The food services and retail sectors are 2 of the worst hit by the COVID 19 pandemic. To further assist affected businesses to adapt to the new normal, they can consider tapping on the digital resilience bonus.

The digital resilience bonus will be paid out on top of the enhanced digitalization assistance provided under the SMEs Go Digital program. In order to be eligible for the bonus, the business must be incorporated on or before 26 May 2020 and have adopted pre-defined categories of digital solutions by 30 June 2021.

 

Eligible businesses can receive payouts of up to SGD$10,000. They must fulfill the following criteria:

  • Adopt PayNow Corporate and InvoiceNow; and
  • Adopt digital solutions in the required categories

 

There are more than 100 digital solutions available and pre-approved under the SMEs Go Digital program. These solutions can be categorized into the following:

F&B

  • Category 1 – Accounting, HR/Payroll, and Digital Ordering (Dine-in/Takeaway)
  • Category 2 – Online food delivery (via food delivery platforms or own online shopfront) or e-procurement
  • Category 3 – Datamining and analytics

Retail

  • Category 1 – Accounting, HR/Payroll, and Inventory Management
  • Category 2 – E-commerce
  • Data mining and analytics

The payout for category 1 and 2 is $2,500 per enterprise per category, while the payout for category 3 is $5,000 per enterprise. Enterprises that fulfill all categories will receive $10,000.

 

Businesses who adopt these solutions will be able to benefit by operating more efficiently, scale their business online, and also have data analytics to better target customers.

 

Enterprises that adopt the pre-defined solutions will receive their first DRBpayouts in August 2020, while those that adopt later will receive their Bonus payouts in the later months.