Entrepreneur

S'pore Firms To Get Extra 10% Funding To Train Workers And Raise Wages From April 2020

At the May Day Rally on 1 May 2019, Deputy Prime Minister Heng Swee Keat announced the addition of 10% more funding support for enterprises.

These funds from the National Trades Union Congress (NTUC) will be added to the existing Enterprise Development Grant (EDG) beginning 1 April 2020.

Currently, the EDG provides up to 70% of funding for Singapore companies to train and improve their workforce, an amount that was extended for three more years to 2023 during the 2019 Budget.

The extra 10% of funding will benefit unionised companies and partners of the Employment and Employability Institute (e2i).

But to receive the support, they will first need to meet two requirements.

Companies that want to enjoy the additional funding must at least set up a company training committee, and commit to either increasing the salaries of their low-wage employees or training them in new skills.

Featured Image Credit: NTUC

 

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