Guide to Applying for the PSG Grant

Are you running a small business in Singapore? Do you need urgent financial assistance for the adoption of IT solutions? If yes, you should consider taking advantage of the Productivity Solutions Grant (PSG). Now more than ever, you can partner with a pre-approved PSG marketing vendor and watch as they help you get this government grant.

 

Actually, the PSG grant is a game-changer for most small businesses in Singapore. Keeping costs low, productivity high, and processes as streamlined as possible is important for every small business to thrive. The PSG grant supports local businesses in adopting and implementing tech solutions to bolster productivity.

 

The PSG grant offers funding to businesses to help them subsidize the costs of adopting pre-approved, productivity- enhancing solutions. So, how does it work? Well, local SMEs will be able to get up to 50% of funding for eligible costs, at a cap of S$30,000.

 

It is important to note that this grant covers sector-specific solutions across various industries, including but not limited to retail, food, logistics, construction, manufacturing, and more. Not to mention, it supports the adoption of generic solutions in areas like digital marketing, inventory tracking, human resource management and more.

 

As per EnterpriseSG, you should be able to get an update on your application about 6 weeks after completing the application process. But the timeline for PSG approval can vary immensely, based on factors such as the complexity of the application, completeness of documentation, and the efficiency of the evaluation process. In some instances, business may get an approval within a few weeks, while others might take a bit longer.

 

You can always count on a pre-approved PSG marketing vendor to help with the application process. Either way, you should read through the full list of solutions that have been pre-approved and identify the relevant solutions for your business.

 

Get direct quotation from the pre-approved PSG marketing vendor for the solution, equipment or consultancy services you want. Equipped with this information, you should prepare all your supporting documents. Finally, submit your application on the Business Grants Portal (BGP).

 

As we conclude, you will need a quotation addressed to your registered company name as per your ACRA BizFile, and take note that your company’s full name should be reflected. Furthermore, you should also not have made any payment or deposits to the vendor prior to your application.