SRA Media Statement on Budget 2023

February 14, 2023

MEDIA STATEMENT (For Immediate Publication)




Tuesday 14 February 2023 [Singapore] – Singapore Retailers Association (SRA) is supportive of what we believe is a ‘Caring For Our People, Workers & Businesses Budget 2023’. The targeted approach to allocate budgets where it is needed most is strategic and will certainly help retail businesses combat the rising inflation, business costs, and manpower challenges, and enable them, especially promising SMEs, to innovate and go global and make a greater impact.


We welcome the Enterprise Innovation Scheme. SRA look forward to even greater collaboration with our IHLs, especially in the areas of training to upskill, reskill, and build a pipeline of retail workers. SRA hope to inspire our retail members to embrace not just new technologies but to build better systems and processes to be relevant and responsive in today’s retail landscape so as to be more competitive, and it is imperative that companies are given a guiding hand (by SRA) to help promote a business environment that will encourage and cultivate an innovative spirit.


As Programme Partner for the Career Conversion Programme for the Retail Industry (CCP-RI), SRA look forward to doing our part in the new Job Skills Integrator scheme to ensure that relevant training will translate into positive outcomes by way of job fit & job placements for retail businesses and promote the attractiveness of a career in retail in the longer term. We believe it is a step in the right direction to help retailers mitigate and even overcome the very tight labor crunch they currently face.


While we appreciate and are confident that these new schemes to train and place our locals will help mitigate the manpower crunch in the longer term, SRA hope that ‘immediate help’ could be extended to help retailers overcome the pressing issue of manpower shortage. SRA seek the government to favorably consider short-term innovative schemes in the following areas:


  1. provide a temporary increase for 1-2 years in the Foreign Workers quota while our locals are being adequately trained for the jobs for promising SMEs who are committed to innovate and internationalise.


  1. extend the Progressive Wage Credit Scheme at 70% support for another year to help retail businesses attract retail workers to deliver great frontline service to welcome returning tourists, especially from China.


  1. involve sector industry stakeholders like TACs and retail veterans more actively in the curation and development of training programmes for the retail sector for frontline workers and even leaders.





For media enquiries, please contact:


Ms Rose Tong                                                              Mr Anwar Roslan

Executive Director (SRA)                                              Manager (SRA)

HP: +65 93687878                                                      HP: +65 9169 9254

Email:                                                Email:


About Singapore Retailers Association (SRA)

Founded in 1977, Singapore Retailers Association (SRA) is today a key representative body for the retail industry which champion Business Development & Innovation, Internationalisation and Retail Talent Development. A not-for-profit non-governmental organisation, SRA is governed by a Council whose members hail from some of Singapore’s most reputed and progressive retail companies. SRA organise a wide range of year-round programmes ranging from industry events and conferences, market insights sharing sessions, training and masterclasses, local learning journeys and overseas study missions as well as professional guidance and mentorship for retailers’ brand growth and business development. The composition of its membership of about 500 reflects the diversity and vibrance of Singapore’s retail industry – Fashion Apparel/& Accessories, Furniture and Furnishings, Electrical & Electronics, Watch & Accessories, Beauty & Wellness, Telecommunications, Specialty and Food Retail, Department Stores and Supermarket/Convenience Stores.

SRA is committed to further its cause and advance the initiatives under the Retail ITM 2025 and the SRA Roadmap 2025 for the Retail Industry working in close partnership with retail stakeholders, government agencies and trade associations to foster innovation, promote globalisation and drive business growth.