SkillsFuture credit for employers and businesses

Published Date: 11 September 2017 12:00 AM

News Parliamentary Replies

Name and Constituency of Member of Parliament

Mr Patrick Tay Teck Guan, West Coast GRC

Question

To ask the Minister for Education (Higher Education and Skills) whether his Ministry will consider having a SkillsFuture Credit for employers and businesses for the benefit of SMEs and start-ups in the area of continuing education and training for their employees.

Response

1. The Government has always recognized the need to give SMEs additional help in building up human capital capabilities.

2. Hence, there are currently many training subsidies and grants available to firms. Under the “Enhanced Training Support for SMEs” scheme administered by SkillsFuture Singapore (SSG), SMEs receive up to 90% course fee subsidies and absentee payroll funding when they sponsor their employees for training. Firms can also tap on SSG’s training grants for in-house training programmes.

3. SMEs can also tap on SPRING’s “Capability Development Grant in Human Capital Development” to develop learning processes, training roadmaps and training frameworks for their employees. Firms can also benefit from the external insight and in-depth mentorship provided by the expert mentors under SPRING’s “SkillsFuture SME Mentors Programme”. These mentors will help to diagnose gaps in the company’s learning and development initiatives, review and enhance existing training plans, as well as monitor and coach companies’ supervisors or managers in their training delivery.

4. For individuals, SkillsFuture Credit triggered their desire to upgrade. But unlike individuals, businesses operating in a competitive environment should always be eager to improve and raise their game. It is better to support SMEs through more targeted programmes and schemes, than to provide SMEs with a SkillsFuture Credit.

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