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How to Apply for PSG Grant – All Steps

To help businesses transform, the Productivity Solutions Grant (PSG) was launched in April 2018. PSG covers sector-specific solutions as well as solutions that cut-cross industries. Several government agencies have pre-scoped these solutions, including Enterprise Singapore, the National Environmental Agency (NEA), and the Singapore Tourism Board (STB). Companies interested in adopting technology solutions and equipment to enhance business processes are encouraged to apply for the PSG grant.

In order to encourage enterprises to continue upgrading their digitalization and productivity, the maximum level of funding support was raised from 70% to 80% from 1 April 2020. With the PSG grant, you can subsidize the costs of improving your business’s digital capabilities.

In this article, we will provide a step-by-step guide on how to apply for a grant.

Eligibility Criteria

Business entities can apply for PSG if they meet the following requirements:

  • A business entity that is registered/incorporated in Singapore,
  • Company does not fall under these categories – Charities, Institutions of Public Character (IPC), Religious Entities, Voluntary Welfare Organizations (VWO), Government agencies and subsidiaries,
  • IT solutions and equipment must be purchased, leased, or subscribed to in Singapore,
  • At least 30% local shareholding (for selected solutions only),
  • At the time of application, there should be at least three local employees (for consultancy service solutions only),
  • Group annual sales turnover less than S$100 million; or fewer than 200 employees (if you belong to a corporate group).

Documents Required

You will be expected to submit documents such as unsigned quotations and financial accounts as part of your PSG application. Different paperwork may be required depending on your company structure and when it is registered.

  • Company’s Financial Statements & ACRA Bizfile

Financial statements (FS) for the previous three years must be provided. (Other appropriate supporting papers, such as a projected income statement and to-date unaudited financial statement or management accounts certified by the company’s shareholder/director indicated in ACRA, may be sent for newly incorporated companies, i.e. less than one year).
If your company is part of a corporate group, you will be required to include the final corporate group financial statements for the past three years, an ACRA bizfile of holding companies and/or subsidiaries, and the corporate group structure in your submission.

You would also be required to send the complete SGX Shareholder report if your parent firm is a Singapore Exchange (SGX) listed entity.

  • Documents to request from the vendor

You will have to submit the following vendor-issued documents.
– Unsigned Quotation
Please keep the following in mind:
The quotation must be addressed to the grant applicant’s registered firm name in full as per the company’s ACRA Bizfile, short-form and/or alternative names will be rejected.
And, the grant applicant must not have signed the quotation or made any payment or depositions previous to the PSG application.
– Product Brochure and Technical Specifications (for equipment only)

  • Licensing requirements for certain sector-specific solutions

In order to apply for sector-specific solutions, you will need to provide the relevant licenses depending on your industry.
– Food
You’ll be required to submit your Singapore Food Agency (SFA) license for food-specific solutions. Under the PSG, all food retail enterprises must be licensed and supported.
– Security
You’ll be required to submit your Police Licensing & Regulatory Department (PLRD) license for security-specific solutions. At the time of application, this license must be valid and duly validated.

  • Tenancy Agreement & Home Office Licenses

You’ll be required to submit the tenancy location for the deployment site if you are distributing the solution to a non-ACRA registered address. Alternatively, you can provide proof of occupancy by submitting your utility bills.
Or, you will have to submit your Home Office Permit by the Housing Development Board (HDB) or Urban Redevelopment Authority if you are a home-based business under the Home Office Scheme (URA).

Your application may be denied or returned for revision if you do not follow the above instructions.

How To Apply

To apply for the PSG, you just have to follow these three easy steps:

  1. Visit our Compare Vendors page to access the list of supportable solutions eligible for your restaurant sector and identify the ones that are most appropriate for your business.
  2. Apply for a business grant through the Business Grants Portal (BGP).
    To transact on the site, you must first create a Corppass account.
  3. Before your grant claim due date, submit your grant claim to the BGP.

Supportable Solutions

Retail, food, logistics, precision engineering, wholesale, building and construction, financial services, and landscaping are among the industries covered by PSG. Additionally, it also encourages companies to implement broad-based solutions that span several industries, such as Customer Relationship Management and Human Resource Management systems.

There is a list of pre-scoped solutions based on a company’s sector. Use the navigation menu to find the IT solutions/equipment/consultancy service that is applicable to your company.

NOTE: The Productivity Solutions Grant recipients’ solutions are analyzed on a regular basis. Keep in mind the existing support levels and grant limits.

SME owners who wish to use IT solutions and equipment for their business operations can apply for Singapore’s PSG grant. As part of its portfolio of IT solutions, PSG provides solutions for industries including retail, construction, food, as well as solutions for business management, processes, and systems, including customer management, inventory management, and financial management.

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