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.

You can refer to a simple guide here to check on your SFEC eligibility via the Business Grant Portal.

What does the SFEC support?
 

Enterprise Transformation
Schemes by various agencies hosted on the Business Grant Portal (BGP)

Workforce Transformation
Training courses aligned to the various Industry Skills Frameworks by SkillsFuture Singapore (SSG), Job redesign initiatives, Career Conversion Programmes and more by Workforce Singapore (WSG)

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, National Parks Board, Singapore Food Agency, Early Childhood Development Agency
  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. Career Conversion Programmes
    [Course fee expenses only. Comprises the Professional Conversion Programmes (PCP) and Rank and File (RnF) Programmes]
  2. Support for Job Redesign consultancy under Productivity Solutions Grant (PSG-JR)
  3. Job Redesign initiatives
    [e.g. i4.0 Human Capital Initiative for Manufacturing Sector, Service Industry Transformation Programme for the Services Sector]
  4. Design Thinking Business Transformation Programme
  5. Employment Support for Persons with Disabilities (PwDs) – Job Redesign Grant for Employers
Workforce Singapore
  1. Career Conversion Programmes [Course fee expenses only. Comprises the Professional Conversion Programmes (PCP) and Rank and File (RnF) Programmes]
 Employment and Employability Institute
  1. Training Industry Professionals in Tourism (TIP-iT)
 Singapore Tourism Board

To encourage employers to embark on both enterprise and workforce transformation programmes in tandem, S$3,000 of the credit can be used for workforce transformation programmes only. Hence, employers can only use up to S$7,000 of the credit for enterprise transformation. There is no cap on the amount that can be used for workforce transformation.

Note:
  1. There is no need to apply for SFEC. Your credit will be automatically used on supportable programmes that you have applied for.
  2. Employers will have to meet the eligibility criteria of the individual SFEC-supportable programmes before they can draw down the credit.
  3. Employers newly qualified in 20211 may use their SFEC for supportable programmes applied from 1 April 2022. Employers who were previously qualified2 can continue to use their SFEC for supportable programmes submitted on or after 1 April 2020.

    1 Qualifying period: 1 Jan 2021 – 31 Dec 2021
    2 Previous qualifying periods were:
         a. 1 April 2019 – 31 March 2020
         b. 1 July 2019 – 30 June 2020
         c. 1 October 2019 – 30 September 2020
         d. 1 January 2020 – 31 December 2020
  4. Final claims for SFEC-supportable programmes must be submitted to the respective agencies by 30 June 2024.
Eligibility
 

Eligible employers have been qualified for SFEC over 5 qualifying periods.

Please refer to the table below for the qualifying periods and the respective eligibility criteria.

Qualifying Periods Eligibility Criteria
SFEC (Budget 2020) 1 April 2019 – 31 March 2020

1 July 2019 – 30 June 2020

1 October 2019 – 30 September 2020

1 January 2020 – 31 December 2020		 Employers must meet the following conditions over any of the qualifying periods:
  • Have contributed at least S$750 Skills Development Levy (SDL) over a qualifying period; and
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same qualifying period; and
  • Have not been qualified at any of the earlier periods

All employers have already been qualified and notified.
SFEC Expansion (Budget 2022) 1 January 2021 – 31 December 2021 Employers must meet the following conditions over the qualifying period:
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the qualifying period; and
  • Have not been previously qualified for SFEC; and
  • Are not in default of their SDL contributions during the qualifying period and do not have an inactive ACRA status during qualification.

Newly qualified employers will be notified in April 2022.
FAQ
 
  1. How can eligible employers who would like to utilise the SFEC, find out which type of SFEC-supportable programme is suitable for them?
  • The list of SFEC-supportable programmes may be found in the tab above, under "What does the SFEC support?"
  • Employers may refer to the respective programme details listed on the respective agencies' website and contact them for further assistance.
  • Alternatively, employers who want to find out more on the SFEC-supportable programmes that are suitable for their business needs may wish to explore their profile on the GoBusiness e-advisor or make an appointment with a Business Advisor from the SME Centres. For more information on SME Centres, employers may refer to Enterprise Singapore’s website.
  1. How should employers make a claim for SFEC?
  • Employers are required to submit the final claims to the respective agencies for the supportable programmes that they have successfully applied for or training courses that they have completed, by 30 June 2024. Employers may follow the claim processes and requirements indicated by the respective agencies for the supportable programmes.
  • For SFEC-eligible course employers may be required to submit the SFEC claims on the SkillsFuture Singapore’s SFEC microsite. For further instructions on the submission of SFEC claims, please refer to user guide published on the SkillsFuture Singapore’s SFEC microsite.
  • Upon approval of the claims for these supportable programmes, the corresponding credit will be calculated and be disbursed via employers’ GIRO account registered with IRAS, or PayNow Corporate on a quarterly basis. There is no need to make a separate claim submission for SFEC.
  1. When can employers receive the SFEC disbursement?
  • The SFEC will be disbursed directly to eligible employers on a quarterly basis. Employers will receive an email notification to CorpPass Administrators upon successful disbursement of the credit.
  • SFEC disbursements are made separately from disbursements by base SFEC supportable programmes.
  • SFEC claims are disbursed to employers’ bank account from IRAS, with either the prefix "SFEC" (PayNow), or "SkillsFuture Enterprise Credit" (GIRO), after final claims of the base supportable programmes have been approved.

Click here for a complete list of frequently asked questions on SFEC.