Going digital can be truly overwhelming. But doing so might be the safest and the smartest option in the midst of the Covid-19 pandemic. In an ever-growing and highly-competitive world we are in, keeping yourself ahead of the competition is crucial for business success. In this case, switching from traditional to digital marketing through the help of Productivity Solutions Grants (website PSG grant) can be your best bet.
Business digitalisation is not always about costly solutions and complex interfaces. To help small and medium-sized enterprises (SMEs) on this digital transformation, the Singapore government has launched the Productivity Solutions Grants (website PSG grant).
What is Productivity Solutions Grant (Website PSG Grant)?
The Productivity Solutions Grant or simply (website PSG grant) is a government initiative that enables SMEs to embark on digital transformation resulting in maximized productivity and enhanced business processes.
Website PSG grant supports sector-specific solutions including retail, food, logistics, precision engineering, construction and landscaping industries. Apart from this, the eCommerce PSG grant also covers the adoption of other solutions such as customer management, quality assurance, data analytics, financial management and inventory tracking that cut across all sectors.
From 1 April 2022 onwards, the maximum support level will be up to 70%. For eligible pre-scoped solutions, enhanced support level of up to 80% will be extended from 1 April 2022 to 31 March 2023 for Food Services and Retail sectors.
Digital-media has proven its worth as one of the most powerful marketing tools there is. An efficient and consistent online presence can greatly contribute to even higher profits and wider customer reach. This is where the need for Productivity Solutions Grant (eCommerce PSG grant) comes into play.
What Businesses Can Expect from Website Productivity Solutions Grant (Website PSG grant)?
Through the help of the website PSG grant, SMEs can now benefit from the long-term technology investments. While social media such as Facebook and Instagram can now serve as businesses’ advertising platforms, having a well-curated website and a powerful marketing strategy are still necessary. With the website PSG grant’s readily-available solutions that made automated transactions possible, SMEs can now serve their clients accurately and efficiently. Faster and smoother transactions only mean a remarkable buying experience for your consumers and higher profits for your business.
What are the Benefits of Website Productivity Solutions Grant (Website PSG Grant) to Small and Medium-Sized Enterprises?
Besides the long-term advantages that website PSG Grant can offer, there are still a lot of reasons why SMEs should take advantage of this programme:
Website PSG Grant is a government initiative.
Digital marketing can be costly and time-consuming. Fortunately, Singaporean business owners don’t have to face this struggle alone. The government understands the challenges associated with digital transformation, thus, the Productivity Solutions Grants (eCommerce PSG grant).
Given that the eCommerce PSG grant is a government initiative, it’s safe to say that your business is in good hands.
The application for the website PSG Grant is free.
With Productivity Solutions Grants (website PSG grant) in place, switching from traditional to digital marketing can be made easy and affordable. From the free application to providing financial support on quality IT solutions suitable for your business, the possibilities are endless.
Frequently Asked Questions When Applying for the Productivity Solutions Grant (eCommerce PSG grant)
Who can apply for the Productivity Solutions Grant (eCommerce PSG grant)?
The eligibility requirement for the website PSG grant is quite simple:
- SMEs that are registered and operating in Singapore.
- Purchase, lease or subscribe to IT solutions within Singapore.
- For selected solutions, a minimum of at least 30% local shareholding is required.
- Annual turnover should not exceed $100 million.
- Less than 200 employees.
What are the requirements needed for the application of the Productivity Solutions Grant (Website PSG grant)?
If eligible, the next thing business owners should think about is the preparation of the legal supporting documents. Here’s a list of important documents required for website PSG grant application:
- A purchase order or a signed quotation/contract
- An invoice
- Screenshots showing the company’s name and the name of your chosen IT solution.
- A bank statement proving that a payment was made.
- A copy of the receipt or cheque payment.
- The licence number of the software with a minimum of one-month usage report
Is it possible to claim the IT solutions before the date of application for the Productivity Solutions Grant (eCommerce PSG grant)?
Unfortunately, no. IT solutions can only be claimed after the application date under the Productivity Solutions Grant (website PSG Grant). In addition to this, make sure to submit your application first before signing the contract, the invoice or the quotation letter, before making your payment to your IT solutions provider, and before starting off with the project itself.
How to apply for the Productivity Solutions Grant (Website PSG Grant)?
Before the application for the Productivity Solutions Grant (website PSG Grant), visit the list of supportable IT solutions and equipment which can be found on the Tech Depot website. Once you’ve picked your desired solutions, you’ll be required for a quotation from a pre-approved vendor that can provide the solutions you need.
Finally, you’ll need to register your company and set up a CorpPass account on the Business Grant Portal (BGP) for your eCommerce PSG grant application.
Follow the steps below for an easy Productivity Solutions Grant (Website PSG Grant) application:
- Step 1: Login to Business Grant Portal (BGP). Click on the Register for CorpPass tab then enter the details needed.
- Step 2: Once done, go back to the homepage and click Login with CorpPass tab. Simply enter your CorpPass credentials (the entity ID, CorpPass ID and password).
- Step 3: After you login, you will be redirected to Business Grant Portal (BGP). Click on Get New Grant.
- Step 4: The Select Sector will be displayed. Select which sector best describes your business. You can choose from various options such as Agriculture, Food and Beverages, Landscape, Maritime, and a lot more.
- Step 5: After selecting which sector best describes your business, the Select Grant will be displayed. Choose the second option that states Upgrade key business areas, such as adopt technology, improve business processes or raise service standards.
- Step 6: The Apply for Grant section will be displayed. Choose the option that best describes the area you will develop with this grant. Click the first option that states Pre-scoped Productivity Solutions.
