5 key takeaways for SG marketers from Budget 2026

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Singapore prime minister and finance minister Lawrence Wong presented the 2026 budget at parliament today (12 February). As the first Budget of the government’s new term, it comes amid profound global change.

Wong reflected in his 2026 New Year message that 2025 was a milestone at home with SG60 and a strong growth of 4.8%. It also saw turbulence abroad, from geopolitical tensions to the erosion of long-standing trade rules.

While Singapore’s economy proved resilient last year, the road ahead is expected to be more moderate, with growth projected at 2% to 4% and inflation at 1% to 2%. Wong framed the Budget as an opportunity to rethink, reset, and refresh strategies: strengthening enterprises at home, expanding global reach, harnessing AI at scale, and equipping workers for the future.

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Below, MARKETING-INTERACTIVE highlights some of the key takeaways from the Budget 2026 for marketers:

1. Increased support for companies to go global

Support for companies venturing overseas is being stepped up. SMEs can now receive up to 70% grant support, while non-SMEs get up to 50%.

The Market Readiness Assistance grant will cover deeper expansion in existing markets, and the Double Tax Deduction for Internationalisation cap rises from SG$150,000 to SG$400,000, with more qualifying activities included.

The Enterprise Financing Scheme will also offer higher loan amounts for trade and fixed asset financing, giving firms more flexibility as they scale abroad.

2. Strengthening the enterprise ecosystem

The Startup SG Equity scheme will receive a SG$1 billion top-up to support growth-stage companies, which often struggle to secure long-term funding. The scheme focuses on early-stage funding, providing initial capital for startups in Singapore.

A new workgroup led by Minister Chee Hong Tat will collaborate with industry to position Singapore as a leading hub for growth capital. The move aims to close persistent funding gaps and strengthen the broader startup ecosystem.

3. Introduction of national AI missions

Artificial intelligence is a strategic focus, framed as a national advantage in a resource-constrained, ageing economy. Wong stressed that AI must serve societal and economic interests safely, with clarity and resolve.

New national AI missions will target advanced manufacturing, connectivity, finance and healthcare, with clear objectives and measurable outcomes. A national AI council will coordinate government efforts, while sandboxes and regulatory reviews will allow companies to test AI responsibly.

In addition, the government will launch a "Champions of AI" programme to support firms undertake comprehsensive AI transformation, including systems redesign and workforce retraining. Existing schemes such as the Enterprise Innovation Scheme and Productivity Solutions Grant will be expanded to cover AI-related expenditure and tools in 2027 and 2028, with each year receiving a SG$50,000 cap.

Singapore will also develop a larger AI park in One-North, building on the Lorong AI pilot initiative to cluster innovators, researchers and practitioners.

4. AI support for workers and individuals

Acknowledging concerns over job displacement, Wong said Singaporeans will receive practical AI training. Initial efforts will focus on sectors such as accountancy and legal, before expanding more broadly. He added that AI will automate routine tasks, allowing professionals to move up the value chain.

The SkillsFuture website will also be redesigned to make AI learning pathways clearer and easier to navigate. Singaporeans who enroll in selected courses will receive six months of free access to premium AI tools to apply their skills in real-world settings. This will include tools such as Anthropic's Claude, OpenAI's ChatGPT and Google's Gemini.

5. Job and skills support for Singaporeans

Workforce Singapore (WSG) and SkillsFuture Singapore (SSG) will merge into a single statutory board, jointly overseen by the Ministry of Manpower and Ministry of Education.

The consolidation aims to better align skills development with evolving job needs and provide more seamless, end-to-end career and employment services.

Moreover, the Level-Up Programme will be enhanced, with Mid-career training allowance extended to those who take up part-time training. Coverage will also be expanded to include industry-relevant courses.

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