The Skills Development Scheme is designed to give assistance to SMEs and also large businesses in offering training opportunities to their current staff and new employees in order to develop new skills and enhance their knowledge.
This scheme covers 70% of the training costs including trainees and trainers during the training period, expenses related to external expert fees, costs associated with air travel, and subscription expenses for accessing online training materials on a per-hour basis. Financial support can primarily be given in the form of a tax credit, but a cash grant is not to be ruled out as well. More than 100 beneficiaries have been assisted with a total of 5 million investment over the last 2 years.
Training must be divided into modules, with each one of them must last to at least 8 hours in duration and must be delivered to at least 5 different employees. This has to lead to the acquisition of new skills, knowhow, and knowledge.
The deadline for this scheme is extended till the 31st of December 2023.
For more information or if in need of any assistance, send us an email on [email protected].