Salesforce Small Business Relief Grants Programme Announced to Help Businesses Recover and Grow
● The grant will support the recovery and growth of Small and Medium-sized Enterprises (SMEs) in Singapore
Thursday, 19 November 2020 [Singapore] – Salesforce, the global leader in CRM, has partnered with SBF for the Salesforce Small Business Relief Grants Programme to support selected Singapore-registered small and medium-sized enterprises (SMEs). Applications for the grant will begin on 23 November 2020.
In partnership with SBF, Salesforce is offering S$960,000 in cash grants to selected SMEs to aid their recovery and growth. The grants are being offered to Singapore-registered SMEs with at least 30 percent local shareholding, an annual revenue of S$150,000 to S$2 million, and employment of between 5 and 50 employees. For the complete list of requirements, please visit the official application page. The grants will help support eligible SMEs in addressing their immediate cash flow needs, preserving jobs, and embarking on initiatives to adapt and emerge stronger from this challenging period. Companies will be able to use the grant for rental and other operating costs, employee payroll, skills upgrading, technology adoption, digitalisation and business transformation. With a grant of S$8,000 per company, the programme is expected to benefit 120 SMEs that have been negatively impacted by the COVID-19 pandemic.
SMEs are an integral and important part of Singapore’s economy, accounting for 99 per cent of all Singapore-based companies, 72 per cent of total employment and contributing 45 per cent of our GDP in 2019. The pandemic has hit small businesses especially hard, with the circuit breaker and safe management measures affecting their operational capacities and business demands. This grant will help provide much-needed relief and help to the more badly affected SMEs.
Applications for the grants from SMEs will be reviewed by a panel of judges made up of business leaders from the SBF SME Committee (SMEC). Mr Melvin Tan, Chairman of the Manpower, Talent and Skills Sub-committee and Mr Ernie Koh, Vice-Chairman of SMEC, will be leading the judging panel.
Acknowledging their appreciation to Salesforce for supporting the grants to help SMEs, Mr Koh said, “We would like to extend our thanks to Salesforce for their grant, and for giving the SMEC an opportunity to play a role in this exercise.” Mr Tan also added, “This grant will provide much-appreciated assistance to cash-strapped SMEs affected by the COVID-19 pandemic.”
“SMEs are a crucial part of Singapore’s identity and economy,” said Ms Cecily Ng, Area Vice President and General Manager, Singapore, at Salesforce. “We are proud to partner with SBF on this initiative to empower SMEs to thrive and lead Singapore’s economic recovery and growth.”
Expressing support for the grant, Mr Ho Meng Kit, CEO of SBF, said, “We are encouraged by the kind gesture and generosity of Salesforce to support our local SMEs in this difficult period. COVID-19 has adversely affected most businesses, and SMEs are more vulnerable as they have relatively more limited financial resources. This grant offers SMEs flexibility to address their most pressing challenges. We hope that SMEs can maximise the benefits of this grant to transform their businesses and emerge stronger from COVID-19.”
“We are heartened to see leaders such as Salesforce and the Singapore Business Federation step up to support players in our wider tech ecosystem. Local companies and MNCs have complementary roles, and such partnerships and collaborations lead to growth opportunities for everyone,” said Ang Chin Tah, Vice President, Digital Industry, EDB.
Applications for the grant will open on 23 November 2020 and will close on 23 December 2020. As the grants are limited, assessment of the application will be on a first-come, first-serve basis, and if an applicant does not meet the eligibility criteria, the opportunity for assessment on the eligibility of the grant will be allotted to the next applicant in line. The selection process will be completed by 31 January 2021 with provisionally approved grant recipients to be contacted thereafter. Grants recipients will be publicly announced in February 2021.
Discover how your Singapore Small Business can apply for a one-off S$8,000 grant. Visit the website to see how to apply and to read the complete programme terms here.