Unlocking Growth Opportunities with the PSG Grant in Singapore

The Singaporean government has taken a great step by introducing the Productivity Solutions Grant (PSG) scheme allowing SMEs to implement advanced digital IT solutions in their businesses. As a result, it is likely to enhance their productivity and growth opportunities in the ever-evolving. Businesses can apply for PSG Grant Singaporein different sectors, including Healthcare, Logistics, Food Services, and Precision Engineering industries. How do you avail the digital solutions of PSG in Singapore? Dcub3, a web design company Singapore helps you in the PSG application process.

What Is The Application Process For PSG In Singapore?

Are you going to apply for PSG in Singapore and wondering what will be required in the application process? No need to worry; you must follow the application process mentioned below:-

Eligibility Criteria

Before applying for the PSG application process in Singapore, ensure your business fulfills all the eligibility conditions. Often, the grant is open for all SMEs registered and operating businesses in Singapore, and they have a minimum of 30% local shareholding.

Solution Selection

Select the equipment or productivity solutions you want to implement in your existing business. Later, these solutions should be listed for the pre-approved categories by Enterprise Singapore.

Find Vendor

Select a PSG Grant Singapore Vendoror solution provider that renders you the chosen solution. While selecting the vendors, remember that they should be registered in Singapore and have some experience implementing the required solutions.

Submit Application

Submit your PSG application online through the Business Grants Portal (BGP) or via the relevant sector-specific portals, depending on the nature of your business. You need to mention the essential details such as your company’s information, chosen solution, vendor details, and estimated project cost.

Application Evaluation

Singapore government will cross-check your application based on the eligibility conditions and relevancy of the suggested solution that your business needs. They can even ask for additional information or clarification during the evaluation process.

Approval and Letter of Offer

Once your application is approved, you will receive a Letter of Offer mentioning the grant amount awarded, additional conditions, and any specific requirements you must fulfill to apply to PSG in Singapore. The letter will also include the period you need to complete the project.

Solution Implementation

After receiving the Letter of Offer, you can proceed with the chosen solution with the selected vendor. Ensure you have read all the terms and conditions mentioned in the Letter of Offer.

Claims and Disbursement

Once the solution is implemented effectively, you can deposit a reimbursement claim for the eligible project costs. The claim submission can be made through the BGP or authentic specific portals. You must provide supporting documents such as invoices, receipts, and proof of payment.

Project Evaluation

In certain cases, the Singapore government can conduct project evaluations to identify the positive and negative consequences of the implemented solution.

It is worth mentioning that the PSG application process may be subject to change. So, visit the Singapore Government office or contact them directly for the latest information and guidance about the application process, if any.

Step-By-Step Guide When Applying For The Productivity Solutions Grant (PSG)?

Are you a Singapore citizen and looking for opportunities to expand your business? PSG Enterprise Singapore is rendering the best digital solutions to SMEs that enhance their productivity. You must follow the step-by-step guide for applying PSG in Singapore.

STEP 1: Visit Gobusiness Gov Assist

  • You need to visit a https://www.gobusiness.gov.sg/
  • Visiting the GoBusiness website is the first and foremost step when applying for a PSG digital marketing or e-commerce PSG grant. Once you’ve visited the homepage of the GoBusiness website, search for the ‘Government Assistance’ box. 
  • You will find various options under the Government Assistance box, such as Budget 2023, Find eligible schemes, Productivity Solutions Grant, Energy Efficiency Grant, and Business Grants Portal.
  • However, your concerns are a PSG grant, so you must click the PSG grant portal. After clicking on the Productivity Solutions Grant text, you will be redirected to the Productivity Solutions Grant overview page.
  • The Productivity Solutions Grant or PSG grant portal overview page has two sections All PSG Solutions and Frequently Asked Questions. Both options are placed on the left-hand side of your page.

Step 2: Select A Viable Solution For Your Business

  • When selecting a solution for your business from the available alternatives, you should think carefully about which one you need the most: IT solution, equipment, consultancy, or any other.
  • You need to choose a specific industry and a suitable solution for your business under the head of ‘Solutions For All Sectors.’
  • For example, if you want to apply PSG grant for Human Resource Solutions, click on Human Resource Solutions. You will get a wide range of Human Resource Solutions from a PSG grant pre-approved PSG vendor list. Scroll the page until you don’t find the solution you’ve been looking for.

Step 3 Ask For the Quotation

You need to ask for a quotation from a PSG grant pre-approved vendor or consultant to avail of PSG equipment or solutions. Before starting the application process for the PSG digital marketing or e-commerce grant, you need to contact the vendor or consultant of your choice and request a quote from them.

Summing It Up

With the introduction of PSG in Singapore, the future of Singapore looks promising as it opens the doors for SMEs to implement IT or digital solutions in their business. All of it is possible because of the efforts of the Singaporean government. Take some time to research the PSG grant and choose the best solution for your business. Dcub3 is a full-fledged web development Singapore company that IMDA has appointed for PSG.