, Singapore
Image by Jason Goh from Pixabay

Over $4b in grants distributed to businesses, workers: IRAS

More than 120,000 enterprises received grants from the agency.

The Inland Revenue Authority of Singapore (IRAS) assisted over 120,000 enterprises in Singapore through grants in FY22/23.

Based on the agency’s annual report, it disbursed $4.6b in grants to support local hiring and wage growth for Singaporeans.

The grants come under various schemes, including Jobs Growth Incentive (JGI), Progressive Wage Credit Scheme (PWCS), Senior Employment Credit (SEC) and Small Business Recovery Grant (SBRG). 

Breaking down the grants by the scheme, IRAS said $2.7b of the $4.6b were under the JGI to support over 68,000 businesses with local hiring.

Meanwhile, $1b was disbursed under the enhanced PWCS to “provide transitional wage support for over 70,000 employers, with higher Government co-funding for lower-wage workers.”

Under the SEC, IRAS distributed $319m to over 95,000 employers who hired Singaporean workers.

The agency also distributed  $136m under the SBRG to provide over 41,000 eligible small businesses most impacted by the COVID-19 restrictions a one-off cash support in June 2022.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!


ION Orchard marks 15 years as a premier retail destination
The mall is proactive in conducting surveys to identify trends and optimise its tenant mix.
ION Orchard leads charge in sustainable takeaway practices
 Shoppers will enjoy discounts when they opt for a reusable mug or food container from Muuse.