S$10,000 SkillsFuture Enterprise Credit (SFEC) Grant
SkillsFuture Enterprise Credit
What is the SkillsFuture Enterprise Credit (SFEC)?
To encourage enterprises to develop the skills of employees, the government announce a few measures in Budget 2020. One of them is the Skillsfuture for Enterprises (SFE) programme, also known as SFE grant to the business community.
The new SkillsFuture Enterprise Credit or SFEC grant is to help enterprises defray 90% of out-of-pocket costs for supportable Enterprise Transformation and Workforce Transformation programmes.
At $10,000 per enterprise, the SkillsFuture Enterprise Credit scheme will benefit over 35,000 enterprises, mostly small and medium-sized enterprises (SMEs).
To encourage employers to train and upskill their workers, $3,000 of the credit will be ring-fenced for Workforce Transformation. The remaining $7,000 can be used for both Workforce Transformation and Enterprise Transformation.
The supportable programmes will be updated from time to time.
To find out more about SFEC, visit www.skillsfuture.sg/sfec.
Frequently Asked Questions (FAQs)
Q: Who is eligible to apply for SFEC?
Q: When are the qualifying periods?
There will be four qualifying periods:
Employers which qualify will be informed in writing. There will be no qualification of employers after the last period.
Q: How long is the Skillsfuture for Enterprises (SFE) programme?
SFEC grant can be used for supportable Enterprise or Workforce Transformation programmes, wherein applications are submitted on or after 1 April 2020 and claims for the programmes are submitted by 30 June 2023. Eligible employers will receive more details on how the SFEC grant will be reimbursed to them.
SFEC grant will be reimbursed to employers from 1 April 2021.
For more information, employers can contact Ascendo Academy at email@example.com.