This article was first published on 24 December 2020 and has been updated with the latest information.
Entrepreneurs are constantly pursuing ways to boost productivity at the workplace. After all, a more productive team allows more and/or better work to be done in less time, and for employees to leave on time. As workers feel in control of their workload, it reduces burnout and improves their well-being. So it’s no wonder that productivity hacks remain a perennial topic.
If you are planning to boost productivity for your company, consider applying for the Productivity Solutions Grant (PSG), where SMEs can get up to 50% off on technology solutions and equipment.
What Is The Productivity Solutions Grant Grant (PSG)?
In general, businesses can apply for 1) pre-scoped IT solutions; 2) pre-scoped equipment; and 3) pre-scoped consultancy services.
The PSG grant then has sector-specific solutions within each of the 3 areas, including for retail, food, logistics and construction. It also covers solutions for customer management, data analytics, financial management and inventory tracking.
[Update: The Productivity Solutions Grant SkillsFuture Training Subsidy (SFTS) has been phased out, and replaced by the SkillsFuture Enterprise Credit (SFEC) from 1 March 2020, which provides $10,000 grant to offset up to 90% of your business’ out-of-pocket expenses.]How To Apply For PSG Grant?
Companies can apply for the PSG grant via the Business Grants Portal, where you can also apply and manage all your other business grants.
To login to the portal, you need to have a CorpPass account, which is used for corporate transactions on Government digital services. If you need help setting up a CorpPass account, refer to this guide here.
Once you’ve got the account up, your next step is to figure out which solution is best suited for your business. You can find a list of PSG approved vendors on Tech Depot.
Once you have chosen your preferred solution, contact the vendor for a quote. This applies to both IT solutions and equipment. At this stage, you need not purchase the solution yet.
Next, fill up the application form for PSG grant. This form can be found on the Business Grants Portal and only accessible upon login. Submit the completed form with the quote via the portal.
It takes about four to six weeks for your application to be assessed. When the application is approved, you will receive an email. Within 31 days, you will have to accept the application on the portal.
You’ll receive disbursements after you have purchased the solution, paid for the expenses and submitted all claim documents.
Take note that the PSG Grant only applies to solutions that your company does not currently use.
Read Also: Career Trial Programme: Finding The Right Hiring Fit Just Got Easier With This Government Subsidy
Who Can Apply For PSG Grant?
SMEs can apply for the productivity Solutions Grant if they fulfil these criteria:
- Registered and operating in Singapore
- Purchase/lease/subscription of IT solutions or equipment to be used in Singapore
- For selected solutions, have a minimum of 30% local shareholding
PSG-Approved Vendors
There are many PSG-approve vendors which businesses can approach for various IT solutions or consultancy services. To round up this article, we have selected a few vendors whose services may be commonly utilised by businesses. For a full list of PSG Approved Vendors, head here instead.
Businesses who wish to automate accounting, inventory, HR and sales can consider A2000 Solutions’ business management tool. Streamlining quotation and invoice processes or HR services such as payroll or leave can boost efficiency and productivity, as time is freed up on such tasks.
Read Also: 5 Digital Solutions That Every Company Should Adopt Using The Productivity Solutions Grant (PSG)
#2 Shopify
Online retailers can apply for Shopify, an e-commerce platform with a full suite of features. Services such as payment, marketing, store management and web hosting are provided, making it much easier to build and manage your online store.
#3 EPOS
F&B outlets can tap on EPOS, which enables customers to order from a QR code menu or from a kiosk, reducing the need for counter staff. EPOS also has integrations to Grab, FoodPanda, Xero, Quickbooks and Shopify to further drive productivity.
#4 Dropbox
Dropbox Business is a cloud storage file sharing system which allows businesses to seamlessly share files between users, keeping files updated across devices. Dropbox has various advanced functions, such as a file version rollback, which allows previous versions of the file to be accessed, as well as sharing permissions, which allows administrators to control who has access to various files.
Building a Sustainable Future
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