Newsletter
September 2021 Issue: Co-operator Newsletter Quarterly Issue
Extra Help Gives Co-Op A Needed Lift
"It wasn't so much the amount but what the amount meant ... that someone cared enough about our struggles to give us a cash grant. This, I think, exemplifies the co-operative spirit — that we are not alone in this, and it gives us some courage and fighting spirit to carry on."
- Mr Vincent Ng, General Manager, A Good Space
Over the past one-and-a-half years, many organisations and businesses have been upended by the pandemic. Co-ops (or as we call them regulated social enterprises) too have faced several challenges in this regard. At SNCF, we have proffered our affiliates a pool of resources to help them tackle these challenges to help them better provide the services to the community.
As shown on The Straits Times, A Good Space Co-operative Limited is one of the co-operatives in Singapore who has benefited from $2,000 CCF Support Package, a one-off grant given to co-operatives registered under the Registry of Co-operative Societies to support them during COVID-19.
On what the one-off grant means for the new co-operative, Mr Vincent Ng said: "It wasn't so much the amount but what the amount meant ... that someone cared enough about our struggles to give us a cash grant. This, I think, exemplifies the co-operative spirit — that we are not alone in this, and it gives us some courage and fighting spirit to carry on."
Mr Ng said that money from the grant was used to pay for small business expenses, such as IT fees for web hosting. This comes timely considering how many businesses are pivoting towards going digital in the post-pandemic landscape.
Just last July, SNCF has announced an extension (for the year of 2021) of the waiver of the initial Central Cooperative Funds (CCF) contributions amounting to 5% of co-ops' first $500,000 surplus funds.
Read the full story here.
Special credits to The Straits Times and journalist Jolene Ang.
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