FairPrice Group commits $2.9m to help SMEs in cash flow and business survival

The funding programme benefits more than 500 SME suppliers in Singapore.

FairPrice Group declared that it can provide S$2.9m to fund the SME Suppliers Support and Development Programme (SSDP) in 2023, which will help SME suppliers defray rising business costs and subsidised sales reporting.

SSDP was first introduced in 2012 to help Singapore’s SME suppliers cope with increasing business costs and provide a platform to share and gain insights from peers and industry experts.

Since then, FairPrice Group has committed over S$18m to the initiative, which benefitted more than 500 SME suppliers in Singapore.

SMEs participating in the SSDP will gain insights from support measures including “modified payment terms to ease cash flow, essential for small business survival, marketing support to promote their products, subsidised sales reporting and analytics services, and exclusive networking opportunities specially organised by FairPrice Group to bring like-minded suppliers together.”