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What is SkillsFuture Enterprise Credit (SFEC) and How Can Your Business Benefit?

Piyush Sharma
Apr 04
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In today’s fast-evolving business landscape, staying ahead means continuously upgrading your workforce and transforming your operations. The SkillsFuture Enterprise Credit (SFEC) is one of Singapore’s most impactful government initiatives designed to support employers in doing just that.

Whether you’re an SME or a large enterprise, understanding SFEC can help your company save on training and capability-building costs while aligning with long-term business growth strategies.

What is SFEC?

The SkillsFuture Enterprise Credit (SFEC) is a financial support initiative by SkillsFuture Singapore (SSG), offering employers up to $10,000 in credits to cover up to 90% of out-of-pocket expenses on eligible initiatives. These can include workforce training and capability development programs that enhance business efficiency and innovation.

SFEC aims to encourage employers to invest in both enterprise transformation and employee development in tandem.

What Can SFEC Be Used For?

SFEC can be used on:

  • Workforce upgrading programs (e.g. SkillsFuture courses, training programs under WSQ)

  • Transformation initiatives supported by agencies such as Enterprise Singapore or IMDA

  • Implementing tech solutions (e.g. ERP, HRMS, e-commerce platforms)

  • Productivity and automation-related projects

Who Is Eligible for SFEC?

To qualify for SFEC, employers must meet the following automatic eligibility criteria in a qualifying period (there are no application forms required):

  1. Be a registered business in Singapore

  2. Contribute at least $750 in Skills Development Levy (SDL) over a qualifying period (e.g. 12 months)

  3. Have at least 3 Singapore Citizens or Permanent Residents (PRs) employed during that period

  4. Must not be blacklisted or have any default in government incentive repayment

Note: Eligibility is assessed automatically by the authorities, and no separate application is required.

How to Check If Your Company Is Eligible for SFEC?

You can check your company’s SFEC eligibility and balance by logging into the Business Grants Portal (BGP):

  1. Visit https://www.businessgrants.gov.sg

  2. Log in using your CorpPass

  3. Go to “My Grants” section

  4. Look out for below banner on BGP. Employers that are not eligible for SFEC will not have the banner reflected on their BGP application page below.
    sfec-check-2

If your company is eligible, it will automatically be reflected, and any approved funding claims can offset eligible costs without further paperwork.

Pro Tip for HR & Ops Leaders:

If you’re planning to implement HR software like Carbonate HRMS, you may be able to claim SFEC support for digital transformation under qualifying schemes. This includes improvements in payroll, attendance, training, and even MOM-compliant features like direct OED submission.

Conclusion

The SkillsFuture Enterprise Credit is an excellent opportunity for businesses in Singapore to invest in training and innovation with reduced financial burden. By leveraging SFEC, you not only empower your employees with better skills but also future-proof your business for the challenges ahead.

Don’t let these credits go unused—check your eligibility and start transforming your business today.

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