- S$5.2B allocated to create up to 20,000 jobs & 35,000 traineeships
- GST extended to low value imported goods & services from 2023
- S$60M announced for Agri-Food Cluster Transformation Fund
Every year, entrepreneurs anticipate how the budget announcements will directly impact their business. The budget announcements this year are especially important to startups, as many of them are still recovering from the financial instability caused by the pandemic. Below, we explore three ways that startups and small businesses can make better informed decisions based on Singapore Budget 2021.
Key Highlights
1. Extended Support For Hiring New Employees
Recruitment was at a standstill for many companies during the Pandemic. This resulted in a rising unemployment rate as well as delayed growth within small businesses. The Job Support Scheme will support partial employee wage for the next few months, in an attempt to encourage startups to resume hiring activities...