- The PSG (Productivity Solutions Grant) is a government grant for small businesses to save 50% of the cost on digitisation services.
- One way for businesses to take advantage of the PSG Grant is through developing an eCommerce websites on a platform like WordPress.
- Pre-approved PSG web development agencies will help you to apply for the PSG Grant. You will have to pay 100% of the cost but will be subsidised for (up to) 50% of that cost by the government. Note that this is subject to your application approval.
The Productivity Solutions Grant is one of the most often discussed incentives available in Singapore for SMEshttps://www.enterprisesg.gov.sg/financial-assistance/grants/for-local-companies/productivity-solutions-grant. The PSG web design has piqued the attention of many firms and some claims have been made on PSG eCommerce grant during the 2020 pandemic. The most frequent claim was for a PSG laptop which expired in December 2020https://www.singtel.com/business/info/psg. Most Singapore SMEs or firms are interested in purchasing a laptop. Some eCommerce web design experts are aware of the web design PSG eCommerce procedure, which finances up to 50% of the qualifying amount.
PSG web design accounting software includes a wealth of different alternatives that Singapore SMEs or firms may possibly claim for up to 50% financing assistance. Several instances are shown below:
- Hubspot is a software firm that offers CRM and marketing automation.
- Web design PSG eCommerce is a program for financial accounting.
- Google Workplace is a solution for managing your emails and job suites for PSG web design eCommerce procedures.
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.
#1 What is a PSG eCommerce web design and how does it work?
The PSG eCommerce design is created to stimulate the usage of internet technology solutions in a wide range of web design PSG eCommerce of SMEs. Among them include retail, finance, logistics, engineering, food, and landscaping. Web design PSG eCommerce combines three existing grants: the landscape grant from the National Parks Board, the Spring Singapore Innovation Voucher, and the SMEs Digital initiative from the Media Development Authority.
In a nutshell, you may request up to 50% of the eligible amount of government financing for digital solutions for your company or sector.
#2 Why isn’t the final claim 50% for the full amount claimed?
The majority of PSG eCommerce design grants include the phrase up to in their title. Most PSG eCommerce design grants are subject to approval. You must submit an application via the Business Grant Portal for the relevant person to approve before continuing with the PSG eCommerce design grant claims. In certain circumstances, the firm is disqualified for the award. Thus we recommend SMEs apply before proceeding with the project.
Another point to consider is that the gap between the actual price you pay and the amount claimed. This is because you may not be approved to claim 80% due to fees such as Government Service Tax (GST) etc.
#3 What kind of people should apply for PSG eCommerce grants?
The great majority of Singaporean SMEs are eligible for this subsidy. According to the Enterprise Singapore website, the following conditions must be met:
– The corporation is registered and operates out of Singapore.
– In Singapore, IT solutions and equipment must be bought, leased, or subscribed to.
– Have a minimum of 30% local ownership, a Group annual sales turnover of less than S$100 million, and less than 200 employees (for selected solutions only)
Is your startup going to be accepted? You may apply via the Business Grant website, and the assessing officer will determine whether your application is accepted or denied.
#4 Is there a maximum number of applications that may be accepted?
Unlike the business preparedness award, there is no annual cap on the number of applications approved. You can apply for more than one solution via the PSG, but only one solution may be applied for at a time. As a consequence, before submitting an application for approval, SMEs should be aware of how the PSG grant eCommerce design accounting process works and which PSG-approved vendor they want to deal with.
There is also a $30,000 grant limit for each business organization for applications sponsored by Enterprise Singapore (ESG) between April 1 and March 31 of each year. As stated in Budget 2021, the PSG grant eCommerce design would fund up to 50% of qualifying expenses through March 31, 2022.
#5 PSG eCommerce grant application takes too much time; is there a prototype available, or can the vendor make it for me?
No matter how hard we try, the answer is no. The customer must submit both the claims and the request for approval through the business grant portal. The customer will be compelled to log in through Corppass, preventing an external provider from doing so.
As with previous government grants, the recipient will be responsible for demonstrating to the government how the solution would boost the efficiency of their operations, which will vary based on the client.
Website PSG eCommerce is one of the simplest grant applications, in our perspective. Many SMEs cite laptops and financial apps like website PSG eCommerce or Quickbooks as preferred choices.
#6 What are the conditions of payment for the PSG eCommerce grant?
It’s comparable to the vast majority of government handouts. That’s what a refund arrangement looks like. As a consequence, before submitting a request to the business grant site for reimbursement, the customer must pay in full.
In order to qualify for PSG grant eCommerce design platforms, you may be expected to show proof of usage and how this solution helps your organization for the website PSG eCommerce. Before making claims, you must utilize the software/solution for at least one month.
Payment terms for projects undertaken by different website PSG eCommerce providers differ. It’s wise to check with each solution supplier regarding payment conditions.
Why do you need a PSG eCommerce web design strategy?
According to the most recent data.gov.sg study, 75 percent of Singapore’s small and medium-sized firms have an internet presence in 2016. As of January 2019, the Singapore Network Information Centre has registered over 90,000.sg domains. Companies obviously understand the value and need of having a website.
Many people make the mistake of underestimating the importance of PSG eCommerce web design and failing to collaborate with a Singapore digital marketing business. Website architecture, no matter how superficial, is the first thing a visitor sees when visiting your site. A Stanford University survey found that website design accounted for 75% of a company’s trustworthiness. This assures that a decent PSG web design will help you create market confidence and prestige, resulting in increased income and long-term buyers.
It makes no difference what industry the company works in. Or even the size of the company. Having a PSG web design platform from the beginning will only help you if you want to establish or expand a business.
Today is the day to apply for a PSG for web design & development
WLP DIgItal offers PSG grant eCommerce design for company incorporation in Singapore. We encourage you to contact us to learn more about the PSG grant eCommerce design options that might benefit your business. The PSG grant eCommerce web design software will assist your company. Contact us right now for further information.