It is easy to be convinced that technology is all about complexities, and high-end solutions. However, that’s far from the truth since you can employ easy and simple steps whenever you want to digitize your small business and improve productivity. Fortunately, many governments are now helping small businesses go through the digital transformation without encountering any issues whatsoever.
The government of Singapore has not been left behind in this regard as they support digital transformation through the Productivity Solutions Grant (PSG). This grant helps SMEs in Singapore overcome common challenges such as inadequate funding and lack of time. Here are some of the things you need to know about the PSG grant for SME.
What is the Productivity Solutions Grant?
The PSG as it is popularly known focuses on adopting internet technology options in specific industry solutions. Some of the selected industries include logistics, finance, engineering, food and landscaping industries. To offer the needed help, the PSG has brought together three types of existing grants i.e., national parks board’s landscape grant, spring Singapore innovation grant, and the Media Development Authority SMEs Digital programme.
Through the grant, SMEs get the financial breakthrough they need to achieve success. By offering close to 70% funding support to companies they can focus more on long-term investment in technology. To get the most from this grant, you will first have to apply to get a more substantial one grant scheme.
Eligibility for Productivity Solutions Grant
SMEs companies are eligible to apply for the grant provided they’re registered and based in Singapore. Furthermore, the information technology solutions, lease and purchase must be in Singapore. If this is not enough, the company’s employees should not exceed two hundred employees. Be sure to go through the eligibility criteria before applying, especially if you happen to be experienced in digital marketing.
The Productivity Solutions Grant plays a vital role in helping SMEs in Singapore materialize their innovative lifestyle concepts. If you are yet to apply, there is no other time to do so than now. Either way, you ought to understand what goes into the PSG grant before deciding on anything. Hopefully, this post can serve as a good starting point before you finally fill the application form. Continue reading about PSG grant here and get answers to all your questions without necessarily having to move a muscle.