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For eligible pre-scoped solutions under the Food Services and Retail sectors, the PSG grant enhanced support level is up to 80% from 1 April 2022 to 31 March 2023.
(please refer to https://www.gobusiness.gov.sg/business-grants-portal-faq/psg-general/)
Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes.
(Please refer to https://www.enterprisesg.gov.sg/financial-assistance/grants/for-local-companies/skillsfuture-enterprise-credit)
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See our search marketing campaign results and hear what our customers have to say about engaging Digital M as their preferred marketing agency in Singapore.
Heysara HoldingHeySara is new-age digital company incorporation and corporate secretary service provider. As a new company in an already competitive industry, they needed to establish their brand name and increase their market share. Also, being a technology company themselves, they wanted to build their presence from scratch in the digital world.
Ng Su Kai
Aardwolf Pestkare Pte LtdAardwolf Pestkare is a leading pest management service provider in Singapore. They engaged us to increase their online presence as well as boost customer enquiries for the different services they provide. The only digital asset they had before we came on board was a basic website. So our objective was to increase their website ranking and use the right social media platforms to maximise their reach.
Rise & Grind Coffee Co.Rise & Grind Coffee Co. (RGC) is an Australian-inspired cafe in Singapore with a motto to provide only fresh and high-quality coffee and food to their clients. But being a competitive market with so many well-established players, they had to do something more to capture their audience’s attention. Hence, they reached out to us to help them promote their brand name. As a result, we curated a phase-by-phase digital marketing plan to ensure RGC becomes a well-known brand in Singapore.
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The Productivity Solutions Grant (PSG) is an annual financial grant of up to 70%, given to SMEs to encourage them to embrace IT solutions and equipment to streamline their existing processes and improve productivity. The grant is only applicable for the adoption of pre-scoped IT solutions, equipment and consultancy services from pre-approved PSG vendors.
There are two types of PSG solutions:
Sector-specific – Curated by sector lead agencies, aligned to industry roadmaps such as the Industry Transformation Maps (ITMs) and Industry Digital Plans (IDPs). These solutions are only for the companies within that specific sector.
Generic – These solutions are for all companies irrespective of the business sector or industry they belong to. The solutions help companies to improve their productivity in managing general business functions and processes.
For an SME to quality for the PSG grant under the current financial year, they need to submit their applications before 31 March of that year. At the start of each financial year, i.e. 1 April, the annual grant cap is refreshed.
The maximum support given under PSG is 70% for all sectors, expect for Food Services and Retail sectors. They can receive up to 80% support from 1 April 2022 to 31 March 2023.
While applying for the PSG grant, SMEs need to submit the following documents along with the duley filled application:
- A quotation from the pre-approved vendor for IT solutions
- Source for the equipment and get a quotation from the vendor for equipment.
After the SME receives the Letter of offer (LOF) they need to accept it and can deploy the services for the said duration. As PSG works on a reimbursement basis, you can claim for 70% of the package amount after the contract has ended and the final payment has been made to the vendor. You need to submit the following documents for the claims:
- Bank statement showing payment
- Purchase order or signed acceptance of
- Receipt or cheque
- Pictures of the licence number(s) of software
- Usage report of atleast one month
An SME can apply for more than one PSG grant provided the IT solution or equipment is deployed in a different location. PSG support is granted for only one package per solution category per deployment location.
The annual grant supported by EnterpriseSG per SME is $30,000 between 1 April to 31 March of every year. If a company fully utilises their annual grant cap, they can apply for grant for the new solution or equipment in the following period when the grant caps are refreshed.
Who is eligible for PSG?
SMEs that meet the below criteria are eligible for PSG:
- Business registered and operating in Singapore
- 30% local shareholding, AND
- Annual sales turnover of the Company’s Group should not be more than S$100 million, OR the employment size should be no more than 200 employees.
- The IT solution or equipment should be used in Singapore
- The entity type of the SME should not be any of the following:
- Charities, Institutions of Public Characters (IPCs)
- Religious Entities
- Voluntary Welfare
- Organisation (VWO)
- Government agencies and subsidiaries
The SMEs should also ensure that they don’t make any payment or sign a contract with the supplier, vendor or third party in relation to the purchase/lease/subscription of the IT solution or equipment before getting an approval. If they have, their application will be rejected, and they will not be eligible for the grant.