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Budget 2022: Workers and businesses in struggling sectors to get S$500M through support package

Workers and firms in sectors that are in sectors that are still struggling with the Covid-19 impact will get S$500 million through a Jobs and Business Support Package.

Eligible small-and-medium sized enterprises will get a payout of S$1,000 per local employee, with a cap of S$10,000 per firm.

Struggling sectors like cinemas, F&B, tourism

These include firms in sectors such as food and beverage, retail, and performing arts and arts education. The tourism, hospitality, as well as conventions and exhibition sectors will also be included.

Other firms that are eligible include operators of sports facilities, cinemas, museums, art galleries, indoor playgrounds, family entertainment centres, and historical sites.

Companies must have an annual operating revenue of less than S$100 million, or employ fewer than 200 employees as at Dec 31 last year, among other criteria.

Finance Minister Lawrence Wong added that local sole proprietors and partnerships in eligible sectors – like Singapore Food Agency (SFA) licensed hawkers, market and coffeeshop stallholders – who do not hire local employees, will also get a one-off payout.

Featured Image Credit: The Independent

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