- SGD100K grant launched to help firms adapt to the U.S. tariff impact.
- Support for exporters and manufacturers includes advisory and logistics support.
- Workforce measures offer career guidance and HR upskilling support.
The Singapore Economic Resilience Taskforce (SERT), established in April 2025, has introduced measures to support local companies facing challenges from new U.S. tariffs.
At a recent event updating SERT’s initiatives, Minister for Manpower Tan See Leng announced the Business Adaptation Grant, designed to help businesses navigate the evolving global trade landscape. The grant, capped at SGD100,000 ($78,000) per company, includes a co-funding element and is set to launch in October 2025.
The grant targets two categories of businesses, offering support for a "time-bound period" of two years. The first group comprises companies that export to or operate in overseas markets impacted by tariffs. Eligible firms in this category will receive assistance for free trade agreements, trade compliance advisory, legal and contractual advisory, supply chain optimization, and market diversification advisory.
The second group includes companies with manufacturing operations, either locally or abroad, needing support for reconfiguration costs, such as logistics and inventory holding expenses. Small and medium enterprises (SMEs), which employ around two-thirds of Singapore’s workforce, are expected to benefit from a higher percentage of government co-funding compared to non-SMEs. This initiative complements existing schemes aimed at helping businesses enter new markets, innovate, and grow.
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To support workers amid economic uncertainty, the Singapore Government, in collaboration with the National Trade Union Congress’s Employment and Employability Institute (NTUC-e2i), will enhance access to career guidance services.
This effort aligns with the newly launched “Career Health SG” movement, which focuses on helping Singaporeans build resilient and fulfilling careers. Additionally, the government will provide temporary enhanced financial support for core human resources (HR) qualifications to equip HR professionals with the skills to manage and support their workforce in a changing environment.
Since its inception, SERT has been closely monitoring global trade dynamics, engaging with businesses and workers, and preparing strategic responses to ensure Singapore’s economic resilience.