SkillsFuture Enterprise Credit: Who Qualifies and What You Get
Small businesses in Singapore can receive a credit to help cover the costs of business transformation and training.
This scheme provides a credit to help small businesses cover the costs of upgrading their operations and training staff.
Who it's for
This is for small business owners who have at least one local employee on their payroll.
What you get
You can receive a $10,000 credit. This credit is used to offset up to 90% of your out-of-pocket expenses when you invest in business transformation activities.
What it costs you
To be eligible, you must maintain your business registration with the relevant authorities and continue making the required pension contributions for your staff.
The catch to know
You do not need to manually claim the credit; it is applied to your account automatically. You should log in to the official portal to check your available balance.
How to apply
- Ensure your business is registered and staff contributions are up to date.
- Identify the transformation or training activities you wish to fund.
- Check your existing credit balance on the official website.
- Follow the guided steps on the portal to use your credit.