- Step 7: The Grant Actions will then be displayed. Read it carefully and click the Proceed button.
- Step 8: Check your Eligibility status and answer the question correctly. Click Next.
- Step 9: Fill in your Contact Details. Click Next.
- Step 10: On the Proposal tab, choose the type of solution you want to purchase. Click IT Solution. Fill in the information needed then click Next.
- Step 11: On the Cost tab, key in the purchase price that includes the delivery, installation and training charges. Click Next.
- Step 12: The Business Impact tab will be displayed. Explain briefly how the solution can affect your business. Click Next.
- Step 13: On the Declare & Review tab, declare and acknowledge the terms for this grant. Click on the Review button.
- Step 14: For the final step, review the items thoroughly and check if all the details are correct. Click the Submit button. You have successfully applied for the Productivity Solutions Grant (eCommerce PSG grant)
What are the accepted payment terms for the eCommerce PSG grant application?
Most standard payment terms such as bank transfer and cheque payment can be used for the Productivity Solutions Grant (website PSG Grant) claims. Credit card payments can also be made given that the owner of the card is the sole proprietor. For corporate entities, an official document declaring that the expenses were used solely for the company is required. Reimbursement to the owner of the card who made the payment will be needed as well.
When can I claim the expenses I have made under the Productivity Solutions Grant (Website PSG Grant) ?
Claims must be submitted on the following dates:
- After the solutions are all used
- Once the expenses are all paid
- Before the 13th-month after the purchases have been approved
- Before the 7th-month after the approval of all hire purchases, leases and subscriptions
Are there any limitations on the number of Productivity Solutions Grant (eCommerce PSG grant) applications?
Application for more than one solution under the Productivity Solutions Grant (eCommerce PSG grant) is allowed given that each solution is deployed in a different location.
For the Enterprise Singapore (ESG) supported applications, a grant cap of $30,000 for each enterprise is given between 1 April to 31 March of each year.
Make sure to choose the best solution that suits the needs of your business.
Is it possible to revise the vendor quotation for additional complimentary items/services?
Unfortunately, no. Although it is better to have a customised quotation for each business entity, revising customer quotation is not possible. The package submitted to the Productivity Solutions Grant (website PSG grant) should match your quotation. Non-approved quotations will automatically be rejected.
Additional items or services will be quoted separately and will be subject to IMDA approval.
Can I ask the pre-approved vendor to process the Productivity Solutions Grant (website PSG grant) application on my behalf?
All business entities are required to submit and process their own eCommerce PSG grant application. Fortunately, you don’t have to worry as much as our sales representatives can guide you throughout the entire application process.
Productivity Solutions Grant (Website PSG grant): List of Other Government Grants in Singapore
Aside from the Productivity Solutions Grant (eCommerce PSG grant), there are other government grants business owners in Singapore can take advantage of. Below are some of them:
Digital Resilience Bonus (DRB)
Compared with the eCommerce PSG grant Digital Resilience Bonus (DRB) aims to support enterprises, particularly the Food Service and Retail sectors, to develop efficient and stronger digital capabilities.
As Singapore gradually adapts to the “new normal,” gradually opening its economy, safe, efficient and sustainable management efforts should be in place. For SMEs in the Food Services and Retail sector, Digital Resilience Bonus (DRB) cover the following digital solutions to help you thrive in these trying times:
- e-Payment (PayNow Corporate) and e-Invoicing
- Accounting and HR/payroll solutions
- Digital Ordering for dining in and takeaways
- Inventory Management
- e-Commerce, e-Procurement and Food Delivery Platforms
Eligibility requirement for the Digital Resilience Bonus (DRB):
- UEN should fall under Food Service or Retail sector
- UEN should be incorporated on or before 26 May 2020
- UEN should have an active PayNow Corporate account.
- UEN should be on the Peppol e-invoicing network
SkillsFuture Enterprise Credit (SFEC)
SkillsFuture Enterprise Credit (SFEC) aims to encourage employers to embark on enterprise and workforce transformation. Eligible businesses can benefit from a one-off $10,000 credit per business entity to cover up to 90% out-of-pocket expenses provided they take on supportable enterprise development and workforce transformation initiatives.
Enterprise transformation programmes include:
- Enterprise transformation programmes include:
- Enterprise Development Grant (EDG)
- Enterprise Leadership for Transformation (ELT)
- Market Readiness Assistance (MRA)
- Productivity Solutions Grant (eCommerce PSG grant)
Workforce transformation programmes include:
- Skills Framework-aligned courses
- Professional Conversion Programme
- Place-and-Train Programme
- Job Redesign initiatives
Eligibility requirement for SkillsFuture Enterprise Credit (SFEC):
There are four qualifying periods:
- 1 April 2019 – 31 March 2020
- 1 July 2019 – 30 June 2020
- 1 October 2019 – 30 September 2020
- 1 January 2020 – 31 December 2020
Employers should meet the following requirements in each of the qualifying periods:
- Must have at least $750 contribution over the period
- Must have at least three Singaporean Citizen (SC) or Permanent Residents (PR) employed every month over the same period
- Must have not qualified at any of the earlier periods
SMMILE: Up to 98% Grant Support for Your eCommerce Website
In today’s technology-dependent era, adapting to digital transformation and investing in efficient and powerful digital marketing strategies are crucial for business success. We at SMMILE can help you build and innovate your business in a digital world the best way possible.
Ready to embark on digital transformation? Let’s make it happen! Find out more at our website smmile.com or email us at email@example.com