SBF Launches Guide To Help Firms Navigate Trade Barriers

It is also drafting measures to aid firms in finding financing, diversifying supply chain

- Krist Boo

An e-book guide to help businesses find out how they would be affected by tariffs has been compiled by the Singapore Business Federation (SBF), which is also drafting measures to help firms find financing and diversify their supply chain.

Speaking to The Straits Times ahead of the launch of the playbook on May 22, SBF chief executive Kok Ping Soon outlined the apex business association's plans, including its intention to provide longer-term advice to firms on tariff matters.

He said: "Companies are saying that they are concerned about reduced credit limits, increased collaterals, stricter governance. And it is now that they need longer and larger financing."

The funds are not only to deal with the front-loading of purchases by buyers that are stockpiling goods before any end to tariff reprieves, but also to tide businesses over smaller orders and higher administrative costs for trade compliance.

SBF - the business community's representative on the Singapore Economic Resilience Taskforce to counter rising trade barriers - has asked to be updated on failed applications for the government-backed Enterprise Financing Scheme.

Firms, especially small and medium-sized enterprises, apply for these loans through financial institutions and are subject to conditions such as shareholding, creditworthiness and solvency status.

Mr Kok said: "We may want to make representation on behalf of the businesses to the Government to consider. Perhaps the risk-sharing can change, perhaps the quantum can change, or perhaps the tenure can change."