18 February, 2019
If you are wondering what are the government grants that you can apply to transform your business digitally, you are now reading the right article. There are 2 grants that you should be understand more, PSG (productivity solutions grant) and EDG (enterprise development grant).
PSG grant covers both general and sector-specific solutions such as accounting, financial management, inventory management, retail, food, construction and others. These solutions have been pre-scoped and pre-approved by government agencies such as IMDA (Info-communications Media Development Authority). With up to 50% funding support, PSG serves as an avenue for companies to make long-term technology investments. You can only apply PSG for pre-approved solutions such as Xero and ABSS Accounting Solution by 361 Degree Consultancy Pte Ltd, hence, not all software vendors are qualified under PSG.
Who can Apply PSG Grant
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 30% local shareholding with Company’s Group annual sales turnover less than S$100 million, OR less than 200 employees(for selected solutions only)
How to Apply PSG Grant
Here are the steps you can take when applying for PSG:
- Get a quotation of Xero or ABSS Accounting Software from us, and submit application online. No commitment is needed from you, if the application is not approved, you may simply choose not to purchase and there is no obligation at all.
- It takes about 2 to 3 weeks for the grant to be approved. You will receive a letter of offer stating the application is successful as well as the subsidy amount.
- Sign the quotation now! Start implementing either ABSS or Xero Accounting software solution and make full payment. You have to complete the project within 6 months.
- Submit the claim and you should receive reimbursement from government in about 2 months time.
Still having doubts? Why not contact one of our friendly consultants to have a complimentary assessment on your eligibility to apply for the grant! Please click here for our contact details.