Support for Sport Businesses
SportSG plays an integral role in nurturing resilience and inspiring individuals, and the larger society to live better through sport. With the current COVID-19 situation, strict measures have been adopted to keep Singaporeans safe. These measures have impacted both individuals and businesses in the sport industry.
Our sport industry will need to transform to continue to inspire and engage Singaporeans to live an active and healthy lifestyle. Many individuals and businesses in Singapore will continue to face challenges and the government has introduced a suite of support measures to help both individuals and businesses tide through these difficult times.
On 28 May 2021, Sport Singapore updated the Sport Resilience Package for businesses and SEPs.
Sports Resilience Package
Working together with MCCY, Sport Singapore has implemented support measures which complement the Government’s initiatives (through the Unity, Resilience, Solidarity and Fortitude Budgets) to help both individuals and businesses transform and emerge stronger from Covid-19. In October, we announced the roll-out of the $50 million Sports Resilience Package (SRP), which includes $25 million for existing measures, as well as an additional $25 million for new and enhanced measures. The new measures under the SRP aim to support critical players in our sports ecosystem, to preserve core capabilities in athlete pathway and pipeline development, as well as to catalyse industry to provide innovative sports formats for Singaporeans to continue to stay active during these times. It includes:
- Operating Grant: The Operating Grant will help businesses critical in contributing to the sports ecosystem (such as sport academies and clubs, facilities and league operators) to offset operating costs.
- Capability Development Initiatives: These initiatives will go into developing capabilities through innovative offerings in sport events and sport programs, enhancing digital content development as well as offering training allowances for Coaches registered under the National Registry of Coaches (NROC) scheme.
In the Committee of Supply 2021, it was announced that MCCY will be injecting another $25 million to enhance the Sports Resilience Package, further boosting support to the sports industry. The additional funds will go towards a Self-Employed Person Project Grant, as well as the expansion of an existing Enterprise Innovation and Capability Development Grant. This brings the total amount for support measures rolled out under the SRP to $75 million.
Most recently following the Multi-Ministry Taskforce’s announcement of the stricter safe management measures from 8 – 30 May, SportSG announced that it has set aside support of up to S$18 million under the Sports Resilience Package for eligible businesses and Self-Employed Persons (SEPs) impacted by the latest guidelines. The new measures are intended to help defray operating costs for the affected businesses and support the affected SEPs during this period, preserve core capabilities, as well as catalyse the industry to encourage Singaporeans to continue to stay active.
Useful Resources and Links for Industry Partners
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