ATC Welcomes Budget 2025 that Addresses and Supports Current Business Cost Challenges
SINGAPORE, 18 February 2025 - The Association of Trade and Commerce (ATC) welcomes Budget 2025, which reflects a
forward-thinking approach co-created by the government and the business community to address
current business cost challenges while driving resilience and competitiveness.
The 50% corporate income tax rebate and S$2,000 cash grant provide immediate short-term relief
for businesses managing rising costs. Beyond these immediate measures, the newly announced
S$150 million Enterprise Compute Initiative will help businesses embrace digitalisation and
explore artificial intelligence (AI) adoption in their operations.
ATC strongly welcomes the enhanced SkillsFuture Enterprise Credit (SFEC) and SkillsFuture
Workforce Development Grant. The increased and new support will empower local enterprises to
enhance workforce capabilities through skills development and job redesign, enabling businesses
and their employees to adapt to evolving industry needs.
The extension of the Market Readiness Assistance (MRA) Grant and additional support for
internationalisation, mergers, and acquisitions are also greatly welcomed. These measures will
help local enterprises expand globally and seize new market opportunities.
Budget 2025 reflects the government’s commitment to fostering long-term economic growth by
equipping enterprises with the necessary support and resources. ATC remains dedicated to
working closely with the government and industry stakeholders to help businesses maximise
opportunities for a resilient and globally competitive business environment in Singapore.
About the Association of Trade and Commerce (ATC)
The Association of Trade and Commerce (ATC) is a business association dedicated to advocating and representing the interests of Singapore’s enterprises across diverse industries and trade sectors.
As an enterprise-centric and community-based organisation, ATC actively advocates for the growth and development of businesses, focusing on key pillars such as capability building, transformation, globalisation, and community engagement. ATC is committed to fostering a pro-enterprise trade environment in Singapore. We engage closely with the business community, as well as private and public sector partners, to design and implement relevant programmes that supports enterprises to innovate, transform, and expand internationally.
As a trusted advocate, strategic partner, and dynamic network, ATC plays a pivotal role in enabling enterprises to thrive in an evolving economic landscape.
For more information on this media release, please contact ATC's corporate communications divison at comms@atc.sg