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Leveraging on Singapore Government Grants

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What is the Productivity Solutions Grant (PSG)?

A joint initiative by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore (ESG), the PSG supports companies keen on adopting IT solutions and equipment to enhance business processes.

Technology is not about fancy and expensive high-end solutions. You can kick-start your technology journey by taking simple steps to automate existing processes and improve productivity. The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.

For a start, PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries. Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.

As announced at Budget Statement 2022, PSG will be enhanced to encourage enterprises to continue their digitalisation and productivity upgrading efforts. The maximum funding support level will be raised to 50% from 1st April 2023. Read more 
 

Who is eligible?

SMEs can apply for PSG if they meet the following criteria:

  • Registered and operating in Singapore
  • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
  • Have a minimum of 30% local shareholding; with Company's Group annual sales turnover less than S$100 million, OR less than 200 employees (for selected solutions only)

Eligible employers who fulfill the following criteria can also qualify for additional subsidies under the SkillsFuture Enterprise Credits (SFEC) scheme:

  • Have contributed at least S$750 Skills Development Levy over the qualifying period
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
  • Have not been qualified for SFEC at any of the earlier periods

How to apply?

Contact us to find out how you can leverage on this PSG scheme. We will arrange the partner to follow up for you.

Here are the steps you can take when applying for PSG:

Visit GoBusiness Gov Assist to access the list of supportable solutions 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 Grants Portal (BGP). You will need to register for a CorpPass account to transact on the portal.

Click here for a step-by-step guide, covering:

  • Application submission
  • Acceptance of Letter of Offer
  • Claim submission

FAQ on PSG

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Evolve your business with Sage 300. Claim up to 50% EDG support.

Overview

Today and into the future, companies that thrive are the ones that have strong business foundations and strategies, adopt technology and innovative processes, and grow their overseas presence.

The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars:

Core Capabilities

Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations. These should go beyond basic functions such as sales and accounting.

Innovation and Productivity

Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency. These could include reviewing and redesigning workflow and processes. Companies could also tap into automation and technologies to make routine tasks more efficient.

Market Access

Projects under Market Access support Singapore companies that are willing and ready to venture overseas. You may tap into the EDG to help defray some of the costs of expanding into overseas markets.



Who is eligible?

What does the EDG support?

The grant funds qualifying project costs namely third party consultancy fees, software and equipment, and internal manpower cost.

The maximum support level is now 50%.

Eligibility

To qualify for the EDG, you need to:

  • Be a business entity registered and operating in Singapore
  • Have a minimum of 30% local shareholding
  • Be in a financially viable position to start and complete the project

Applications will be assessed by Enterprise Singapore based on project scope, project outcomes and competency of the following criteria can also qualify for additional subsidies under the SkillsFuture Enterprise Credits (SFEC) scheme:

  • Have contributed at least S$750 Skills Development Levy over the qualifying period
  • Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period
  • Have not been qualified for SFEC at any of the earlier periods

How to apply?

Contact us to find out how you can leverage on this EDG scheme. We will arrange the partner to follow up for you.


Enquire nowLearn more about Sage IntacctLearn more about Sage 300