SkillsFuture Enterprise Credit (SFEC)

Overview
 

The SkillsFuture Enterprise Credit (SFEC) encourages employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.

What does the SFEC support?
 

Enterprise Transformation
Programmes that support enterprise transformation

Workforce Transformation
Job redesign initiatives, and curated training programmes by SkillsFuture Singapore and Workforce Singapore, such as training courses aligned to the Skills Framework, Professional Conversion Programmes and sector-specific programmes

The list of SFEC-supportable programmes can be found below:

Programmes Agency
Enterprise Transformation Programmes
  1. Enterprise Development Grant (EDG)
  2. Enterprise Leadership for Transformation Programme (ELT)
  3. Market Readiness Assistance (MRA) Grant
 Enterprise Singapore
  1. Productivity Solutions Grant (PSG)
 Administered by Enterprise Singapore, Singapore Tourism Board, Building and Construction Authority, National Environment Agency, Infocomm Media Development Authority, Monetary Authority of Singapore
  1. Business Improvement Fund (BIF)
 Singapore Tourism Board
  1. Aviation Development Fund (ADF)
 Civil Aviation Authority of Singapore
Workforce Transformation Programmes
  1. Skills Framework-aligned courses
    [in support of the Industry Transformation Maps]
SkillsFuture Singapore
  1. Professional Conversion Programme
    [course fee expenses only]
  2. Rank-and-File Place-and-Train Programmes
    [course fee expenses only]
  3. Support for Job Redesign consultancy under Productivity Solutions Grant (PSG-JR)
  4. Job Redesign initiatives
    [e.g. i4.0 Human Capital Initiative for Manufacturing Sector, Service Industry Transformation Programme for the Services Sector]
 Workforce Singapore
  1. Training Industry Professionals in Tourism (TIP-iT)
 Singapore Tourism Board

To encourage employers to train and upskill their workers, S$3,000 of the credit should be used for workforce transformation programmes and employers can only use up to S$7,000 for enterprise transformation. There is no cap on the amount that can be used for workforce transformation.

Note:
Employers will have to meet the eligibility criteria of the individual SFEC-supportable programmes before they can draw down the credit.

SFEC can be used for the following:
  1. Training courses that commenced from 1 April 2020 and;
  2. Schemes that are applied on or after 1 April 2020.
Final claims for SFEC-supportable programmes must be submitted by 30 June 2023. Credit will be reimbursed to employers from 1 April 2021.

Eligibility
 

Qualifying Periods

  • 1 April 2019 – 31 March 2020
  • 1 July 2019 – 30 June 2020
  • 1 October 2019 – 30 September 2020
  • 1 January 2020 – 31 December 2020

In each of the qualifying periods, eligible employers who meet the following conditions will be notified in writing:

  • Have contributed at least S$750 Skills Development Levy over the period
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
  • Have not been qualified at any of the earlier periods
FAQ
 

Click here for frequently asked questions on SFEC.