Singapore Furniture Industries Council (SFIC) has unveiled its fifth Member Assistance Scheme (“SFICAssist”) to give members a shot in the arm to deal with current tough economic challenges. Supported by Enterprise Singapore (ESG), the scheme is also aimed at strengthening their business capabilities and market diversification efforts. Under the SG Together Enhancing Enterprise Resilience (STEER) Programme, ESG will match S$1 for every S$2 raised by SFIC. SFICAssist is the first fund to be supported under STEER.
More than 300 Full members and Associate members who joined SFIC as at 31 January 2020 will be eligible for the S$1.450 million scheme, which will be available from 1 April 2020 to 30 September 2021. Eligible members can expect to receive between S$1,500 and S$9,000 in financial aid based on the length of their SFIC membership. Members can draw on this allocated credit quantum to offset the cost of participation in approved SFIC and SFIC Institute programmes.* SFIC will also waive a year of membership subscription fees for existing Full and Associate Members with effect from July 2020.
*Terms & conditions apply.
How it works:
- First 50% of quantum is reserved for SFIC Institute Programmes
- Balance 50% can be used for either SFIC Institute or other SFIC programmes/SFIC-approved vendor services
Note: For SFIC-approved vendor services, a member can only use its quantum to claim from 50% to 90% of invoice, as specified for respective programmes.
Scenario: ABC Pte Ltd has $3,000 in membership quantum. Here are some examples of approved usage:
- It wishes to use the entire $3,000 sum for SFICI Institute programmes
- It wishes to use $1,500 for an SFICI Institute programme and $1,500 for an SFIC overseas trade fair participation fees
- It wishes to use $1,500 for an SFICI Institute programme and $1,500 for the annual subscription fee for SFIC’s new digital sourcing platform
- It wishes to use $2,000 for an SFICI Institute programme and $1,000 for SFIC-approved vendor services. The invoice for the vendor service is $1,000 (in this case, ABC Pte Ltd can only claim $900 from the quantum).
List of supportable programmes (click tabs below)
Note: The list of supportable SFIC programmes/activities below is not exhaustive. SFIC reserves the right to vary its disbursement should there be changes to the activity/programme.
Click tabs below to view SFIC-Approved Digital Vendor Services
Note: The listing below is not to be taken as a form of endorsement or recommendation by SFIC. Companies are reminded to carry out due diligence when engaging the vendors of these solutions.
|Silversea Media Group
|Virtual showroom, 3D product scans
|Smart Décor Pte Ltd
|Coohom Interior design visualisation software|
|TheKnowHow.In Pte Ltd
|PYTHA 3D CAD system|
|WhizHome Pte Ltd
|Product Scanning, Digital Asset Creation, 3D Virtual Walkthrough, Custom Platform Applications|
How to Apply
1. Submit e-form with scanned copies of relevant supporting documents for claim.
2. An SFIC staff will be in touch to confirm application.
1. Approval of Disbursement is subject to confirmation of participation.
2. Disbursement refers to the amount to be deducted from the allocated quantum of the member.
3. The application for SFICAssist – 5th Member Assistance Scheme is subject to the approval of SFIC.
Click here for Excel Application Form (SFIC Institute Programmes Only)
How to apply (SFIC Institute Programmes only): Download excel form above, complete and email to email@example.com