In today’s fast-paced digital landscape, staying competitive means staying productive. The Productivity Solutions Grant (PSG) is a powerful government initiative designed to support small and medium enterprises (SMEs) in Singapore as they adopt pre-approved digital solutions and equipment to enhance their productivity and streamline business operations.
Whether you are looking to digitize your operations, automate your processes, or improve customer engagement, the PSG grant can help reduce the financial burden of implementing effective tech solutions.
What is the PSG?
The Productivity Solutions Grant (PSG) provides funding support for the adoption of pre-approved IT solutions and equipment that enhance productivity. The grant subsidizes up to 50% of qualifying costs, with a cap of S$30,000 per company per financial year.
PSG focuses on helping businesses adopt ready-made, off-the-shelf solutions that are proven to improve operational efficiency. These solutions are tailored to specific industries or are generally applicable across various sectors.
Benefits of the PSG Grant
Here’s how the PSG can benefit your business:
✅ Reduced Costs for Digitalisation
The PSG helps you offset the cost of adopting technology by funding up to half of the implementation cost. This makes the adoption of digital tools more affordable, especially for smaller businesses.
✅ Pre-Approved, Trusted Solutions
All solutions under the PSG are vetted and pre-approved. You don’t have to worry about product quality or vendor credibility – they’ve already passed the checks.
✅ Faster Implementation
The solutions are ready-to-use and can be deployed quickly, allowing your business to enjoy immediate improvements in productivity.
✅ Sector-Specific Support
The grant caters to a range of industries such as retail, food & beverage, logistics, construction, precision engineering, and more. There are also generic solutions that apply across sectors.
What Types of Solutions Are Supported?
The PSG supports two main categories:
1. Sector-Specific Solutions
These are solutions designed to address the needs of specific industries. Examples include:
- Point-of-Sale (POS) systems for retail and F&B
- Inventory tracking systems for logistics
- Job scheduling and dispatch systems for field service businesses
- Digital menus and e-ordering systems for restaurants
2. Generic Solutions
These are widely applicable across industries and help with day-to-day business functions:
- Accounting and invoicing software
- Human Resource Management Systems (HRMS)
- Customer Relationship Management (CRM) tools
- Project management and collaboration tools
- Digital marketing and e-commerce platforms
All these solutions are pre-approved by the authorities, ensuring that only tried-and-tested tools are supported under the scheme.
PSG Grant Eligibility Criteria
To qualify for the PSG, your business must meet the following conditions:
- ✅ Registered and operating in Singapore
- ✅ At least 30% local shareholding (Singaporean or PR)
- ✅ Company has no more than 200 employees or an annual turnover not exceeding S$100 million
- ✅ The IT solution or equipment must be used within Singapore
As long as your business meets these basic criteria, you are eligible to apply for the PSG.
Application Process for PSG Grant
The PSG grant process is straightforward but requires careful preparation. Here’s how it works:
Step 1: Identify a Pre-Approved Solution
Browse through the list of available PSG-supported solutions and choose the one that matches your needs. Ensure the vendor is pre-approved.
Step 2: Request a Quotation
Reach out to the vendor and request an official quote. Make sure the quote aligns with the pre-approved package specifications.
Step 3: Submit Your Application Online
Log into the Business Grants Portal with your company’s CorpPass. Submit your application, uploading the quotation, your company profile (ACRA), and any required documents.
Step 4: Wait for Approval
Once submitted, the application typically takes a few weeks to be reviewed. You will receive a Letter of Offer if your application is successful.
⚠️ Important: Do not make any payment or sign any agreement with the vendor before receiving the official approval. Doing so may disqualify your application.
Step 5: Purchase & Implement the Solution
After receiving approval, proceed to make payment and start implementing the solution. Work closely with the vendor to complete the project.
Step 6: Submit Your Claims
Once the solution is fully implemented, submit a claim through the same Business Grants Portal. You’ll need to provide:
- Invoice(s)
- Proof of payment
- Screenshots or documents showing that the solution has been deployed
- A short report or summary of the project implementation
PSG Annual Grant Cap
Each business has an annual PSG grant cap of S$30,000, which resets at the start of the new financial year. This cap encourages businesses to plan strategically and prioritise the most impactful solutions.
Why Use PSG?
Businesses across Singapore are embracing technology to stay competitive, agile, and efficient. The PSG grant is your opportunity to:
- Cut costs while adopting modern solutions
- Keep up with industry best practices
- Improve customer experience
- Automate time-consuming tasks
- Strengthen business resilience
Whether you’re upgrading your F&B POS system or implementing cloud accounting software, PSG can help ease the burden of upfront costs and accelerate your transformation.
We Make the PSG Application Easy
Navigating grant requirements, compiling documents, and managing deadlines can be overwhelming. That’s where we come in.
We help SMEs in Singapore take full advantage of the PSG by:
- Recommending the most suitable solutions
- Connecting you with pre-approved vendors
- Preparing and submitting your application
- Assisting with claims after implementation
- Ensuring compliance to avoid rejection
Let us handle the paperwork so you can focus on growing your business.
Start Your Productivity Journey Today
If you’re ready to improve your business performance through digitalisation, the PSG grant is the perfect starting point. Take action now and start leveraging powerful tools with government support.
Want to learn more or get started with your PSG application?
Contact us today and our consultants will guide you through every step of the process.