Q. What is Productive Solutions Grant (PSG)?
A. Productivity Solutions Grant is a program under the Environmental Services Industry Transformation Map (ES ITM) designed to augment the operational efficiency and productivity of the ES industry through technology adaptation.
Q. What does Productivity Solutions Grant (PSG) cover?
A. PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction, and landscaping industries.
Q. Am I eligible to apply for a Productivity Solutions Grant (PSG)?
A. If you have a Singaporean Small and Medium Enterprise (SME) looking to continue your digitalization and productivity upgrading efforts and you meet the criteria below, then yes you can.
- The business should be registered and operating in Singapore.
- Have at least 30% local shareholding.
- Company’s Group Annual Sales Turnover of not more than S$100 million, or Company’s Group Employment Size of not more than 200 workers.
- Purchase / lease / subscription of the IT solution(s) or Equipment(s) should only be used in Singapore.
- The company must not have made any payment and signed any contract with a supplier, vendor, or third party concerning the purchase/lease/subscription of the equipment or IT solution.
Q. What benefit do I acquire if I apply for this grant?
A. Once your application is approved, the funding support will be raised to 80% of the qualifying cost from the 1st of April 2020 until the 31st of December 2020.
Q. Where can I get information on equipment and pre-approved IT solutions?
A. You may see the full list on Tech Depot.
Q. What are the documents required to be able to apply for PSG?
A. The documents needed are as follows:
- Purchase Order or Quotation Contract
- An invoice
- Screenshots showing the company’s name and the name of an IT solution.
- License number(s) of software with a minimum of one-month usage report
- Receipt or copy of cheque payment
- Bank statement showing the payment.
Q. How do I apply for the Productivity Solutions Grant (PSG)?
A. To apply for the PSG, you will have to:
- Visit Tech Depot to access the list of supportable solutions and identify which solution is applicable to which you want to acquire.
- Get quotations from a vendor and it must be unsigned. IT solutions and vendors have been pre-qualified under this grant.
- Not have signed any contract or made payment before submitting the PSG application.
- Once you have collated all necessary documents, submit your application to Business Grant Portal (BGP). Remember to have a CorpPass account to transact with BGP.
Q. How to apply for Productivity Solutions Grant (PSG)?
A. Just the follow the steps below:
- Log in to Business Grant Portal
- Go to My Grants tab
- Click on “Get new grant”
- Select Sector that best describes your business
- In this “I need this grant/permission to” section, choose the “Upgrade key business areas, such as adopt technology, improve business processes or raise service standards” option. After that click Next.
- You’ll be asked “which best describes the area you will develop with this grant?”, choose “Pre-scoped Productivity Solutions”. Then hit Next.
- Now, for eligibility, mark ‘Yes’ if you meet the criteria for eligibility.
- Next, key in your contact details or the main contact person.
- Then fill in details of the Letter of Offer addressee.
- Submit your proposal. Don’t forget to answer all * mandatory fields.
- Indicate what type of solution you are purchasing.
- Next, select a vendor and fill in details of the equipment of the IT solution.
- Click ‘Select Files’ to upload supporting documents such as the quotation from the vendor.
- Fill in your deployment location.
- Provide details of costs.
- Fill in details of overall impact and productivity gains.
- Complete the declaration section.
- Read the consent and acknowledgement, tick the box.
- Review your application and click ‘Submit’.
Q. What is the processing time for applications?
A. Applications are processed within 4-6 weeks from the submission of all required information/documents.
In summary, Productivity Solutions Grant (PSG) is crafted for small-medium enterprises who want to invest in digital technology to help them gain more profit, be efficient and effective. With funding support of up to 80% of the qualifying cost once approved, we’ll definitely help every business entity to make progress in the digital world. Just make sure that when you apply for PSG, all details declared are true; it’s also free to apply.
Contact Verz Design, pre approved vendor for psg today to schedule a consultation, where our experts will help to assess your eligibility to apply for the SMEs Go Digital initiative and receive up to 80% funding from the PSG and SFEC.