In April 2025, Singapore took a significant step to further strengthen its economic foundation and support the business community with the launch of the Singapore Economic Resilience Taskforce (SERT). This initiative was developed as part of the country’s ongoing commitment to maintain a robust, competitive, and future-ready business environment. Rather than serving only as a response mechanism, SERT introduces a new, coordinated strategy designed to provide timely assistance to companies while enabling long-term growth and transformation.
Why Was SERT Created?
Singapore’s open and globally connected economy brings vast opportunities for businesses but also requires continual enhancement of resilience and adaptability. By early 2025, it became clear that evolving global trends, changing trade patterns, and shifts in supply chains called for even more agile and business-focused support frameworks.
Recognising these opportunities for proactive development, the government — together with Enterprise Singapore, leading financial institutions, and industry partners — established SERT to provide businesses with enhanced resources and a more responsive support system. The aim is to empower companies to strengthen their operations, innovate, and prepare for sustainable growth in an increasingly dynamic international landscape.
How Does SERT Work? Structure and Mechanisms
SERT brings together top government ministries, Enterprise Singapore, leading financial institutions, and industry associations under a single umbrella. This “whole-of-nation” approach is designed to break down bureaucratic barriers and enable faster, smarter decision-making.
At its core, SERT pursues three main objectives:
What Concrete Support Does SERT Offer Businesses?
One of SERT’s most significant early moves was to revamp the Enterprise Financing Scheme (EFS). Recognising that access to liquidity was the top concern for many SMEs and mid-sized firms, the government temporarily increased its risk-share in new working capital loans, allowing banks to lend more confidently and quickly. As a result, approval times for critical loans dropped from several weeks to as little as seven days for urgent cases. Importantly, SERT also expanded eligibility so that startups and younger companies, previously excluded from some schemes, could now apply.
Take, for example, a mid-sized electronics exporter whose US orders were postponed in early 2025. Previously, such a firm might have faced weeks of uncertainty waiting for loan approval. Under the new SERT regime, the company was able to secure an S$800,000 working capital loan within ten days — funds that kept the business running and staff employed through a difficult period.
But SERT’s impact is not limited to loans. The Taskforce also streamlined the Enterprise Development Grant (EDG), prioritising digitalisation, automation, and supply chain resilience projects. Companies looking to upgrade their technology or pivot into new markets have benefited from faster approvals and higher support levels, with some grant coverage raised to 70% for projects that directly address market shocks. A logistics SME, for instance, received a grant to implement a cloud-based tracking system, allowing it to expand into pharmaceutical logistics after key clients postponed shipments in other sectors.
Targeted Solutions for Different Sectors
What sets SERT apart from previous government programmes is its commitment to sector-specific solutions. Monthly dialogues between policymakers, banks, and industry groups enable the Taskforce to rapidly identify emerging risks and deliver targeted support. When, for example, the semiconductor industry faced a sudden supply crunch, SERT was able to mobilise rapid response teams and recommend policy adjustments within days.
Furthermore, SERT provides regular forward guidance through risk briefings and scenario planning. Businesses are kept informed about possible changes in tariffs, export regulations, and supply chain disruptions, allowing them to hedge risks or diversify suppliers ahead of time. An electronics importer credits these briefings with helping the company protect margins and avoid major losses as global trade winds shifted.
Building Long-Term Resilience
Beyond immediate crisis management, SERT also prioritises sustainability and workforce development. Businesses seeking to green their operations — from manufacturing upgrades to the adoption of energy-efficient logistics — can now access higher grant rates. In one case, a food services SME installed solar panels and energy-saving equipment with 70% grant support, cutting long-term costs and strengthening its market position with eco-conscious clients.
Meanwhile, SERT works closely with Workforce Singapore (WSG) to provide subsidised upskilling and job placement support. This has allowed companies to redeploy or retain staff instead of resorting to layoffs, helping them prepare for the recovery and future growth.
Results So Far: Who Has Benefited?
Since SERT’s launch, more than S$2.3 billion has been disbursed through accelerated loans and grants. Over 60% of recipient companies are SMEs with fewer than 50 employees, and average loan processing times for working capital loans have fallen dramatically. The main beneficiaries have been in manufacturing, logistics, technology, and food services, but companies from a wide range of industries have tapped the scheme.
Perhaps most notably, sustainability-related projects now account for more than 20% of new grant applications — double the rate seen just a year earlier — suggesting that SERT is driving not only survival, but genuine transformation.
SERT’s Strategic Outlook and the Future of Business in Singapore
The launch of the Singapore Economic Resilience Taskforce (SERT) signals not just a temporary fix to current economic shocks, but the start of a new era in how Singapore supports its business community. SERT’s long-term vision goes far beyond short-term survival. Its ambition is to lay the foundation for a more agile, competitive, and globally connected business ecosystem—one that is able to anticipate risks, respond rapidly to disruptions, and seize new opportunities as they emerge.
