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Types of PSG grants available for SMEs in Singapore

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PSG Grants

Productivity Solutions Grant Psg Grant Singapore

Singapore is a thriving business hub, and its government has put in place various initiatives and programs to support the growth of Small and Medium Enterprises (SMEs). One such initiative is the Productivity Solutions Grant (PSG), which provides funding to help SMEs adopt productivity solutions and technologies to enhance their operations.

The PSG scheme was launched by the Singapore government in 2018, and it aims to provide support to SMEs in the adoption of pre-scoped IT solutions and equipment that can help them streamline their processes and improve their productivity. The PSG grant provides funding of up to 80% of the total project cost, subject to a maximum of SGD 30,000 per SME per year.

There are various types of PSG grants available for SMEs in Singapore. Here are some of the most common ones:

  1. IT Solutions The PSG grant provides funding for SMEs to adopt various IT solutions such as accounting software, customer relationship management (CRM) systems, inventory management software, and human resource management (HRM) systems. These IT solutions can help SMEs automate their processes, reduce manual work, and improve their overall efficiency.
  2. Equipment Under the PSG grant, SMEs can also obtain funding for the purchase of equipment such as laptops, tablets, printers, and scanners. These equipment purchases can help SMEs improve their productivity by reducing the time taken to complete various tasks.
  3. E-commerce Solutions The COVID-19 pandemic has led to an increase in the adoption of e-commerce solutions worldwide, and Singapore is no exception. The PSG grant provides funding for SMEs to adopt e-commerce solutions such as website development, online marketing, and online sales platforms. These solutions can help SMEs expand their customer base and reach new markets.
  4. HR Solutions SMEs can also obtain funding under the PSG grant for the adoption of various HR solutions such as payroll software, attendance tracking systems, and employee performance management software. These solutions can help SMEs streamline their HR processes and improve their workforce management.
  5. Environmental Solutions The Singapore government is committed to sustainable development and has put in place various initiatives to support this goal. Under the PSG grant, SMEs can obtain funding for the adoption of various environmental solutions such as energy-efficient equipment, water-efficient solutions, and waste reduction equipment. These solutions can help SMEs reduce their environmental footprint and contribute to a more sustainable future.

In conclusion, the PSG grant provides SMEs in Singapore with an excellent opportunity to obtain funding for the adoption of various productivity solutions and technologies. The different types of PSG grants available cater to various needs and help SMEs improve their efficiency, productivity, and sustainability. SMEs should take advantage of this funding opportunity to enhance their operations and stay competitive in the ever-changing business landscape.

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