WHAT IS PRODUCTIVITY SOLUTION GRANT (PSG)
The Productivity Grant (PSG) was launched by IMDA Singapore to supports SMEs that are keen on adopting IT solutions and equipment to enhance business processes.
PSG covers sector-specific solutions such as retail and food industry.
With up to 80% cash grant available, it allows local companies to make long term investment on POS systems in Singapore.
WHO IS ELIGiBLE?
Startups. Companies with no minimum employees. Small and medium sized enterprises.
Companies need to have 30% of ordinary shares to be held by Singaporeans or PRs.
SMEs that have claimed from the grant more than a year ago can reapply.
PSG GRANT FAQ
Here are some other frequently asked questions about PSG.
Businesses that wish to apply for the Productivity Solution Grant has to have at least 30% of the business ordinary shares be held by Singaporeans or Permanent Resident.
A company can apply for PSG for every new technology solution. For example, if a company applies for the grant and receive a 80% subsidy for EPOS POS machine, they can still apply for the grant for a different technological solution.
Companies can only apply for PSG for the same solution more than once only if it is for a different outlet under the business, this means that a company can receive 80% subsidies on two or more EPOS machines as long as they are for different outlet.
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 solution 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 the equipment, delivery fee and installation fee.
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 grant with confidence as it remove the uncertainty on whether the tech solution is eligible for the grant.