Overview

• Singapore’s Economic Resilience Taskforce announced a S$100,000-per-company Business Adaptation Grant launching in October to help firms adjust to US tariff measures under a co-funding model.
• The grant features two streams running for two years: exporters receive advisory on free trade agreements, trade compliance, legal contracts, supply-chain optimisation and market diversification; and companies can claim funds for logistics, inventory-holding and other reconfiguration costs.
• Small and medium enterprises will receive a higher percentage of government co-funding than multinationals in recognition of their two-thirds share of local employment.
• Since April, the taskforce has engaged over 3,000 business leaders, union representatives, workers and graduates to shape the grant design and broader support schemes.
• Some businesses have deferred major investment decisions as they anticipate US tariff letters that will impose 25% to 32% levies on Malaysia and Indonesia, with Singapore remaining on standby.