The Productivity Solutions Grant (PSG) was launched on April 2018 to assist businesses in their transformation journey.
For a start, PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries. Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.
These solutions have been pre-scoped by various government agencies such as Enterprise Singapore, National Environmental Agency (NEA) and Singapore Tourism Board (STB).
The maximum funding support level was raised from 70% to 80% from 1 April 2020 to 31 March 2022 to encourage enterprises to continue their digitalisation and productivity upgrading efforts.
Who can apply?
Business entities can apply for PSG if they meet the following criteria:
- Registered and operating in Singapore
- Purchase/lease/subscription of the IT solutions/equipment/consultancy service must be used in Singapore
- Have a minimum of 30% local shareholding
- Company’s Group annual sales turnover less than S$100 million, OR less than 200 employees
For start-ups with less than 6 months of operating period can still apply for PSG, subject to an assessment by Enterprise Singapore (ESG).
Is there a cap to the number of packages or applications for each SME?
SMEs may apply for more than one solution under the PSG but the deployment location of each solution must differ.
Grants for applications supported by Enterprise Singapore (ESG) are capped at $30,000 for each business entity between 1 April to 31 March of every year.
When is the ending date to apply for the PSG grant?
As recently announced in the Singapore Budget 2021, the maximum support of 80% has recently been extended and the new ending date to apply is 31 March 2022.
For more details please refer to Enterprise Singapore website at www.enterprisesg.gov.sg