Productivity Solutions Grant (PSG)
What is Productivity Solutions Grant (PSG)?
The Productivity Solutions Grant (PSG) programme is a joint initiative by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore, supports companies in adopting IT solutions and equipment to enhance business processes.
Businesses can choose from a list of pre-scoped solutions and receive up to 80% funding support for eligible costs from 1 April – 31 September 2021.
PointStar Consulting is a pre-approved PSG vendor by IMDA. Our PSG approved packages can be utilised across industries and covers such as in areas of Accounting Management, Customer Relationship Management, Inventory Management, and Sales Management System.
The Government of Singapore announced in 2018 the allocation of S$110 million over three years for the Productivity Solutions Grant (PSG). And then, it was announced at Budget 2021 that the PSG grant programme will be extended from 30 September 2021 to 31 March 2022.
What are the advantages to applying for a Productivity Solutions Grant (PSG)?
With the PSG, SMEs receive up to 80% in funding support* when they adopt approved software and equipment. The government has approved specific solutions and equipment that will support business growth and a strong economy.
What does the Productivity Solutions Grant (PSG) cover?
The PSG covers solutions in specific industries including retail, manufacturing, wholesale trade, logistics, food, logistics, precision engineering, construction and landscaping. And, the PSG also supports broader solutions that impact a wide range of industries, such as customer relationship management, data analytics, financial management, inventory tracking, online collaboration tools, virtual meeting and telephony tools, queue management systems and temperature screening solutions.
Is my business eligible for the Productivity Solutions Grant (PSG)?
Your business can apply for the PSG if it meets the following eligibility criteria:
- Your business must be registered and operating in Singapore
- Purchase/subscription of the IT solutions or equipment must be used in Singapore
- Have at least 30% local shareholding (for selected solutions only)
You must not have:
- Made any payment to a supplier, vendor or third party in relation to the purchase/subscription of the IT solution or equipment or consultancy service
- Signed any contract with a supplier, vendor or third party in relation to the purchase/subscription of the IT solution or equipment or consultancy service
How to apply for the Productivity Solutions Grant (PSG) with PointStar Consulting?
Here are the steps you can apply for the PSG:
- Get quotations for solutions of your interest from us
- Make sure you not have signed any contract or made any payment before submitting the PSG application
- Once you have collated all important documents, submit an application on the Business Grants Portal (BGP). Make sure you have a CorpPass account to transact on the BGP
What NetSuite solutions are pre-approved under the Productivity Solutions Grant (PSG)?
SMEs can get up to 80% funding support* by adopting a solution from the pre-approved NetSuite SuiteSuccess solutions.
The pre-approved NetSuite SuiteSuccess solutions have been designed to support growing businesses.
They combine NetSuite’s comprehensive suite of business applications with a customer engagement model that takes advantage of more than 20 years of expertise, providing industry leading practices, domain knowledge, KPIs and an agile approach to ERP implementation. Choosing SuiteSuccess means faster time to value, increased business efficiency, flexibility and greater business visibility.
Can the equipment or IT solution be used for the company’s subsidiary or related party?
No, it cannot. The equipment or IT solution should only be used by the applicant’s primary entity and not by a related party.
How long must the purchased equipment or IT solution be held for?
The holding period is one year from the date of final claim disbursement.
How many Productivity Solutions Grant (PSG) can a business apply for?
Businesses can put in more than one PSG application depending on business needs. However, support can only be extended for one package per solution category per deployment location.
Can a company submit concurrent applications?
Yes, this is possible.
What is the maximum grant amount that I can claim?
For companies supported by ESG, they are given an annual grant cap of S$30,000 starting the 1st of April until the 31st of March of the following year.
What happens when the grant cap is fully utilised?
Companies that have fully utilised their grant caps will not be eligible for further support within the validity period of the grant cap. And may then apply for new solutions at the next period when the grant caps are refreshed. Companies are encouraged to plan the use of the PSG for their purchases.
What is the processing time for applications?
Disbursement of the PSG grant will be credited directly to the company’s bank account through GIRO. The completed GIRO form must be verified by the company’s bank. And then, submitted to ESG before the company’s claim request. For multiple claims, the GIRO form is only required during the submission of the first claim.
The company will need to submit a new GIRO form if there are changes to the company’s account details.
Can a pre-approved vendor apply on my behalf?
No, after you have received your pre-approved quote from a pre-approved vendor, you must process your application through Business Grants Portal (BGP).
What payment terms does PointStar Consulting accept and when am I allowed to claim the expenses I incur under the Productivity Solutions Grant (PSG)?
Upon signing with PointStar Consulting, the full amount should be paid by the business within 30 days. The business can only claim for reimbursement after receiving the approval of the grant application and after you have fully deployed the solution. You must provide documents to show that you have used the solution for at least one month. Incomplete submissions will result in delays.
Can you modify quotations? Are you allowed to add or include a complimentary service or Item?
No, unfortunately, you can’t modify the pre-approved quote. Any modifications to services or items included on the NetSuite pre-approved packages will not be eligible for the PSG support (without additional approval). Other grants such as the Enterprise Development Grant (EDG) are available for custom solutions
Can I add other modules outside of the pre-approved package purchased?
Yes, other modules can be added to your solution but it will not be part of the reimbursable grant if they are not part of the pre-approved package under the PSG. Any module added outside of the pre-approved packages should be quoted separately and any modifications on the pre-approved quote is subject for approval by the PSG.
How to increase your chances of getting the Productivity Solutions Grant (PSG)?
After getting your pre-approved quote, you must submit your application immediately on the Business Grants Portal (BGP). Preparing your latest financial statements or any document to prove that you have a good financial standing as a company can increase your chances of qualifying for the PSG.
Can I use an Enterprise Development Grant (EDG) in addition to Productivity Solutions Grant PSG grant?
You should choose PSG if one of the packages suits you. If you need a customised solution, you should consider EDG instead.
How will the company be notified of the claims disbursement?
An email will be sent to the email address stated on the BGP to confirm the transaction.
Get The #1 Cloud ERP with 80% Funding Under PSG Grant!
Why choose PointStar Consulting?
PointStar Consulting is a pre-approved PSG vendor by IMDA to provide NetSuite cloud ERP solutions for business grants. We have the experience and expertise in dealing with business grants to assist SMEs, our team is also certified in Practising Management Consultant (PMC), which is recognised by government agencies such as SPRING Singapore, IE Singapore, IPOS, WDA and others. With PointStar Consulting, you can assure that you are tapping the experience of a Practising Management Consultant who has proven our expertise in productivity consultation.
As a cloud ERP consulting company, PointStar Consulting has a full-fledged team of consultants to help companies and SMEs in Singapore.