SkillsFuture Enterprise Credit (SFEC)

What is SFEC?

 

The SkillsFuture Enterprise Credit (SFEC) provides funding support to encourage employers to further develop their capabilities and to boost their employees' skill set. Eligible employers will receive a one-off S$10,000 credit per firm to cover up to 90% of Out-Of-Pocket (OOP) expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes. 

How to optimise the SFEC?

 

The one-off S$10,000 credit can be used for the following 2 categories 

 

   a.​   Enterprise Transformation 
        • Productivity Solution Grants (PSG)
        • Enterprise Development Grant (EDG)
        • Market Readiness Assistance (MRA) 

         
       
Only a maximum of S$7,000 of the SFEC can be used under this category. For company that has successfully received
        the partial funding for the above programme can further claim up to 90% of the unfunded portion.
 

 

        Example
        Enterprise A received approval for PSG Grant application to implement Xero Cloud Accounting system. After getting the
        80% funding for PSG, Enterprise A can further claim up to 90% of the balance through SFEC. 
         

                   Package Price for Xero           S$ 5,000
                   Less 80% from PSG Grant      S$ 4,000

                   Balance                                S$  1,000
                   Less 90% from SFEC             S$    900
                   Balance Payable                    S$    100

         With both of the PSG grant and SFEC, Enterprise A only need to pay S$100 for a full Xero Cloud Accounting System that

        worth over S$5,000

       

        *** If the E-Invoice Registration Grant (ERG) is applicable, companies can further claim another S$200 to offset the
        full cost.

 

   b.   Workforce Transformation 

         Job redesign initiatives, and curated training programmes by SkillsFuture Singapore (SSG) and Workforce Singapore
        (WSG), such as training courses aligned to the Skills Framework, Professional Conversion Programmes and sector-
        specific programmes. The full sum of up to S$10,000 of credit can be used for this category. 

         • Skills Framework-Aligned Courses
         • Professional Conversion Programme (PCP)
         • Place-and-Train Programmes

    

        For enterprises with employees who have undergone the training programme can claim up to 90% of the unsupported
        course fees. 

       Example

       Enterprise A sent one of their employees for a relevant Skill Framework-Aligned course under the 'Workforce 
        Transformation' supportable programme. An SSG course fees subsidy of 90% will be applicable. After deducting off the
        subsidies, the enterprise still can further claim up to 90% of the balance unfunded course fee through SFEC. 

  

                   Course Fee                                               S$ 1,000
                   Less SSG Course Fees Subsidy (90%)          S$   900
                   Balance                                                    S$    100
                   Less  90% from SFEC                                S$     90

                   Balance Payable                                        S$      10

 

        After both of the Skills Development Funding and SFEC Funding, Enterprise A only needs to pay S$10 for every
        employee sent to the training

Eligibility

 

The employers need to meet the following requirements to qualify for SFEC
        • Have at least 30% of local equity 
        • Have contributed at least S$750 Skills Development Levy over a qualifying period

        • Have employed at least three Singapore Citizen (SCs) or Permanent Residents (PRs) every month over the same period
          of time.

 

There will be 4 qualifying periods:

        i  )   1 April 2019 - 31 March 2020
        ii )   1 July 2019 - 30 June 2020

        iii)   1 October 2019 - 30 September 2020

        iv)   1 January 2020 - 31 December 2020

        *All the qualified employer will be informed in writing. There will be no qualification of employers after the last period.

 

There is no need to apply for the SFEC. Employers that fulfil the eligibility criteria will be informed by Enterprise Singapore in writing. 
   

 

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