Strategic Goals and Roadmap
According to statements by Deputy Prime Minister Gan Kim Yong and policy documents released by Enterprise Singapore, SERT’s roadmap is closely tied to the government’s broader “Future Economy” agenda. The Taskforce is expected to remain active at least through 2030, with a focus on the following strategic pillars:
Forecast: What Can Businesses Expect by 2030?
Why Engage with SERT Now?
For business leaders, early and active engagement with SERT is not just a way to access immediate relief, but a strategic investment in future growth. Firms that take advantage of SERT’s resources—whether for working capital, digital upgrades, talent development, or internationalisation—will be better positioned to thrive as Singapore’s economy transitions toward 2030.
SERT’s promise is clear: to move from reactive crisis management to a proactive, forward-looking partnership with the entire business ecosystem. For companies willing to adapt, innovate, and collaborate, the coming years may prove to be not only resilient—but truly transformative.
Why Was SERT Created?
Singapore’s open and globally connected economy brings vast opportunities for businesses but also requires continual enhancement of resilience and adaptability. By early 2025, it became clear that evolving global trends, changing trade patterns, and shifts in supply chains called for even more agile and business-focused support frameworks.
Recognising these opportunities for proactive development, the government — together with Enterprise Singapore, leading financial institutions, and industry partners — established SERT to provide businesses with enhanced resources and a more responsive support system. The aim is to empower companies to strengthen their operations, innovate, and prepare for sustainable growth in an increasingly dynamic international landscape.
How Does SERT Work? Structure and Mechanisms
SERT brings together top government ministries, Enterprise Singapore, leading financial institutions, and industry associations under a single umbrella. This “whole-of-nation” approach is designed to break down bureaucratic barriers and enable faster, smarter decision-making.
At its core, SERT pursues three main objectives:
- Immediate Stabilisation: Providing swift financial support to companies facing order cancellations, delayed payments, or working capital shortages.
- Information and Engagement Hub: Acting as a channel for real-time business feedback, ensuring policies can be quickly adapted to changing realities.
- Long-Term Resilience: Supporting digitalisation, workforce upskilling, and sustainable business transformation for companies across all sectors.
What Concrete Support Does SERT Offer Businesses?
One of SERT’s most significant early moves was to revamp the Enterprise Financing Scheme (EFS). Recognising that access to liquidity was the top concern for many SMEs and mid-sized firms, the government temporarily increased its risk-share in new working capital loans, allowing banks to lend more confidently and quickly. As a result, approval times for critical loans dropped from several weeks to as little as seven days for urgent cases. Importantly, SERT also expanded eligibility so that startups and younger companies, previously excluded from some schemes, could now apply.
Take, for example, a mid-sized electronics exporter whose US orders were postponed in early 2025. Previously, such a firm might have faced weeks of uncertainty waiting for loan approval. Under the new SERT regime, the company was able to secure an S$800,000 working capital loan within ten days — funds that kept the business running and staff employed through a difficult period.
But SERT’s impact is not limited to loans. The Taskforce also streamlined the Enterprise Development Grant (EDG), prioritising digitalisation, automation, and supply chain resilience projects. Companies looking to upgrade their technology or pivot into new markets have benefited from faster approvals and higher support levels, with some grant coverage raised to 70% for projects that directly address market shocks. A logistics SME, for instance, received a grant to implement a cloud-based tracking system, allowing it to expand into pharmaceutical logistics after key clients postponed shipments in other sectors.
Targeted Solutions for Different Sectors
What sets SERT apart from previous government programmes is its commitment to sector-specific solutions. Monthly dialogues between policymakers, banks, and industry groups enable the Taskforce to rapidly identify emerging risks and deliver targeted support. When, for example, the semiconductor industry faced a sudden supply crunch, SERT was able to mobilise rapid response teams and recommend policy adjustments within days.
Furthermore, SERT provides regular forward guidance through risk briefings and scenario planning. Businesses are kept informed about possible changes in tariffs, export regulations, and supply chain disruptions, allowing them to hedge risks or diversify suppliers ahead of time. An electronics importer credits these briefings with helping the company protect margins and avoid major losses as global trade winds shifted.
Building Long-Term Resilience
Beyond immediate crisis management, SERT also prioritises sustainability and workforce development. Businesses seeking to green their operations — from manufacturing upgrades to the adoption of energy-efficient logistics — can now access higher grant rates. In one case, a food services SME installed solar panels and energy-saving equipment with 70% grant support, cutting long-term costs and strengthening its market position with eco-conscious clients.
Meanwhile, SERT works closely with Workforce Singapore (WSG) to provide subsidised upskilling and job placement support. This has allowed companies to redeploy or retain staff instead of resorting to layoffs, helping them prepare for the recovery and future growth.
Results So Far: Who Has Benefited?
