Productivity Solution Grant (PSG)
The Productivity Solution Grant (PSG) is a Singapore government grant that helps local SMEs who seek to use IT solutions and equipment to improve their operations. PSG offers a wide range of IT solutions for various industries, including retail, construction, food, and business management, processes, and systems, including customer management, inventory management, and financial management. For approved e-commerce systems, PSG offers up to 80% finance.
Who Can Apply for the PSG (Productivity Solutions Grant)?
To be eligible for PSG, SMEs must meet the following criteria:
- Singapore is where the company is registered and where it operates.
- A minimum of 30% local ownership is required.
- Looking for IT solutions in Singapore
You’re in luck if you’re an SME registered and operating in Singapore with at least 30% local equity searching for IT solutions. Then, you can qualify for the PSG.
You can still apply for PSG if your company hasn’t been in operation for more than six months, subject to Enterprise Singapore’s approval (ESG).
What Paperwork Must Businesses Submit to be Considered for the Productivity Solutions Grant (PSG)?
For a successful PSG application, you’ll need the following documents:
- Purchase order or signed quotation/contract acceptance
- Screenshots of the firm name and the e-commerce solution’s name.
- Software license number(s) with a minimum one-month use report
- A receipt or a duplicate of payment by check
- Payment made on the bank statement.
Application for the Grant
To apply for the PSG, businesses must:
- Visit the GoBusiness Gov Assist website to review the list of supportable solutions and select the most appropriate ones for your business.
- Request quotes from the providers you want to work with:
- Obtain a quote from a pre-approved vendor for a digital solution.
- Get a quote and a product brochure from the vendor you’ve chosen for equipment.
Fill out a Business Grants Portal (BGP) application at www.businessgrants.gov.sg
NOTE: To access BGP, businesses must have a SingPass account.
The following organisations are not eligible for grant funding:
- Institutions of Public Character, Charities (IPCs),
- Religious Organizations
- Voluntary/non-profit welfare organisation (VWO)
- Agencies and subsidiaries of the government