SkillsFuture Enterprise Credit

SkillsFuture Orange Banner of man with telescope

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, Career Conversion Programmes and sector-specific programmes

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

Programmes Agency
Enterprise Capability Development Programme

1. Enterprise Development Grant (EDG)

2. Enterprise Leadership for Transformation Programme (ELT)

3. Market Readiness Assistance (MRA)

Enterprise Singapore
4. 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
5. Business Improvement Fund (BIF)  Singapore Tourism Board
6. 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

2. Career Conversion Programme (course fee expenses only)

3. Rank-and-File Place-and-Train Programmes (course fee expenses only)

4. Support for Job Redesign consultancy under Productivity Solutions Grant (PSG-JR)

5. Job Redesign initiatives [e.g. i4.0 Human Capital Initiative for Manufacturing Sector, Service Industry Transformation Programme for the Services sector]

Workforce Singapore
6. 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:

a.  There is no need to apply for SFEC. Your credit will be automatically used on supportable programmes that you have applied for.

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

c.  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.

d.  Final claims for SFEC-supportable programmes must be submitted to the respective agencies by 30 June 2024.

 

1Qualifying period: 1 Jan 2021 – 31 Dec 2021

2Previous 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

 

Please visit SFEC Claims to manage your SkillsFuture Enterprise Credit.

Eligibility

Eligible employers have been qualified for SFEC over 5 qualifying periods. Employers that have fulfilled the eligibility criteria for SFEC will be informed by Enterprise Singapore.

 

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

 

  Qualifying Periods  Eligibility Criteria 
SFEC (Budget 2020)   

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

 

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.
 SFEC Expansion (Budget 2022)  a. 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 the qualification process.