Productivity Solutions Grant (PSG)
Productivity Solutions Grant (PSG) was announce in this year’s budget to assist companies to adopt pre-scoped IT solutions. You can refer to SME Portal for more details.
What does it do?
It covers sector specific IT solutions to assist specific sectors as well as some generic IT solutions for sectors not in focus. Companies especially SMEs can tap on the solutions directly to help them adopt solutions specific to their industry.
How much support does it covers?
PSG supports up to 70% of investments pertaining to adoption of productivity related solutions.
Which are the industries covered?
For a start industries include retail, food, logistics, precision engineering, construction and landscaping industries. Those sectors which are not industry specific, there are also solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.
Who are eligible to apply for PSG?
SMEs can apply for PSG if they meet the following criteria:
- Registered and operating in Singapore
- Purchase, lease or subscription of the IT solutions or equipment must be used in Singapore
- Have a minimum of 30% local shareholding (for selected solutions only)
How to apply?
Here are the steps you can take when applying for PSG:
- Access the list of supportable solutions from below and identify relevant solutions that best suit your business needs.
- For IT solutions : Get a quotation from the pre-approved vendor.
For equipment : Source for the equipment and get a quotation from the vendor.
- Submit an application on the Business Grant Portal (BGP). You will need to register for a CorpPass account to transact on the portal.
We are currently applying for our products ABSS and Moneyworks to be listed as pre-approved solutions. For those who are interest, you can send us your enquiry, talk to us, and if our solutions is suitable, we can reserve to notify you when we get the relevant solutions approval known to you when ready.