Singapore's enhanced support amid tighter restrictions a lifeline for startups

Singapore's enhanced support amid tighter restrictions a lifeline for startups

Singapore’s startups will have significantly better odds of staying afloat with the government shouldering 75 per cent of their local employees’ wage costs over the next month, venture investors said on Monday.

The boost in support for businesses was announced by Singapore Deputy Prime Minister and Minister of Finance Heng Swee Keat as the country prepares for its most stringent social distancing restrictions so far to try to curb the spread of the COVID-19 pandemic. Beginning for a month on Tuesday, non-essential workplaces will be shuttered while dining-in will be prohibited at food establishments in Singapore.

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