Lean Enterprise Development (LED) Scheme
LED Scheme to help Progressive Small and Medium Enterprises (SMEs) to Transform and Grow in a Manpower-Lean Economy
Objectives of LED Scheme
To support SMEs that want to be pioneers and early adopters of change to be:
- more productive;
- more innovative; and
- more manpower-lean.
When is it?
The LED Scheme is piloted for two years from 1 October 2015.
Key features of LED Scheme
(a) Alignment of efforts towards becoming more manpower-lean, with emphasis on building a stronger Singaporean core and developing better quality workers
(b)Transitional manpower support for early success
Such initiatives include:
- Transformation of existing businesses to reduce manpower wastage and overall reliance on foreign manpower
- Introduction of breakthrough ideas to make industries more future-ready
- Transfer of advanced skills and knowledge to help strengthen the capacity and capabilities of our local workforce, improve the quality of employees, and speed up the process of restructuring
The transitional adjustment to be granted by MOM will be tailored to the specific needs of the transformational projects. Proposals should be:
- have the potential to transform industry practices
- within a two to three year timeframe
The transitional manpower support for each SME project will be reviewed annually and renewable for up to a maximum of three years.
(c) Closer coordination and wider outreach to SMEs
Who is eligible?
The LED Scheme is open to progressive SMEs that want to become more manpower-lean, develop a stronger Singaporean core, and build a better quality workforce.
Priority will be given to:
- projects which have the potential to be scaled up to create transformational change for their respective industries
- proposals which involve groups of companies and / or are endorsed by the relevant industry association or union
Disclaimer: This publication does not provide financial, legal or tax or advice of any kind, and VALON cannot guarantee that the information is accurate, complete or up-to-date. While we intend to make every attempt to keep the information in this publication current, VALON make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained herein. Nothing on this publication should be used as a substitute for the advice of a third party. VALON assumes no responsibility to any person who relies on information contained herein and disclaim all liability in respect to such information. You should not act upon information in this publication without seeking professional advice.