SBF to Launch New Grant Programme for SMEs supported by Salesforce
SMEs can now look forward to applying for the Salesforce Small Business Relief Grants Programme to aid their recovery journey and emerge stronger.
The COVD-19 pandemic has hit small and medium-sized enterprises (SMEs) especially hard, affecting the lives and livelihoods of businesses and their workforce. Given the dire economic outlook for the immediate term, it is critical for financial support and measures to be in place to aid the sustainability and recovery of our SMEs.
SMEs as building blocks of Singapore’s economy
SMEs are an integral part of Singapore’s economy, accounting for 99 per cent of all Singapore-based companies, 72 per cent of total employment and contributing 45 percent of our GDP in 2019. These SMEs are vital building blocks in Singapore’s economic development and play a pivotal role in sustaining Singapore’s robust and resilient economy.
The Singapore Business Federation (SBF), together with Salesforce Singapore, are proud to launch the Salesforce Small Business Relief Grants Programme, a new initiative to help the local SME community. The uncertainty of the prolonged impact due to the COVID-19 has created an unstable economy, but this grant can help your business recover and thrive despite widespread challenges.
SMEs are the heart of our communities
To provide much-needed relief and assistance to help the more badly affected SMEs, the Salesforce Small Business Relief Grants Programme offers S$960,000 in cash grants to eligible companies to aid their recovery.
With this initiative, 120 eligible companies can each expect a one-off S$8,000 grant to address their immediate cash flow needs, preserve jobs, and embark on initiatives to adapt and emerge stronger from this challenging period.
Your business may require the grant if you encounter the following signs:
- You need help staying afloat due to shutdowns. Global changes to how we work and live may have forced your business to adapt, which can be costly.
- You need specific equipment, talent, or space to run or expand your business. Additional funding may help to boost your business needs to reach its next stage of growth, regardless of economic uncertainty.
Applications for the grant will be open from 23 November 2020 to 23 December 2020. The selection process is expected to be completed by 31 January 2021. Provisionally approved grant recipients will be contacted thereafter, and successful grant recipients will be publicly announced in February 2021.
Eligible SMEs are strongly encouraged to apply for this grant to maximise the benefits to transform their businesses and emerge stronger from COVID-19. To find out more on how your business can apply for the grant, please visit the site or contact our team via [email protected].
The Salesforce Small Business Relief Grants Programme is sponsored by Salesforce.
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