Skills Development Fund

The Skills Development Fund is a financial initiative aimed at enhancing workers' skills through funding training programs. It is typically established by government or industry bodies to support employees and employers in upgrading capabilities relevant to the job market. The fund provides grants or subsidies to cover training costs, encouraging continuous professional development. This investment helps improve workforce productivity, adapt to technological changes, and boost economic growth by ensuring workers possess the skills needed for current and future job demands. It ultimately benefits both employees seeking career growth and businesses aiming for competitive advantage.