACS take on a more strategic and longer-term approach in driving industry transformation, and gain access to funding.

3. Global Innovation Alliance (GIA)

全球启动热点的节点，如曼谷，北京，柏林，雅加达和旧金山将为企业家和学生提供学习和建立全球网络的新机会。

4. Singapore Fintech Festival and the Singapore Week of Innovation and Technology

This event that will happen in mid-November will help to maximise efforts in bringing the global innovation community to Singapore together, and foster opportunities to explore and collaborate.

5. Centres of Innovation

These centres will focus on aquaculture and energy, as part of the Government’s push to help SMEs with technology innovation. The Aquaculture Centre will support the growth and internationalisation of local enterprises, while improving Singapore’s food resilience. The Energy Centre aims to drive industry-led innovation in energy efficiency, renewable energy and electric mobility.

Building Deep Enterprise Capabilities

政府的另一个主要领域是继续帮助中小企业通过在三个方面提供支持：

• Providing customised assistance
• 更好的融资选择
• Supporting technology adoption

Programmes and initiatives to help businesses build up on enterprise capabilities:

1.Scale-up SG programme and Innovation Agents

为期两年的飞行员，帮助公司挖掘行业专业人士，了解创新和商业化技术的机会。这有助于当地公司深化他们的能力和国际性。这反过来，将为当地工人提供良好的工作，更好的职业机会和工资增长。

2.SMEs Go Digital programme

会计，海运和施工等部门被添加到该计划中，由于以后包括更多的部门。该计划旨在指导中小企业对相关数字技术和技能培训计划。

3.SME Co-Investment Fund III

这是针对的catalyzingprivate-sector funding in Singapore-based SMEs to help them scale up. Such investments have a direct correlation to investments and employment in Singapore.

4.跨境创新平台

MAS and the Info-communications Media Development Authority (IMDA) will jointly pilot a cross-border innovation platform for SMEs, known as 'Business sans Borders'. Powered by artificial intelligence, this marketplace aims to help SMEs find global buyers and suppliers.

5.Automation Support Package and the SME Working Capital Loan

该支持方案延长了解较小公司的财务需求，政府与参与金融机构共享风险，共同提供高达70％的技术项目成本。

6。Enterprise Development Grant and Productivity Solutions Grant

延长并增强以促进创新。

7。Enterprise Financing Scheme

简化现有的sma的融资计划ll and medium-sized enterprises.

8。R&D and new Centres of Innovation

The continued investments in technology, innovation and enterprise is to move towards keeping Singapore as the top country regionally and internationally.

9.One-stop portal

To make it easier for businesses to transact with the Government, the Ministry of Trade and Industry and relevant agencies are developing a one-stop portal, with a pilot to be launched for the food services sector by the third quarter of 2019. Businesses will deal with only one point of contact, instead of up to 14 different ones as they do today.