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Built around you | Singapore Budget 2023 Edition

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Singapore Budget 2023 Commentary

In our latest Budget commentary, we highlight how you and your business can tap on this year’s measures to build capabilities and seize opportunities to enhance your business competitiveness.

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Budget 2023 highlights

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Budget 2023 quick bites: Growth for SMEs

Small Medium Enterprises (SMEs) may undoubtedly feel the heat from rising costs and inflation, but they can find some relief in this year’s Budget measures. Kexin Lim, our Partner specialising in Tax and SMEs, highlights what these measures are and how SMEs stand to benefit from them.

Nurturing local enterprises and tackling rising costs

Given the increasing pressure of the global inflation, SMEs are experiencing additional challenges. The extension of the Enterprise Financing Scheme and newly introduced SME Co-Investment Fund have been put in place to help businesses tide through the rising costs.

Transformation, upskilling and reskilling of the workforce

In aligning with the Forward Singapore exercise to equip and empower our people and to maintain Singapore’s competitiveness, our workers and businesses can tap on the Job-Skills Integrators and additional funding in the National Productivity Fund to seize new opportunities and create better paying jobs.

Other insights

Why private businesses are uniquely placed to lead the way to a sustainable future

Private businesses are a unique type of organisation, set apart by their long-term focus and deeply-held values. Another differentiating factor is their position in the vanguard of the environmental, social and governance (ESG) agenda. It’s a leadership role that will become increasingly evident in the coming years.

What leaders get wrong about responsibility

To bring better results, leaders should encourage shared responsibility in solving problems - creating a culture in which everyone feels responsible for the company’s success. By taking turns to ask and answer questions, leaders and employees improve their synergies.

Upcoming webinars

Powering private client webinar: Why and how private businesses should prioritise ESG in 2023

Private business owners are working hard to keep their businesses afloat in challenging times. With competing priorities, owners may see ESG as a nice to do. However by not focusing on ESG as a priority, there’s a risk of being left behind.

Hear our panel of ESG experts and private business partners discuss the risks and opportunities that ESG presents for private companies and offer practical guidance on how to integrate it into your business.

Date: Thursday, 9 February 2023
Time: 12:00am SGT
Format: Webinar 

Register

NextGen Academy 2023

PwC's Global NextGen Academy is an annual programme targeted exclusively for next-generation members, with the aim to unlock their leadership potential. Partnering with renowned business schools around the world, the week-long training programmes are designed for the next generation leaders in family business with the opportunity to explore their personal strengths and entrepreneurial skills as well as to bond with their peers from around the world. Please reach out to our PwC Singapore NextGen contacts to obtain the academy brochure and an application form.

Leader Academy 

Learn how to lead!

Join us if you are a leader, shareholder, beneficiary or board member of your family enterprise, and aged between 26 and 39. In this exclusive training event, co-develop an individualised five-step action plan to power your leadership and business forward. 

Dates: 7 - 11 August 2023
Location: Columbia Business School, New York 

Accelerator Academy

Learn your business! 

Join us if you are an entrepreneur or successor in a family business, and aged between 19 and 26. Develop your knowledge, talents and strengths while also learning from legacy family business leaders, unicorn founders, impact investors and other NextGens from around the world. 

Dates: 28 August - 1 September 2023 
Location: INSEAD Business School, Singapore 

Contact us

David Toh

David Toh

Entrepreneurial and Private Business Leader, PwC Singapore

Tel: +65 9186 3006

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