On Monday (14 Dec 2020), Prime Minister Lee Hsien Loong announced the much-anticipated transition into Phase 3 on 28 December 2020. At the same time, he also outlined Singapore’s vaccine plan – providing free vaccination to all Singaporeans and long-term residents here.
Phase 3 Measures Will Provide a Boost For Businesses
One of the main focus of the Phase 3 announcement was that groups of up to 8 could mingle, an increase from groups of 5. This will provide a boost for F&B and hospitality industries as we head towards New Year’s Day celebrations.
This relaxation of safety management measures will also apply to events such as weddings, religious gatherings, and live performances which will allow up to 250 people – in groups of 50.
Singapore attractions – already opening to business from SingapoRediscovers Vouchers – will also be able to increase capacity to 65% from 50% previously. Similarly, shopping malls can now allow more visitors by allowing a space of 8 sqm per person from 10 sqm per person.
Read Also: Phase 3 Is Here: 5 Things Businesses Need To Know
Connectedness Is Singapore’s Lifeblood
Singapore is an aviation hub, transshipment hub, MICE events destination, tourism magnet and more.
Businesses that rely on being connected to the rest of the world will also be given a shot in the arm as PM Lee spoke about the need to gradually re-open borders. He also acknowledged that this will increase the risk of COVID-19 spread here – which is why free vaccinations will be given to all Singaporeans and long-term residents here.
As part of this plan to re-open, a new Segregated Travel Lane was announced. This will be open to business travellers from all countries from mid-January 2021. A special Connect@Changi 4-star accommodation is also being built to house international business travellers who require meetings with Singapore residents or to use as a trusted meeting venue for business meetings with other regional businesses.
Read Also: All You Need To Know About Short-Stay Facility Connect@Changi For Business Travellers To Singapore
Not Leaving Any Business Behind
We all grew up hearing the phrase “we have no natural resources; people are our only natural resource”
This is why it’s so important that Singapore enables every individual to be able to contribute to its economy. An extensive range of support measures has already been rolled out over the past 9 months across multiple budget announcements and supplementary ministerial statements.
Going forward, relief measures will likely be targeted rather than sweeping. One new measure announced this week was the COVID-19 Recovery Grant (CRG) – which will provide self-employed persons (SEPs) and employees up to $500 and $700 respectively for 3 months if they are still adversely affected due to COVID-19. This is on top of existing grants such individuals can already apply for.
Read Also: COVID-19 Recovery Grant: Self-Employed Persons Can Receive $500 For 3 Months From 18 January 2021
For businesses that require support, some grants are ending on 31 December 2020. One of these is the Productivity Solutions Grant (PSG) for business continuity – allowing businesses to apply for up to 3 laptops with remote working capabilities. If your business needs the support, you can find out more about this grant and others on the Go Business GovAssist website.
Read Also: How To Use The Productivity Solutions Grant (PSG) To Buy Laptops For Your Business
Businesses Need To Stand On Their Own Eventually
While COVID-19 has heavily impacted businesses, they cannot indefinitely rely on government support to sustain. Eventually, good businesses will thrive, new businesses will identify gaps in the market and unsustainable businesses will fade.
To help both employers and employees, the government regularly schedules Jobs Situations Reports every week or so. These typically outline initiatives within specific industries and employment levels.
In the latest Jobs Situations Reports, the healthcare sector and the tech sector came under the spotlight as the sectors offering the most openings under the SGUnited Jobs & Skills Package.
We also covered entrepreneurs who are finding opportunities amid great uncertainties. One new business that was born during COVID-19 was Nasty Cookie. Founded by Regine Sum, their ugly beautiful cookies took advantage of digital marketing and creative branding to win over Singaporeans looking to try delicious desserts.
Read Also: 5 Questions With…Regine Sum, Founder And Creative Director Of Nasty Cookie
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