Singapore to launch business adaptation grant in October

It support companies in reconfiguring overseas operations.

Singapore will introduce a new Business Adaptation Grant to help local companies assess and adapt their overseas operations and supply chains.

The announcement was made by Minister for Manpower and Minister-in-charge of Energy, Science & Technology, Tan See Leng, at the Singapore Economic Resilience Taskforce press conference on Wednesday.

The grant, set to roll out in October 2025, aims to support firms that are impacted by new tariffs or other external shocks affecting their international operations.  It will be available for two years and is targeted at companies that export to, or operate in, overseas markets.

“Businesses with local or overseas manufacturing operations will also receive support for their reconfiguration needs, which include logistics and inventory holding costs,” Tan said.

The move comes as companies across sectors review investments and strategic plans in light of global volatility. According to Tan, many businesses are closely monitoring developments, with some choosing to delay major decisions.

The new grant is part of a broader suite of measures to maintain economic resilience and complements existing schemes such as the Market Readiness Assistance (MRA) Grant, which offers up to $100,000 per new market; the Enterprise Financing Scheme – Trade Loans, with its loan ceiling permanently doubled to $10m; the extended Double Tax Deduction for Internationalisation, which supports eligible overseas expansion costs; and the Enterprise Development Grant and Enterprise Financing Scheme – Mergers & Acquisitions (EFS-M&A), which has been expanded to include asset acquisitions through 2030.

The government is also stepping up efforts to support the local workforce. Notable initiatives include the SkillsFuture Level-Up Programme for mid-career workers, the Career Health SG initiative launched yesterday, and enhanced career guidance through Polaris by Volunteer Career Advisors.

Preliminary data from the Ministry of Manpower showed that employment rates for the 2025 graduating cohort in June (51.9%) were slightly higher than the same period last year (47.9%), providing cautious optimism despite market concerns.

“This is not a crisis or a recession. Our labour market remains resilient, with more vacancies than jobseekers,” Dr Tan assured, pointing to 2,400 public sector roles currently open to fresh graduates.

The Economic Resilience Taskforce will continue to monitor both global trends and the effectiveness of ongoing support measures. Should conditions worsen unexpectedly, Tan affirmed the government’s readiness to step in with additional assistance.

The press conference was attended by Deputy Prime Minister Gan Kim Yong, who chairs the task force and Minister for Digital Development and Information Josephine Teo. National Trades Union Congress (NTUC) Secretary-General Ng Chee Meng, Singapore National Employers Federation (SNEF) President Tan Hee Teck, and Singapore Business Federation (SBF) Chairman Teo Siong Seng, were also present at the event.