- AS OF 15 JAN 2021 - SINGAPORE DAILY COVID CASES: 45 NEW CASES, 1 IN COMMUNITY AND 29 IMPORTED CASES
- Risk Management: Insurance Coverage for Business Premises – What You Need to Know
- Uncertain Times Still Ahead for 2021 – SME Loans Available Under Enterprise Singapore
- The Maybank Momentum Grant for Singapore Non-Profits
- Giving Back To Society: Cycling Without Age – Helping The Elderly Feel The Wind In Their Hair
- Risk Management: Understanding Product Liability and Product Liability Insurance
- Guide to Google Ads Grant for Non-Profit Organisations
- New MOM Requirements for Employees on Work Permit, Training Work Permit and S Pass Holders Entering Into Singapore From 1st Jan 2021
- Everything You Need To Know About Writing and Issuing Cheques
- Our 2020 – Top Google Search Trends For The Year
COVID-19 Support Measures - Resilience Budget 2020

It has been five weeks since the first stimulus package was announced on 18 February 2020. From a number of 80 COVID-19 cases since then, it has escalated to 683 cases as of today. On 11 March 2020, World Health Organization (WHO) has upgraded the status of the outbreak from epidemic to pandemic, which has also unfortunately translated into a Global Financial Crisis.
This afternoon, Deputy Prime Minister Heng Swee Keat announced a second stimulus package - The Resilience Budget - which will be funded from a combination of current and past reserves as another S$48 billion will be allocated for additional support measures.
The Resilience Budget focuses on three key areas:
- Save jobs, support workers, protect livelihood
- Help Enterprises with Cashflow, Cost and Credit
- Strengthen economic and social resilience
As fellow Small and Medium Enterprises (SMEs) and self-employed individuals, our top concern is, how are we benefiting from the Resilience Budget?
Singapore economy has contracted 2.2% year-on-year in Q1 2020, and full-year growth forecast has been slashed to between -4% and -1%. As the COVID-19 pandemic worsens, and with global shocks affecting uncertainties and cutback in economic activities, there is an urgency for the Singapore Government to step in to keep the economy afloat.
With the Resilience Budget announced this afternoon, we have to remain optimistic and of course, RESILIENT.
-------------------------------------------------------------------------------------------------------
Not sure whether your company can be qualified for bank loans or alternative lending? Try our A.I assisted loan, and Smart Towkay team will send you a lending report within 24 hours' time. With the lending report, we aggregate and recommend the highest chance of approval be it with BANKS / FINANCIAL INSTITUTIONS or Alternative lenders like Peer to Peer Lenders or even B2B lender!
Got a Question?
WhatsApp Us, Our Friendly Team will get back to you asap :)
Share with us your thoughts by leaving a comment below!
Stay updated with the latest business news and help one another become Smarter Towkays. Subscribe to our Newsletter now!
