SMF recognises that government agencies are important stakeholders in creating conducive environment for manufacturing developments. Hence, SMF works closely with various trade, industry and workforce development agencies to promote government assistance schemes and develop new initiatives that support transformation of the local manufacturing sector.
SMF offers a myriad of activities ranging from trade fairs and missions to training courses, many which are funded by the government. Some of the assistance schemes that SMF members commonly enquire include:
International Marketing Activities Programme (iMAP)
The Global Business Groups (GBG) Division of SMF works closely with International Enterprise (IE) Singapore to help Singapore-incorporated companies internationalise under the International Marketing Activities Programme (IMAP) scheme.
iMAP provides funding support to overseas business missions and Singapore Pavilions at international trade fairs by reimbursing up to 70% of eligible expenses.
All eligible applications will be evaluated based on the criteria of IE Singapore.
Click here to view the list of IMAP support events organised by SMF.
For more information, contact us at (65) 6826 3000 or email email@example.com.
SMF Centre for Corporate Learning (CCL) works closely with the Singapore Workforce Development Agency (WDA) and presents training courses and programmes that are funded through government assistance schemes.
Skills Programme for Upgrading and Resilience (SPUR) is an enhanced funding scheme developed to up-scale training programmes to help companies and workers to during the recent economic downturn and to build strong capabilities for the recovery.
SPUR offers financial incentives to employers when they send their workers for SPUR courses conducted by approved training providers. The incentives are course fee subsidy and compensation for workers’ absence during the period of training (absentee payroll subsidy).
Through the Skills Development Fund (SDF), employers can enjoy subsidies as high as 90% for staff training costs though the subsidy may differ for various courses. The subsidy rate significantly reduces the training costs for employers.
Employer-based funding is available for 3 types of training:
- Certifiable Skills Training, which refers to training that leads to national or industry-wide certification.
- Non-certifiable Skills Training, which refers to training that does not lead to national or industry-wide certification.
- Overseas Training, which are training programmes conducted outside Singapore, Malaysia or Indonesia.
CCL runs Workforce Skills Qualified (WSQ) Certification Programmes and Occupational Safety and Health Courses. Click here to view courses available or contact firstname.lastname@example.org for more information.
FSDF Funding for financial industry competency standards (FICS) accredited training and assessment programmes
For financial institutions that send their staff for external FICS accredited training and/or assessment programmes, MAS has increased the funding support for training and assessment fees from 70% to 90%. Funding support is also made available to financial institutions that develop in-house FICS accredited programmes.
For individuals who are not sponsored by financial institutions and who pay for their own training and/or assessment, MAS will similarly provide 90% grant support when they attend and complete FICS accredited programmes. The funding support described above will apply to FICS accredited programmes that commence between 1 January 2009 and 31 December 2010.
Some of the government assistance schemes* include areas in:
To enhance competitiveness in domestic and global markets through holistic branding programmes for corporate and/or product/s. Also involves Intellectual Property (IP) protection.
Quality Management Systems
To gain international recognition on quality standards.
To create or improve on existing Information Technology Systems.
Strengthen Management Capabilities
To develop a clear road map using business excellence framework and to identify business gaps for improvement and growth.
To harness technology for work process/product improvement
To provide advisory services on employees’ skills upgrading and capability development training programmes.
Work Life Balance
To create work life harmony for employees so as to achieve better productivity and satisfaction at work.
Workplace Health & Sports
To initiate and sustain workplace health programmes to promote healthier lifestyles for employees and to improve the bottom-line for companies.
To help enterprises develop good risk management capabilities and to identify, reduce/control hazards in compliance with the Workplace Safety & Health Act.
*Funding programmes are provided by government agencies like SPRING Singapore, IE Singapore, Ministry of Manpower, Singapore Workforce Development Agency and Health Promotion Board. Applications are subject to approval of criterion from the relevant government agencies.