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.
1. Singapore pavilions / curated showcases at international trade fairs
2. Business development missions
3. Deal Hunter Programme
4. Market advisory / in-market business connection programmes
5. Related Seminars & Workshops by Industry Experts organised and/or co-ordinated by the SFIC
6. Other business growth programmes as may be organised or co-ordinated by the SFIC
1. SFIC-led industry e-sourcing/marketing platform to help members scale up B2B market outreach
– Annual subscription service fee
– Adoption of tech solutions (eg 3D product rendering) for the brand’s page on the platform
– Additional value-added support services provided such as curated showcases at relevant trade events, dedicated email marketing, advanced data analytics, landing page optimisation etc
2. Pre-scoped digital solutions provided by pre-approved vendors by the SFIC
3. Other digitalisation programmes / digital technology advisory / adoption as may be organised or co-ordinated by the SFIC
4. Related Seminars & Workshops by Industry Experts organised and/or co-ordinated by the SFIC
1. Design Innovation Programme
2. Design-centric showcases at events endorsed / organised by SFIC
3. Related Seminars & Workshops by Industry Experts organised and/or coordinated by the SFIC
4. Other design development programmes as may be organised or co-ordinated by the SFIC
All programmes by SFIC and/or SFIC Institute
1. Professional Placement Programmes for:
– Digital Operations Talents
– Matured Workers
– new programmes that may be added
2. ASEAN Business Leadership Programme
3. Youth Furniture Chapter (YFC) programmes / activities
4. Upskilling courses, workshops, masterclasses, roundtables etc
5. Business Advisory / Consultancy Services
6. Other Enterprise and Human Capital Development programmes as may be organised or co-ordinated by the SFIC and/or SFIC Institute
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|
|Social media management|
|First Page Digital Pte Ltd
|SEO, Social media management|
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.