- 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.
The Productivity Solutions Grant (PSG) supports SMEs that are keen to improve their productivity by adopting pre-approved IT solutions to enhance business processes. From 1 April 2023 onwards, the maximum funding will be up to 50% 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.
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.
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
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.
Core Capabilities
Projects under Core Capabilities help businesses to prepare for growth and transformation by strengthening their business foundations. These go beyond basic functions such as sales and accounting.
Innovation and Productivity
Projects under Innovation and Productivity support companies that are exploring new areas of growth, or looking for ways to enhance efficiency. These include reviewing and redesigning of workflow and processes. Companies can also tap into automation and technology to enhance the efficiency of routine tasks.
Market Access
Projects under Market Access support businesses that are exploring to venture overseas. The EDG can help to defray some of the cost incurred when expanding into overseas markets.
*Note: As of 1 April 2020, all applications for EDG should include commitment to worker outcomes as part of the qualifying requirements. This will include wage increment, job creation, job redesigns or training for existing staff.
Qualifying project cost that is related to software and equipment, third party consultancy and internal manpower can be supported. As announced during the Supplementary Budget 2020, for the period 1 April 2020 to 31 December 2020, the maximum level of support will be enhanced to 80%. For businesses that have been very badly affected by the COVID-19 pandemic, the maximum level of support may even be raised to 90%, depending on a case-by-case review.
To qualify for EDG, companies must fulfil the following conditions: -Be registered and operating 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 -Be in a financially viable position to start and complete a project Should you require more information on the application process for the Enterprise Development Grant, please contact Woon at 9824 1643 or email woon@361dc.com.
1. FWA Incentives (Up to S$70,000)
2. Job Sharing Incentives for PMETs (Up to S$35,000)
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.
