Social enterprises play an important role in helping vulnerable groups, especially during a time of crisis like the ongoing Covid-19 pandemic, when they are hit harder than most, said Minister for Social and Family Development Masagos Zulkifli yesterday.

To help social enterprises during this period, 19 of them have received funding support for the next two years from the Government through the Singapore Centre for Social Enterprise's StayUnited Grant, which has helped to save the jobs of 83 vulnerable people, he added.

Mr Masagos, who was speaking at the FestivalForGood2020, said the grant, introduced in March, helps eligible social enterprises sustain their operations and develop products to address social gaps.

"As entities operating in the social-economic nexus, social enterprises are also well placed to develop and scale innovative, long-term solutions to meet the needs and social challenges of our time," said Mr Masagos.

He cited the example of social enterprise Spic & Span, which specialises in cleaning technology.

During the circuit breaker period, the company developed a proprietary anti-bacterial coating to disinfect surfaces for up to six months. It also provided subsidised disinfectant services of up to $250,000 in value, said Mr Masagos.

"By adapting its business, Spic & Span managed to double its revenue in the past few months," the minister added.

He noted it is challenging for social enterprises to achieve their social goals while also remaining competitive and financially viable.

"Social enterprises which manage to succeed and scale, can model the way for the broader society and economy, by showing that we can do good even as we do well," he said.