Productivity Solutions Grant (PSG)
Over the past century, technology has made a tremendous impact on our daily life. The advancement of these technology solutions not only allows us to get valuable information on the thing we care about but also makes things work efficiently. And for businesses, the only way forward is to automate processes and adopt digital solutions. To prepare Singapore in its digital transformation, the government encourages businesses to adopt IT solutions and equipment to improve productivity so as to stay sustainably.
Thus, Productivity Solutions Grant (PSG) is introduced to support enterprises on their digitalisation and productivity upgrading efforts.
What is PSG?
The grants provide financial support to companies that are taking the steps in adopting IT solutions and equipment to enhance their operational processes. It covers sector-specific solutions such as:
- Retail
- Food & Beverage
- Logistics
- Precision Engineering
- Construction
- Landscaping
Other than these sector-specific solutions, PSG also supports the adoption of solutions that can be used in any industry. A few examples of such solutions are Customer Relationship Management systems, Human Resource management systems, Data analytic, financial & accounting management systems, and inventory tracking systems.
Do note that, these solutions must be applied and purchase with the authorized vendors that have been pre-scoped by the government.
As of 2020, the maximum funding will be raised to 80% of the qualifying cost from 1 April 2020 to 31 December 2020.
Does my company qualify for the PSG?
There are 3 requirements to be eligible for the grants
- The company must be incorporated in Singapore.
- The solutions or equipment must be used in Singapore.
- The company must have a minimum of 30% local shareholding, with an annual sales turnover of less than S$100 million or less than 200 employees.
How can I apply for the PSG?
- Firstly, you need to identify what are the areas that require improvement in your business process.
- Get a quotation from the pre-approved vendors for suitable solutions.
- Submit an application on the Business Grant Portal (BGP). You will need a CorpPass account to log in to the portal.
- Or simply reach out to us for the full range of grant application service.
Due to Covid-19, Businesses are required to adopt safety measures while operating their business. Implementation of safe distancing, temperature screening, and recording of visitor’s entry is compulsory. PSG can be used to support these implementations up to 80%.
Some of the solutions are visitor/queue management, automatic temperature screening solutions.
Do also see what other available grants can be applied to your company.
