EPOS provides Digital Solutions that are eligible for several business grants.
A grant introduced by the IMDA, which encourages businesses to invest in digital solutions offering up to 80% in subsidies of the total costs of the solutions.
An assistance scheme where eligible employers will receive a one-off S$10,000 credit to cover up to 90% of the out-of-pocket expenses on qualifying costs.
EPOS qualifies as a retail enhancement IT solution, whereby eligible SMEs can receive up to 80% in subsidies on EPOS system solutions.
Startups. Companies with no minimum employees. Small and medium-sized enterprises.
Companies need to have 30% of ordinary shares held by Singaporeans or PRs.
SMEs are eligible for new grants annually.
Businesses that wish to apply for the Productivity Solution Grant have to have at least 30% of the business’ ordinary shares held by Singaporeans or Permanent Residents.
A company can apply for PSG for every new technology solution. For example, if a company applies for the grant and receives a 80% subsidy for the EPOS POS machine, they can still apply for the grant with a different technological solution.
Companies can only apply for PSG for the same solution more than once if it is for a different outlet under the business. This means that a company can receive 80% subsidy on two or more EPOS machines as long as they are for different outlets.
There is a grant cap of S$ 30,000 per business, this cap resets on the 31st of March every year. This means that applicants that have hit their $ 30,000 budget will only be able to qualify for PSG again after 31st March.
*Certain equipment and IT solutions might be subjected to further cost caps.
No you cannot. In order to enjoy the subsidy of the PSG, you have to apply for it before you make the purchase.
It cannot be done after signing or making any payment to a vendor.
The PSG grant only covers the purchase cost of equipment, software and training. Unless stated otherwise, anything else is excluded.
IMDA has pre-scoped both vendor and solution in order to simplify the application process. Being a PSG pre-approved vendor allows applicant to apply for the SME grants with confidence as it removes the uncertainty on whether the tech solution is eligible for the grant.
Eligible employers for SkillsFuture Enterprise Credit (SFEC) will receive a one-off $10,000 credit to cover up to 90% of the out-of-pocket expenses on qualifying costs
Contributed at least S$750 for the Skills Development Levy over a given period
Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period.
No application is necessary, eligible customer will be informed by Enterprise Singapore in writing.
Skills Development Levy (SDL) is a mandatory contribution by employers. SDL is to encourage employers to upgrade their employees’ skills. SDL collections are channelled into the Skills Development Fund (SDF), which supports a wide variety of skills upgrading programmes and activities. The SDL and SDF are administered by SkillsFuture Singapore (SSG).
There are four qualifying periods:
a. 1 April 2019 – 31 March 2020
b. 1 July 2019 – 30 June 2020
c. 1 October 2019 – 30 September 2020
d. 1 January 2020 – 31 December 2020
There will be no qualification of employers after the last period.
The SFEC will be reimbursed directly to employers from 1 April 2021.
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