Singapore remains one of the most technologically advanced countries in the world. In achieving this, the Singapore government provides support to Small and Medium Enterprises (SME). The purpose of their support is to encourage the adoption of technology and information solutions, services, and equipment for digitalization. So how does your SME business achieve digitalization? The answer is the Productivity Solutions Grant (PSG Grant Portal).
The Singapore government has introduced PSG to help your business’s digital transformation journey. This grant is aimed at moving local SME businesses closer to intelligent cities. Sometimes it will cost a lot in automating your business. Therefore, PSG is here to address the problem while helping to accelerate the adoption of technology in your business. You can use your PSG grant portal to implement the best ERP in your company. This article will explain the definition of the PSG grant portal and how to register it through the PSG business grant portal. Check out the following article!
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What is the PSG Grant Portal?
PSG stands for Productivity Solutions Grant. This grant allows companies to adopt information technology solutions and equipment. The Government of Singapore provides this grant portal to increase the productivity of companies or SMEs in Singapore. You will get this productivity increase through the automation of your business processes with the help of technology.
PSG was launched in April 2018 to assist you on your business’s digital transformation journey in Singapore. The solutions to increase your business productivity can be customer management, accounting management, data analysis, and more. Thus, your company can earn a grant by registering it through the PSG grant portal. The PSG grant portal that the Singapore government provides is called the Business Grants Portal (BGP). By registering it, you will get a grant to support the digital transformation of your business processes. There are several conditions for companies that can apply to the PSG grant portal. Existing companies can apply for PSG if registered and operating in Singapore. Furthermore, your company’s purchasing solution services or equipment must be used in Singapore.
The Benefit of The PSG Grant Portal
The Productivity Solutions Grant (PSG) in Singapore provides financial support for businesses to adopt pre-scoped productivity solutions, which can help them automate tasks, streamline processes, increase productivity, and reduce costs. PSG solutions are developed by experienced vendors, which can give businesses access to expertise and best practices.
Adopting PSG solutions can help businesses upgrade their capabilities, especially in areas such as digitalization, automation, and data analytics, which can help them stay competitive and up to date with the latest trends and technologies. Overall, PSG can provide significant benefits to businesses in Singapore in terms of financial support, productivity, competitiveness, expertise, and capabilities.
How do I submit a PSG grant?
Once you know what a PSG grant portal is, the next step is registering it. You must apply through the Business Grant Portal (BGP) to obtain the grant. BGP is a one-stop form for businesses to apply for grants according to their company’s needs without approaching multiple agencies. The purpose of a Business grant portal is to facilitate government grants to get to a company’s business. Therefore, the existence of this portal can make it easier for business people to apply for grants according to their needs and sector. The PSG Business grant portal allows you to manage better and track grant applications.
Here’s how to apply for a grant through Business Grant Portal (BGP):
- Access a list of suitable solutions for the sector you are implementing.
- Identify solutions that are relevant to your business needs.
- Get a quote from a vendor you have previously agreed to if you apply for a grant in the form of IT solutions
- Register your company and create a CorpPass account to apply for grants.
- Submit your website application via the Business grant portal
- Claim your grant at the Business grant portal before the due date of your claim.
Also read: SME Singapore Definition: A Guide to Start Your SME in Singapore
How do I claim BGP grant?
If you are still confused, this section has summarized the PSG Grants Portal Step-by-Step Guide. These step-by-step instructions can give you an idea of how to sign up for a PSG grant portal for your business. Check out the following steps!
- Sign in to the Business grant portal, selecting the My Grants tab. Next, click the “Get new grant” button.
2. Answer three questions related to your project.
3. Check ‘Yes’ if you meet the eligibility criteria
4. Type in your main contact
5. Input all of your data into the application form.
6. Fill in details of project cost
7. Complete your overall business impact and productivity gains
8. Review your application and click submit.
The PSG grant portal is a portal to apply for grants that allow companies to adopt information technology solutions and equipment. The Government of Singapore provides this grant to increase the productivity of companies or SMEs in Singapore. You must apply through the Business Grant Portal (BGP) to obtain the grant. Furthermore, the PSG business grant portal is a one-stop portal for businesses to apply for grants according to their company’s needs without approaching multiple institutions.
This grant portal can help you improve your company’s performance efficiency through IT solutions. ERP can be your first step to automation in your business processes. HashMicro’s Hash Core ERP is the best solution for you, integrating and simplifying all the processes necessary to run a company. You can use your PSG grant portal to implement the best ERP in your company. Therefore, you can use Hash Core ERP which is guaranteed benefits and quality. Contact us now and get the best deal!