Productivity Solutions Grant
Productivity Solutions Grant (PSG)
The Productivity Solutions Grant (PSG) supports SMEs that are keen to improve their productivity by adopting pre-approved IT solutions to enhance business processes. With effect from 1 April 2023, the Productivity Solutions Grant (PSG) funding will be reduced to 50% from 70%. Businesses that apply for PSG before 31 March 2023 will still be entitled up to 70% funding.
The PSG supports pre-approved software solutions which include the software license, subscription, setup, data migration and training. Equipment is also supported under PSG grant but it is limited to a few industries such as Food & Beverages (F&B) and environmental services.
WHAT IS COVERED?
There are 3 main categories of pre-approved solutions as follow:
- General solutions such as Accounting, HR, Customer Management & Inventory Tracking.
- Sector-specific solutions such as POS, Fleet management etc.
- Covid-19 business continuity solutions such as virtual meeting tools, queue management systems and temperature screening solutions. (expired on 31 December 2020).
For more info on SMEsGoDigital, it can be found here.
WHO CAN APPLY?
SMEs can apply for PSG if they meet the following criteria:
- Registered and operating in Singapore
- Purchase/subscription/lease of the IT solutions must be used in Singapore
- Have a minimum 30% local shareholding with Company’s Group annual sales turnover less than S$100 million, OR less than 200 employees
HOW TO APPLY?
- Obtain a quotation for the pre-approved IT solution
- Submit the PSG application online via Business Grants Portal. SMEs NEED NOT accept the quotation at this stage.
- Once the application has been submitted, you may purchase, setup and start using the IT solution while waiting for approval.
- PSG applications will be approved in about 4 to 6 weeks usually. Most approvals are successful, but not guaranteed.
- Submit your claim online to receive the approved funding.
SOFTWARE SOLUTIONS SUPPORTED UNDER PSG
We are a software agnostic firm that will only recommend the most suitable and value-for-money solutions for you. You can only apply for PSG with IMDA pre-approved vendors and we are a pre-approved vendor for Xero and ABSS.
Pre-Approved Accounting Solutions
ABSS Accounting Software (FKA MYOB Software)
We partner with a wide range of solution providers to offer you the best package with government funding.
HR Solutions
POS Solutions
Need help with your PSG Application and Claim process?
Check out our guides here:
Productivity Solutions Grant: Frequently Asked Questions (FAQ)
No. You can only apply for PSG with IMDA pre-approved vendors. Currently, we are a pre-approved vendor for Xero and ABSS. However, we are working with our wide network of partners to bring you more choices and solutions supported under PSG.
We understand the needs of every business are unique. Unfortunately, PSG only supports pre-approved packages. Having said this, we do have different packages for Accounting, Payroll, Point-of-sales, and e-commerce available to suit different needs. Send us questions using the chatbox on the side or email us at enquiry@361dc.com.
You can only enjoy PSG funding through pre-approved Xero vendors like us. We offer unbiased recommendations based on your needs and we have trusted expertise in delivering value-added services for you, such as setup, data migration, personalized training, support and even accounting-related services.