The Productivity Solutions Grant (PSG) supports companies in the adoption of pre-scoped IT solutions and equipment that enhances productivity.
Technology is not about fancy and expensive high-end solutions. You can kick start your technology journey by taking simple steps to automate existing processes and improve productivity. The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.
For a start, PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries. Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.
These solutions have been pre-scoped by various government agencies such as Enterprise Singapore (ESG), National Environment Agency (NEA) and Singapore Tourism Board (STB).
With up to 70% funding support, PSG serves as an avenue for companies to make long-term technology investments. The list of readily adoptable solutions can be found on Tech Depot.
In line with Budget 2019, with effect from 8 April 2019, solutions supported by ESG and that are able to help companies reduce reliance on manpower will be supported at 70%.
Productivity Solutions Grant (SkillsFuture Training Subsidy)
From 1 July 2019, companies with approved Productivity Solutions Grant (PSG) applications can apply for the Productivity Solutions Grant (SkillsFuture Training Subsidy) [PSG (SFTS)] via the Business Grants Portal (BGP).
The subsidy, which is part of the enhanced PSG, allows companies to upskill employees and claim up to 70% of out-of-pocket training expenses, capped at $10,000 per eligible company. This is provided on top of existing government course fee subsidies, and in addition to the sector-specific grant cap for the PSG pre-scoped productivity solutions.
Companies have up to 31 March 2023 to submit their applications. For more information on PSG (SFTS) and the list of suggested training courses, please visit skillsfuture.sg/psgtrainingsubsidy.
SMEs can apply for PSG if they meet the following criteria:
- Registered and operating in Singapore
- Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
- Have a minimum of 30% local shareholding (for selected solutions only)
Here are the steps you can take when applying for PSG:
- Access the list of supportable solutions from below and identify relevant solutions that best suit your business needs.
- For IT solutions : Get a quotation from the pre-approved vendor.
For equipment : Source for the equipment and get a quotation from the vendor.
- Submit an application on the Business Grant Portal (BGP). You will need to register for a CorpPass account to transact on the portal.
Select the respective sector your business belongs to and the type of solutions you’re interested to find out about.