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Alongside the grant, the government will introduce temporary enhanced funding support for basic HR certification, to help companies better support their workforce.
To help businesses and workers navigate global economic uncertainty, the Singapore Economic Resilience Taskforce (SERT) has announced a set of targeted measures including a new Business Adaptation Grant, expanded career guidance services, and funding support for HR certification.
These were shared at a press conference on 10 July 2025, where SERT gave an update on the progress of its work since launching in April.
Preparing for prolonged trade uncertainty
Gan Kim Yong, Deputy Prime Minister and Minister for Trade and Industry, who chairs SERT, said the latest round of tariffs announced by the United States is expected to prolong global uncertainty and weaken economic growth.
He emphasised the importance of working with tripartite partners to support businesses and workers, strengthen Singapore’s resilience, and secure long-term economic interests.
Insights from over 3,000 stakeholders
Josephine Teo, Minister for Digital Development and Information highlighted that SERT had engaged more than 3,000 business leaders, workers, union leaders, fresh graduates and career coaches since April.
These sessions provided insights into how global trade tensions are affecting different businesses and workers while also serving to share updates on the tariff situation and available government resources.
Business Adaptation Grant to launch by October 2025
Dr Tan See Leng, Minister for Manpower and Minister-in-charge of Energy and Science & Technology announced the upcoming Business Adaptation Grant, which will be launched by October 2025 for a time-bound period of two years.
This grant will support eligible enterprises that export to, or operate in, overseas markets impacted by tariff measures. It will cover:
- Free Trade Agreements and trade compliance advisory, legal and contractual advisory, and supply chain optimisation or market diversification.
- Reconfiguration costs for enterprises with manufacturing operations overseas or locally, such as logistics and inventory holding costs.
The Business Adaptation Grant will complement existing schemes, including the Market Readiness Assistance Grant, Enterprise Development Grant, and Enterprise Financing Scheme.
These current schemes will continue to help businesses enter new markets, transform their operations and innovation activities as well as access financing to support growth.
Support for workers and HR professionals
Alongside business support, the government and NTUC’s Employment and Employability Institute (e2i) will expand access to career guidance services for workers and jobseekers, under the broader Career Health SG movement.
To help companies better support their workforce, the government will also introduce temporary enhanced funding support for basic HR certification. This aims to build up HR capabilities during this period of economic volatility.
Fresh graduates reassured on job outlook
On employment concerns among young jobseekers, Dr Tan shared that the employment rate for the 2025 graduating cohort in June was comparable to the 2024 cohort. He noted that entry-level vacancies remain steady, with job opportunities still available.
The Public Service, he shared, currently has about 2,400 immediate vacancies, which will be featured at a Public Service career fair in August, as well as on the Careers@Gov job portal and across social media channels.
Tripartite partners echo the importance of joint effort
Leaders from the Singapore Business Federation (SBF), National Trades Union Congress (NTUC), and Singapore National Employers Federation (SNEF) also spoke at the press conference. They shared feedback from businesses, workers and fresh graduates, and affirmed their support for the government’s approach of developing and delivering these measures through tripartite collaboration.
DPM Gan closed the session by saying the government will continue monitoring developments closely and maintain regular engagement with stakeholders. He assured that Singapore will remain well-positioned to manage emerging risks and seize new opportunities, and that support will be available if the economic situation worsens unexpectedly.
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