More Than 40,000 Small Businesses Affected By COVID-19 Restrictions Received S$132 Million In Singapore
Last year, a total of S$132 million was distributed to small businesses in the sectors most affected by safe management measures, such as food and beverage, retail, tourism, and hospitality. SINGAPORE: More than 40,000 small businesses affected by the COVID-19 pandemic received up to S$10,000 in government grants last week to help them get back on their feet. According to the Ministry of Trade and Industry (MTI) and the Inland Revenue Authority of Singapore (IRAS), a total of S$132 million was disbursed to small businesses in sectors most affected by safe management measures through the Small Business Recovery Grant (SBRG) last year (Jun 27). These companies include those in the food and beverage, retail, tourism, and hospitality industries. The grant, which provides one-time cash assistance to businesses, was announced as part of the S$500 million set aside for the Jobs and Business Support Package in Budget 2022. According to MTI, eligible businesses received S$1,000 for each Singapore citizen or permanent resident employee who made mandatory Central Provident Fund contributions and worked between November 1, 2021 and December 31, 2021. According to the ministry, this was limited to S$10,000 per firm. According to MTI, eligible sole proprietorships, partnerships, as well as hawkers, market, and coffee shop stallholders licenced by the Singapore Food Agency, received a S$1,000 flat payout even if they did not employ any workers during this period.