Since SERT’s launch, more than S$2.3 billion has been disbursed through accelerated loans and grants. Over 60% of recipient companies are SMEs with fewer than 50 employees, and average loan processing times for working capital loans have fallen dramatically. The main beneficiaries have been in manufacturing, logistics, technology, and food services, but companies from a wide range of industries have tapped the scheme.
Perhaps most notably, sustainability-related projects now account for more than 20% of new grant applications — double the rate seen just a year earlier — suggesting that SERT is driving not only survival, but genuine transformation.
SERT’s Strategic Outlook and the Future of Business in Singapore
The launch of the Singapore Economic Resilience Taskforce (SERT) signals not just a temporary fix to current economic shocks, but the start of a new era in how Singapore supports its business community. SERT’s long-term vision goes far beyond short-term survival. Its ambition is to lay the foundation for a more agile, competitive, and globally connected business ecosystem—one that is able to anticipate risks, respond rapidly to disruptions, and seize new opportunities as they emerge.
Strategic Goals and Roadmap
According to statements by Deputy Prime Minister Gan Kim Yong and policy documents released by Enterprise Singapore, SERT’s roadmap is closely tied to the government’s broader “Future Economy” agenda. The Taskforce is expected to remain active at least through 2030, with a focus on the following strategic pillars:
- Continuous Financial Support for Innovation: SERT will keep working with banks and investors to ensure that companies—especially SMEs and startups—can access affordable credit for digitalisation, automation, and global expansion. The Enterprise Financing Scheme and related grant programmes are set for regular review and expansion, with special focus on new economy sectors such as fintech, advanced manufacturing, green tech, and biomedical.
- Sustainability as a Core Driver: By 2030, at least 30% of SERT-related grants are projected to be allocated to sustainability and green transition projects. This aligns with Singapore’s national sustainability goals and international commitments. Businesses that invest in decarbonisation, circular economy models, or green supply chains are likely to benefit from expanded support.
- Skills and Workforce Transformation: SERT will intensify its collaboration with Workforce Singapore (WSG) and education partners to promote reskilling and upskilling. The goal: by 2030, to ensure that over 80% of supported firms have accessed workforce transformation initiatives, reducing structural unemployment and enabling companies to adapt to automation and AI.
- Data-Driven, Rapid Policy Response: The “real-time” feedback loops pioneered by SERT are expected to become a permanent feature of Singapore’s policy landscape. This means ongoing monthly dialogues with industry, rapid scenario analysis, and policy tweaks within weeks—not years—in response to market shocks.
- Fostering Ecosystem Collaboration: By 2030, SERT aims to have facilitated at least 1,000 partnerships between large enterprises and SMEs—spurring local supply chain development, joint innovation projects, and shared digital platforms.
Forecast: What Can Businesses Expect by 2030?
- Resilience as a Competitive Edge: Singaporean companies will operate in an environment where government, banks, and industry partners are tightly integrated—reducing uncertainty and enabling faster pivots during crises.
- Easier Access to Funding and Support: Application and approval processes for loans and grants will become even more streamlined and data-driven, reducing friction for both new and established firms.
- Priority for “Future-Ready” Firms: Companies that embrace digitalisation, sustainability, and workforce development will be first in line for SERT-backed funding, advisory, and partnership programmes.
- Global Positioning: By leveraging SERT, Singapore aims to consolidate its status as the region’s leading business hub—not only for MNCs, but also for high-growth startups, export-driven SMEs, and innovators in green tech.
Why Engage with SERT Now?
For business leaders, early and active engagement with SERT is not just a way to access immediate relief, but a strategic investment in future growth. Firms that take advantage of SERT’s resources—whether for working capital, digital upgrades, talent development, or internationalisation—will be better positioned to thrive as Singapore’s economy transitions toward 2030.
SERT’s promise is clear: to move from reactive crisis management to a proactive, forward-looking partnership with the entire business ecosystem. For companies willing to adapt, innovate, and collaborate, the coming years may prove to be not only resilient—but truly transformative.
NB! The information provided in this article is for general informational purposes only and does not constitute legal advice. While we strive to ensure the content is accurate and up-to-date, it should not be relied upon as a substitute for professional consultation. For personalized advice or assistance with legal matters, please contact our specialists directly.
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Company Incorporation & Business Setup – We assist businesses with company registration, structuring, and licensing in Singapore, ensuring full compliance with ACRA and MAS regulations.
Corporate Tax & Compliance Advisory – We help businesses leverage corporate income tax rebates, deductions, and incentive schemes, ensuring tax efficiency and compliance
Regulatory & Licensing Assistance – We guide businesses through the process of obtaining sector-specific licenses and ensuring compliance with MAS, IRAS, and other regulatory bodies, minimizing operational risks.
Enterprise Financing & Grant Support – We help businesses access Enterprise Financing Scheme (EFS), Private Credit Growth Fund, and SkillsFuture grants, aligning funding opportunities with business growth strategies.