Government Grant for MYOB and All You Need to Know About PSG
Productivity Solutions Grant
The Productivity Solutions Grant (PSG) mainly supports companies in the adoption of pre-scoped IT solutions and equipment that enhance the business productivity and efficiency. Good news is MYOB is a pre-approved IT solution under PSG to help SMEs in Singapore in the transformation journey, you can refer to PSG Grant for MYOB on the available and supported packages.
What is PSG and when it is released?
The Productivity Solutions Grant (PSG) is a new government initiative announced in Budget 2018 to assist businesses in their transformation journey. An initial S$110 million will be set aside over the next three years (until 2020) for PSG to support selected productivity solutions in line with the Industry Transformation maps (ITMs).
PSG covers sector-specific solutions in retail, food, logistics, precision engineering, wholesale and landscaping industries, as well as broad-based solutions that cut across industries, such as in areas of financial management, inventory tracking, human resource management, customer management, and data analytics.
These solutions have been pre-scoped and pre-approved by various government agencies such as Enterprise Singapore and National Park Board (NParks).
PSG will support in the following manner:
Funding of up to 70% of the IT solution cost;
Pre-Approved of IT solutions and equipment with Pre-Qualified Vendors (for IT solutions); and
Simplified Grant Processes.
Is my company/business eligible to claim PSG?
Business who meet the following criteria can apply for PSG:
The company is registered and operates in Singapore.
The purchase of IT solutions or equipment must be used in Singapore.
Have a minimum of 30% local shareholding for the company.
How to Apply for PSG?
Step 1: Access the list of supportable IT solutions that best suit your business needs.
Step 2: For IT Solutions, get a Pre-Approved Quotation from the Pre-Approved Vendor. For Equipment, you can source for the equipment at your own and get a quotation from the vendor.
Step 3: Submit application at Business Grant Portal (BGP). You will need a CorpPass account to access this.
Interested to Apply PSG for MYOB?