What is SFEC Grant? (SkillsFuture Enterprise Credit Grant)
What is SkillsFuture Enterprise Credit
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.
SFEC aims to encourage employers to undertake enterprise and workforce transformation initiatives. Eligible employers will receive additional support for their enterprise and workforce transformation efforts, over and above the support levels of existing schemes. It was announced in Budget 2020 and expanded to a larger group of employers in Budget 2022.
What is the support level for SFEC?
Eligible employers receive a one-off credit of up to $10,000 per firm to cover up to 90% of out-of-pocket expenses (refer to s/n 3 for illustration) on qualifying costs for enterprise transformation programs and workforce transformation programs.
Enterprise Transformation up to $7,000 – Schemes by various agencies hosted on the Business Grant Portal (BGP)
Workforce Transformation (up to the full $10,000 – Training courses aligned to the various Industry Skills Frameworks by SkillsFuture Singapore (SSG), Job redesign initiatives and Career Conversion Programmes etc. by Workforce Singapore (WSG)
Employers will have to meet the eligibility criteria of the individual SFECsupportable programmes before they can draw down the Credit.
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