The productivity solutions grant (PSG) by EnterpriseSG is a valuable initiative by the Singapore government to help businesses enhance productivity through its solutions.
This comprehensive guide provides a step-by-step process on how to apply eligibility criteria, benefits, and answers to frequently asked questions, empowering your business to leverage PSG for growth.
The Productivity Solutions Grant (PSG) is a government initiative by Enterprise Singapore (ESG) aimed at helping businesses in Singapore adopt IT solutions and equipment to enhance productivity.
It offers funding support to cover a portion of the qualifying costs, making it easier for businesses to invest in pre-approved digital solutions.
The PSG covers a wide range of IT solutions and equipment across various sectors.
The support levels and maximum funding amounts vary depending on the specific solution and the size of your business.
Here’s a breakdown of what PSG covers:
This includes sector-specific and generic software solutions, such as accounting software, CRM systems, HR platforms, e-commerce tools, and more.
PSG also supports the purchase of equipment necessary for you to use the IT solution, such as laptops, servers, and specialized industry-specific equipment.
Engage consultants to help with feasibility studies, system analysis, solution design, prototyping, testing, training, and project management related to the implementation of the IT solution.
To apply for Productivity Solutions Grant (PSG), simply follow 8 steps:
Under the PSG, businesses can receive funding support of up to 50% of the qualifying costs.
The grant amount varies based on the specific solution being adopted.
To be eligible for the PSG, your business must meet the following criteria:
Obtaining a PSG grant can provide your business with several key benefits:
Implementing IT solutions can streamline operations, automate tasks, and improve efficiency, ultimately leading to increased productivity.
Adopting new technologies can help your business stay ahead of the competition by improving product quality, customer service, and operational efficiency.
The grant helps offset the costs of implementing IT solutions, making it more affordable for businesses to invest in technology upgrades.
Improved productivity, efficiency, and competitiveness can contribute to overall business growth and expansion.
PSG supports businesses in embracing digital transformation, which is crucial for long-term sustainability and success in today’s digital economy.
Carefully research the available pre-scoped solutions and choose the ones that best address your business needs and challenges.
Ensure your business meets all the eligibility criteria before starting the application process.
Obtain quotations from multiple pre-approved vendors to compare pricing and services.
Prepare all required documents accurately and ensure they are submitted on time.
Track your application status and respond promptly to any requests for additional information from ESG.
MediaPlus Digital is an IMDA pre-approved PSG vendor with 100s of completed projects under our scope. We’ve helped and assisted numerous clients with their PSG applications and the application submission process.
If you’re interested in generating more business leads from online marketing channels like Google, Facebook and Instagram, check out our PSG Digital Marketing Grant. Eligible companies get to enjoy 70% funding support from EnterpriseSG. Find out more today!
And if you find your company website is getting old and needs a revamp, we offer PSG Grant as well. Let us know!
The PSG is a valuable opportunity for Singaporean businesses to embrace technology and boost productivity.
By understanding the grant’s scope, eligibility requirements, and application process, you can effectively leverage this funding to drive your business growth and enhance your competitiveness in the market.
The maximum funding amount depends on the specific solution and the size of your business.
Generally, businesses can receive up to 50% funding support, with a maximum quantum of $350,000 per company.
Yes, you can deploy the PSG solution in a residential area if it aligns with the required PSG solution and complies with HDB/URA guidelines for home-based businesses.
Yes, you can apply for multiple PSG-eligible projects concurrently, but the total grant funding you receive is still capped at $350,000.
The typical processing time for PSG applications is 4-6 weeks.
You will be notified of the application outcome via email. If approved, you will receive a Letter of Offer.
The PSG grant is disbursed to your company’s bank account via GIRO or PayNow Corporate after you have submitted a claim and it has been approved.
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