Singapore is home to a diverse range of enterprises. It has embraced these firms, and in exchange, these enterprises have served as the backbone of its thriving economy. Singapore has businesses of various sizes. That is why Singapore offers assistance, particularly to small and medium-sized businesses.
Singapore assists these firms by providing health via several types of subsidies. Grants might be monetary or in the form of assistance in eCommerce website development PSG. The productivity solutions award is one of the most popular awards since it includes IT solutions.
Note that Singaporean SMEs will also be provided a $10,000 SkillsFuture Enterprise Credit for business or workforce transformations. Find out if you qualify here.
What is PSG?
As previously stated, this is a grant focusing on technological solutions. It was founded in April 2018 to assist companies such as SMEs in their business journey. It assists businesses in implementing innovative technological solutions and strategies.
The productivity solutions grant provides firms with technical solutions, equipment, and even consulting services. It seeks to boost efficiency and harmonize various industry roadmaps via the use of technologies. It, for example, aids in the PSG eCommerce development software.
The current financing plan for the productivity solutions award is up to 50%. This current tariff may be utilized by small and medium-sized businesses to develop PSG eCommerce development websites until March 31, 2022[1]https://www.enterprisesg.gov.sg/financial-assistance/grants/for-local-companies/productivity-solutions-grant.
However, the grant would be subject to your company’s grant maximum. This cap may be verified using the business grants site to confirm your current status.
Who is eligible to apply?
Many firms want to apply for and get the Productivity Solutions Grant because it is so comprehensive and beneficial. Some of the conditions that must be satisfied in order to be considered for the eCommerce website development PSG are listed below.
- The first need is for the firm to be registered in Singapore. The aforementioned firm should also be functioning inside the nation.
- The organization should also be interested in acquiring IT solutions for usage in Singapore. For example, a Singaporean companies needs to use its new eCommerce website to sell to Singaporean consumers if it’s developed under the PSG Grant.
- The interested firm must also have a minimum of 30% local ownership. Annual revenue should also be less than $100 million, with little more than 200 staff.
The last requirement guarantees that grantees or small and medium companies are really in need of assistance. If you match the requirements outlined above, you may apply for a grant to assist you in eCommerce website development PSG.
How do I apply?
#1 Log in to your account
The first step in applying for the website eCommerce development PSG is to log into your account on the Business Grants Portal[2]https://www.businessgrants.gov.sg/. This initial phase will assist you with obtaining the funding and eCommerce website development PSG.
When you are already on the Business Grants Portal website, go to the ‘My Grants’ option to begin the procedure. You may view the grant possibilities by clicking on the Get a New Grant button.
#2 Select the appropriate company sector and grant type
During this phase, it is critical to reveal the industry sector that best meets your company’s needs. This allows Singapore to properly analyze and handle your application.
You must enhance important company areas such as technology. This may imply that you need assistance in eCommerce website development PSG. After that, you must pick the ‘Pre-scope Productivity Solution’.
#3 Fulfilling the qualifying requirements
When applying for the productivity solutions award, you must meet the criteria outlined on this page. You may only choose ‘Yes’ if all of the prerequisites are satisfied. These credentials are the same as those listed above.
#4 Fill in the blanks with the right information
Following that, it will request your contact information and other information. False information or contact data may result in disqualification. It is also critical to provide the contact information for the application’s principal contact person.
#5 Submitting the proposal
You must submit a proposal to be eligible for the website eCommerce development PSG grant. This internet page will ask you to choose between purchasing equipment and implementing IT solutions.
You then need to fill out the specifics of the equipment or IT solution. On this page, you may also choose the vendor that will assist you in developing your PSG eCommerce website. Documents such as quotes from the selected suppliers should also be supplied using the choose files button. When all of these are completed, it is also critical to choose the best deployment site.
#6 Costing
The application procedure would also ask you to include the cost when you construct an online website eCommerce development PSG grant. The government will take your cost and annual sales (among others) into account and then tell you the amount that you can claim from them.
As you complete this application form for the website eCommerce development PSG grant to create an online shop. You must constantly keep in mind that only proper and accurate information should be published. False information might damage or endanger your company and grant application.
#7 Project specifics
More information on the project would have to be given in order for agencies to evaluate the proposal. The total economic effect of your project, as well as other project aspects, would have to be described.
There are numerous firms who wish to construct an online shop using the PSG eCommerce development grant; nevertheless, competition for this award is fierce. Through this area, the Singaporean government may guarantee that all grants have a significant economic effect.
#8 Examine your application and submit it
The declaration section would be the final portion of the application. Complete this area and go through your application. You will also be needed to complete the permission and acknowledgment form. Once you’ve finished reviewing your application, click the submit button.
Apply now and get started with your eCommerce website
You may have a trustworthy partner agency assist you with this application. Digital Solutions can assist you in applying for the Productivity Solutions Grant. Check out our services now and let us work together to establish an online shop PSG eCommerce development grant.
