New Business Adaptation Grant of up to S$100k to help Singapore firms facing US tariffs
Small- and medium-sized companies in Singapore can claim up to 50 per cent of costs incurred when strengthening their supply chains, while larger firms can claim up to 30 per cent. The new Business Adaptation Grant — which is capped at S$100,000 — also applies when they change business operations to deal with tariffs. Deputy Prime Minister Gan Kim Yong said the grant will support those directly and indirectly impacted by tariffs. If needed, it may also be extended when it ends in two years. CNA's Nasyrah Rohim reports.
Small- and medium-sized companies in Singapore can claim up to 50 per cent of costs incurred when strengthening their supply chains, while larger firms can claim up to 30 per cent. The new Business Adaptation Grant — which is capped at S$100,000 — also applies when they change business operations to deal with tariffs. Deputy Prime Minister Gan Kim Yong said the grant will support those directly and indirectly impacted by tariffs. If needed, it may also be extended when it ends in two years. CNA's Nasyrah Rohim reports.
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