Budget 2020: Training, mentorship for 900 SME leaders over next 3 years
UNDER a new programme, business leaders of Singapore's promising small and medium-sized enterprises (SMEs) will get a boost in driving their business transformation.
This year, Enterprise Singapore (ESG) will launch the Enterprise Leadership for Transformation Programme, Deputy Prime Minister and Finance Minister Heng Swee Keat announced in his Budget speech on Tuesday. The government aims to train and mentor business leaders of 900 SMEs over the next three years under the programme.
The government will also work with institutes of higher learning, banks and industry experts as well as facilitate collaboration under this programme.
Meanwhile, ESG will expand the reach of its existing Enterprise Development Grant to broaden transformation.
The grant provides integrated support for enterprises to innovate and internationalise. In FY2020, the government expects to support about 3,000 projects through the grant, an increase of more than 10 per cent from today's number, Mr Heng said.
The programme and expanded reach of the grant are part of the Enterprise Transform Package announced by the minister on Tuesday, meant to strengthen leadership and management capabilities.
A NEWSLETTER FOR YOU
SGSME
Get updates on Singapore's SME community, along with profiles, news and tips.
For more Budget 2020 stories, visit bt.sg/budget20.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Daily Debrief: What Happened Today (Apr 26)
Singapore must prepare for slower growth at higher costs: MAS
Outgoing Singapore, Indonesia leaders to hold their final retreat in Bogor on Apr 29
Singapore factory output reverses into negative territory in March, down 9.2%
Singapore’s growth should strengthen to ‘around potential rate’, output gap to close by end-2024: MAS
Gan Kim Yong visits US and Canada; to mark 20th anniversary of US-Singapore FTA