As part of the Jobs and Business Support Package, the Government has introduced the Small Business Recovery Grant, which provides a one-off cash support to small businesses in sectors that were most affected by the COVID-19 Safe Management Measures in 2021, including the arts and culture sector.
To be eligible for the support:
- Firm must be a ‘live’ entity that is physically present in Singapore and registered no later than 31 December 2021;
- Firm must have an annual operating revenue that is less than S$100 million, filed with IRAS in the Year of Assessment 2021 by 31 December 2021; or employ fewer than 200 employees as of 31 December 2021; and
- Firm must meet the sectoral criteria listed in table below:
|Performing Arts & Arts Education||
|Museums, art galleries and historical sites||
Sole proprietorships and partnerships that are run by at least one business owner but do not hire any local employees will receive a flat payout of S$1,000, if the local business owner is earning a net trade income of no more than S$100,000, filed with IRAS in the Year of Assessment 2021 by 31 December 2021.
IRAS will notify eligible firms starting from June 2022. More information is available on https://go.gov.sg/sbrg.