S$132 million handed out to more than 40,000 small businesses most affected by COVID-19 restrictions

A total of S$132 million was disbursed to small businesses in sectors most affected by safe management measures last year, such as firms in the food and beverage, retail, tourism and hospitality sectors.

SINGAPORE: More than 40,000 small businesses hit hard by the COVID-19 pandemic each received up to S$10,000 last week as part of a government grant to help them get back on their feet. 

A total of S$132 million was disbursed to small businesses in sectors most affected by safe management measures last year through the Small Business Recovery Grant (SBRG), said the Ministry of Trade and Industry (MTI) and Inland Revenue Authority of Singapore (IRAS) on Monday (Jun 27). 

These include firms in the food and beverage, retail, tourism and hospitality sectors.

The grant, which provides one-off cash support to businesses, was announced at Budget 2022 as part of the S$500 million set aside for the Jobs and Business Support Package. 

MTI said eligible businesses received S$1,000 for each Singapore citizen or permanent resident employee with mandatory Central Provident Fund contributions and who was employed from Nov 1, 2021 to Dec 31, 2021. 

This was capped at S$10,000 per firm, the ministry said. 

Eligible sole proprietorships, partnerships as well as hawkers, market and coffee shop stallholders licensed by the Singapore Food Agency also received a flat payout of S$1,000 - even if they did not employ any workers during this period, said MTI. 

 This article was originally published on Channel News Asia on 27 June 2022. Its inclusion on this website is solely for education purposes. 

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