In our efforts to support SMEs growth, we’ve rolled out a premium Magento
Ecommerce solution that has been pre-approved under the SMEs Go Digital
Initiative. Because it’s been pre-approved, you’ll be able to dive right in to
growing your business without further delay.
Get started in funding your Ecommerce endeavour with the Productivity
Solutions Grant (PSG)!
On April 1, 2018, the Singapore government launched the Productivity Solutions Grant (PSG), a grant that encourages businesses to adopt digital productivity solutions. With today’s technology and everyone going digital, PSG aims to help companies that are determined in adopting information technology solutions and equipment to amplify their business processes in order to be more effective and efficient in improving their productivity.
In our efforts to support Small and Medium-sized Enterprises’s (SME) growth, we’ve rolled out a premium Magento eCommerce solution that has been pre-approved under the SMEs Go Digital initiative. Because it’s a pre-approved solution, you’ll be able to dive right into growing our business without further delay.
Industry collaboration is essential in maintaining Singapore’s innovative and productive SME atmosphere. Digital marketing is on the rise, and as companies move online, they would require support and funding for them to future-proof their business. With the PSG, SMEs will no longer have to worry so much about migrating to the digital space, as the government rolls out up to 80% of funding support to qualified businesses.
Every company owner, especially those operating an SME, wants their business to become the trusted and go-to brand in its industry. Digital marketing has evolved in many ways that it’s now a vital tool in building the trust and brand that you’ve always wanted for your business. Pair it with Singapore’s Productivity Solutions Grant, and you’ll be able to implement the best business strategies for your company to succeed in the future.
A. Productivity Solutions Grant is a program under the Environmental Services Industry Transformation Map (ES ITM) designed to augment the operational efficiency and productivity of the ES industry through technology adaptation.
A. PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction, and landscaping industries.
A. The Productivity Solutions Grant (PSG) also supports the adoption of a solution that cuts across industries, such as in areas of customer management, financial management, inventory tracking and data analytics.
Apart from that, COVID-19 business continuity solutions such as online collaboration tools, virtual meeting and telephony tools, queue management systems, and temperature screening solutions are included. These solutions are pre-scoped by various government agencies such as the National Environmental Agency (NEA), Enterprise Singapore (ESG), and Singapore Tourism Board (STB).
Charities, Institutions of Public Characters (IPCs), Religious Entities, Voluntary Welfare Organisation (VWO), and Government agencies and subsidiaries are not covered by this grant support.
A. If you have a Singaporean Small and Medium Enterprise (SME) looking to continue your digitalization and productivity upgrading efforts and you meet the criteria below, then yes you can.
A. Once your application is approved, the funding support will be raised to 70% of the qualifying cost from 1st April 2022. For Food Services and Retail sectors. support level will be up to 80% from 1 April 2022 to 31 March 2023.
A. You may see the full list on Tech Depot.
A. No, it can’t. The equipment or IT solution should only be used by the applicant’s primary entity and not by a related party.
A. The holding period is one year from the date of final claim disbursement.
A. The documents needed are as follows:
A. To apply for the PSG, you will have to:
A. Sure, just the follow the steps below:
A. For companies supported by ESG, they are given an annual grant cap of S$30,000 starting the 1st of April until the 31st of March of the following year.
A. Companies that have fully availed of their grant caps will not be eligible for assistance within the validity period of the grant cap. They can apply again in the next cycle when the grant cap is already refreshed. Companies are strongly encouraged to strategize the use of the PSG for their purchase.
A. Applications are processed within 4-6 weeks from the submission of all required information/documents.
A. Companies can apply for more than one PSG, depending on your business needs. Also, take note that the support can only be extended for one package per solution category and deployment location. You cannot apply for the same IT solution to be deployed in the same location.
A. Just like any usual business payment, cheques and bank transfers are acceptable.
For credit card payments, the owner of the card must be the sole proprietor, or in the case of corporate entities, there should be an official document stating that the expenses incurred were by the company and not for personal usage. Reimbursements to the director or individual need to be submitted as well.
A. Apparently not. The information you have submitted to the PSG must not be different from your quotation.
A. Additional items can be quoted separately and make sure that whatever modification you have made to your package, you’ll also present it to IMDA for approval.
A. Even if we want to, we can’t. Each organization should submit its own application.
In summary, Productivity Solutions Grant (PSG) is crafted for small-medium enterprises who want to invest in digital technology to help them gain more profit, be efficient and effective. With funding support of up to 80% of the qualifying cost once approved, we’ll definitely help every business entity to make progress in the digital world. Just make sure that when you apply for PSG, all details declared are true; it’s also free to apply.
Contact us today to schedule a consultation, where our experts will help to assess your eligibility to apply for the SMEs Go Digital initiative and receive up to 70% funding from the PSG and SFEC.
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