Have you heard about the Productivity Solutions Grant (PSG)? Well, this popular business grant in Singapore subsidizes the costs of pre-approved digital solutions by nearly 80%. Once you’re pre-approved for the PSG grant Singapore, you get to enjoy the digital marketing solutions at a significant discount.
And this doesn’t come as a surprise to many entrepreneurs since the primary intention of this grant is to encourage digitalization in Singapore companies. But before you think about leveraging what it offers, it pays off to know what you’re signing up for. Read on to unearth more before taking the next step of action.
While it is a government grant supporting local SMEs that want to utilize IT solutions to improve their business operations in Singapore, you need to be eligible for the grant before leveraging what it offers. To give you the tip of the iceberg, the SME must be registered and operating in Singapore.
Also, the company must have at least 30% local shareholding. It doesn’t end at that since you must be an SME looking to hire a Singapore-based IT solutions provider. SMEs that don’t meet any of the set eligibility criteria might miss out on what this grant offer.
If you want to bring your business overseas and need some financial injection, there is nothing wrong with leveraging the PSG grant Singapore. But meeting the eligibility criteria isn’t to say everything will turn out how you expect. You should also have all the documents needed in place before filling up the application.
Among the most notable documents needed before signing up for a PSG digital marketing grant include an invoice, certificate of incorporation as proof of local shareholding and your company’s bank statement for the past six months. You should also have with you identification numbers such as ID, NRIC, or passport, to mention a few.
The PSG grant Singapore is undeniably one of the most widely sought after grant by most SMEs, as it helps them improve productivity. If you are looking forward to improving your business processes, then it is in your best interest that you leverage what it offers.
Hopefully, this simple guide can serve as a good starting point before you finally give it a try. Feel free to enlist expert help when struggling to complete the PSG grant Singapore application process single-handedly.