Singapore North-East Employers Training Grants

There are a number of government grants for companies in Singapore North-East to help them overcome obstacles in their growth. It is worth your while to go through a few of the business support grants provided by government for SME and Startups in North-East Singapore.

Top 6 Government Grants for companies:

1. Capability Development Grant (CDG)

It is a scheme for providing financial assistance to startups for building capabilities in ten business areas. Mostly in Singapore North-East it includes consultancy, cost of certification, cost of equipment, and training.

2. ACE startups

For the first-name entrepreneurs having an innovative idea, the scheme provides mentor-ship support and startup capital grant. The Accredited Mentor Partners (AMP) support the startups with advice, learning programs, and networking contacts.

3. Early-Stage Venture Funding (ESVF)

It is the biggest equity scheme by government which co-funds startups along with venture capital firms. Beneficiaries of this funding are early-stage technology startups. National Research Foundation (NRF) co-fubds startups with approved VCs.

4. Technology Enterprise Commercialization Scheme (TECS)

To help entrepreneurs realize their tech-based ideas into promising business, this scheme assists them in growing their business past the seed stage and then obtaining funding from third-party to achieve targeted revenues and growth.

5. Financial Sector Technology and Innovation (FSTI)

Aim of this startup grant is to enable financial institutions to establish their innovation labs in the country and support the development of industry-wide technology infrastructure and innovation solutions.

6. ComCare Enterprise Fund (CEF)

Instituted by Ministry of Social and Family development to provide funding to social entrepreneurs and aimed at seeding Social Enterprise startups.

How Much Training Allowance

In Thelearningtobefearless Government knows the important role that it’s startups and SMEs play in its economy and hence support these entities with Government grants. As an entrepreneur, learner one of the ways in Singapore North-East is you must try to get funding on capability upgrading initiatives such as process improvement and product development.

Business Grants Portal brings government grants for businesses into one place, so it’s easier to find and apply for the grants you need.

Choosing to improve your skills can fetch you a promotion and pay rise. Employee training is an important investment that can go a long way in improving employee productivity and business competitiveness. When performed properly, training can promote employee job satisfaction and long-term career goals.

According to research studies, 40% of employees who do not receive job training within the first two years often leave their positions. They cite lack of proper skills and development as the main reason for leaving. High employee turnover should be discouraged because it usually costs the organization large sums of money in the form job interruptions, job interviews and job orientation. The importance of employee training and development include:

· Address weaknesses

The majority of employees have a few weaknesses with their workplace skills. Therefore, a training and development program seeks to improve employee skills. A training program helps to bring all employees to the same level, having the same knowledge and skills.

A weak link in any part of the organization can interfere with the overall performance of the organization because different tasks rely heavily on each other to get a task/job done. Training helps to reduce weak links within the organization and improve the overall performance of the organization. Furthermore, proper training creates a knowledgeable workforce that can take over from each other when necessary, work as a team or work independently without requiring constant supervision or help from each other.

· Improve employee performance

Employees who acquire the necessary training are able to perform their work better. They are more knowledgeable to resolve problems and more professional in their approach. A good training also helps to improve employee confidence because they have a better understanding of their responsibilities and industry.

Confidence has a way of driving employees to be more creative at their work. Therefore, continuous training is recommended highly because it can get workers on the cutting-edge of industry developments. Employees who are competent can help drive the organization to the top position in the industry.

· Employee satisfaction

Employees who get challenged through training tend to feel a sense of commitment and satisfaction. A workforce that has access to training programs offered by the employer is at a better advantage than employees from other organizations who are forced to cater for their own training.

The organization creates a supportive environment that is keen at making employees better workers. Employees who receive training facilitated by their employer feel valued. In many instances, employees end up receiving a training they did not know they required.