Singapore’s Budget 2026 has unveiled a series of initiatives aimed at bolstering the international competitiveness of small and medium enterprises (SMEs). Key measures include enhancements to the Market Readiness Assistance (MRA) Grant, an increased cap of $400,000 for the Double Tax Deduction for Internationalisation (DTDi) Scheme, and the introduction of the Champions of AI Programme. These initiatives are designed to support SMEs in expanding overseas and scaling into new markets.
The government is offering grant support of up to 70% for SMEs, alongside enhancements to the Enterprise Financing Scheme, signalling robust backing for companies aiming to grow internationally. Payoneer, a global financial technology platform, is poised to assist Singapore-based businesses with managing international receivables, payables, and treasury operations across multiple markets.
As Singapore enterprises evolve into multi-entity organisations, the complexity of managing financial and operational requirements increases. Budget 2026’s focus on international expansion and AI-powered transformation highlights the need for infrastructure that enables seamless cross-border operations. Payoneer provides an integrated platform that allows businesses to collect in multiple currencies, pay global suppliers, and centralise financial visibility, reducing friction as they expand.
The budget also emphasises Singapore’s ambition to become an AI-powered economy, with initiatives like the National AI Council and expanded access to AI tools. Payoneer is investing in AI-driven capabilities and innovations such as stablecoin-enabled solutions to enhance global capital movement and optimise working capital.
Nagesh Devata, SVP of APAC at Payoneer, stated, “Budget 2026 reinforces Singapore’s ambition to scale globally competitive, innovation-driven businesses. As companies expand across markets, they need financial infrastructure that matches their complexity.”
These measures are expected to accelerate the international ambitions of Singapore SMEs, making efficient financial management a critical component of their growth strategy.
