Standing in solidarity with local SMEs, NTUC FairPrice has extended its SME Suppliers Support and Development Programme (SSDP) for another year. It also doubled this year's commitment to $2 million.
FairPrice made the announcement on 1 October 2020, during the launch of its ninth ‘Made in Singapore’ Fair initiative.
The fair was aimed at raising awareness for local producers and locally produced items. The event was hosted by FairPrice Group CEO Seah Kian Peng. Second Minister for Trade and Industry Tan See Leng graced the event as guest of honour.
“FairPrice understands the challenges faced by SMEs amidst an increasingly competitive environment, exacerbated by the COVID-19 pandemic.
“We are doubling our efforts to help our SME partners through the SSDP programme to further enhance their business capabilities and ease some of the challenges they face such as cash flow pressures,” said Mr Seah.
FairPrice first introduced the SSDP in 2009, helping its SME partners with restructuring as well as getting through the financial crisis.
In 2012, the SSDP was reintroduced during the economic slowdown and has since been made into an annual programme.
Participants of the SSDP enjoy benefits designed to enhance their business capabilities and growth.
These include accelerated payment terms, discounts for processing and listing fees for new products, and special consideration to be included in the FairPrice house brand programme.
This year, FairPrice will enhance the SSDP by increasing the discount on listing fees for new products, providing additional marketing and promotional support, and expanding the eligibility criteria to allow more SMEs to join the programme.
