Productivity Solution Grant (PSG)

Productivity Solution Grant (PSG)The Productivity Solution Grant, or PSG for short, is a boon from the Singapore government that’s specially made for small and medium-sized enterprises (SMEs) in Singapore wanting to make the leap into the digital world and use IT solutions and equipment to give their operations a boost. It doesn’t matter if you’re in the clothing, food business, construction or any other industry – the PSG has a whole suite of IT solutions ready to be deployed, catering to many fields such as customer management, inventory tracking or financial management. The best part? The PSG can cover up to a whopping 80% of costs just for approved e-commerce systems.

You might be asking yourself, “Can I apply for the PSG?” If your company calls Singapore home, you own at least 30% of it, and you’ve got some IT needs, there’s a good chance that you qualify for the grant.

But what if your company is still a fledgling, just six months or less old? Don’t fret, you’re still in the race! Enterprise Singapore (ESG) will check out
your case, and you could still be a contender for the PSG.

Alright, let’s move on to the paperwork you’ll need. Think of it as a party list: an invoice, a purchase order or a signed contract, screenshots proving your company name and the e-commerce solution you’re using, some software license numbers along with a use report for at least one month, a doppelganger of the payment in the form of a check, and a bank statement showcasing the transaction.

So, how do you apply? Follow these steps:

  1. Dip into the GoBusiness Gov Assist website. Here, you’ll see a whole list of solutions that are up for grabs. Pick the one that best fits what your business needs.
  2. Reach out to the vendors you like and get some quotes. Specifically, you’ll need one quote from a pre-approved vendor if you’re going digital, and another quote and a product brochure from your vendor of choice for equipment.
  3. Head over to the Business Grants Portal (BGP) at www.businessgrants.gov.sg to fill out an application. Remember, you’ll need a SingPass account to get into the BGP.

Do note that not all organizations can benefit from these grant funds. Institutions of Public Character, Charities (IPCs), religious organizations, Voluntary/Non-profit Welfare Organisations (VWOs), as well as government agencies and subsidiaries, unfortunately, do not qualify for this grant.