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Productivity Solutions Grant (PSG)

Productivity Solutions Grant (PSG) Overview

Unlock the potential of your SME with the Productivity Solutions Grant (PSG), a flagship scheme that encourages businesses to adopt innovative IT solutions to boost productivity. Effective from April 1, 2023, businesses can access funding support of up to 50%.

This grant primarily supports a spectrum of IT solutions, focusing on software licences, subscriptions, initial configurations, data transition, and educational programs.

SMEs are eligible for up to 50% Productivity Solutions Grant (PSG) support for the adoption of Xero Accounting Package, a Pre-Approved Solution under the IMDA SMEs Go Digital programme.

Who is Eligible for PSG?

PSG is tailored for SMEs that:

  • Registered and operating within Singapore.
  • Intend to implement the IT solutions exclusively in Singapore.
  • Have a minimum local shareholding of 30% and an annual sales turnover not exceeding S$100 million, or employ fewer than 200 individuals.

Application Process for PSG

The process to apply for PSG is straightforward:

  1. Quotation: Acquire a quote for the IT solution that has been pre-approved.
  2. Submission: Apply online through the Business Grants Portal, noting that acceptance of the quote is not required at this initial stage.
  3. Implementation: While awaiting approval, proceed with the purchase, setup, and usage of the IT solution.
  4. Approval and Claim: Approval usually takes about 4 to 6 weeks, with most applications being successfully granted. Following approval, submit your claim online to receive the funding.

Software Solutions Supported by PSG

For PSG applications, it is mandatory to engage with IMDA pre-approved vendors. Our firm is a pre-approved vendor for Xero software, ensuring that we offer top-tier, supported solutions tailored to your needs.

Our expert guides are here to help you navigate the PSG application and claim process seamlessly. For further assistance and a more detailed walkthrough, feel free to reach out.

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