Singapore has unveiled a S$900 million support package aimed at assisting businesses and households facing economic challenges. This initiative builds upon previous measures introduced earlier this year to mitigate the impact of rising energy costs and global uncertainties.
The package includes enhanced support for businesses through the Business Adaptation Grant (BizAdapt), which offers up to 70% funding for eligible costs, capped at S$100,000 per enterprise. This grant is designed to help companies adapt their operations and strengthen supply chain resilience amid economic uncertainties.
For households, the government is providing additional Community Development Council (CDC) Vouchers, bringing forward the S$500 vouchers to June 2026. Eligible Singaporeans aged 21 and above will receive these vouchers to help manage cost pressures.
These measures are part of Singapore's ongoing efforts to support its citizens and businesses during challenging times. The government continues to monitor the situation and may introduce further support as needed.