Productivity Solutions Grant (PSG)
What is PSG?
The Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes. PSG covers sector-specific solutions including the retail, food, logistic, precision engineering, construction, and landscaping industries. Besides that, PSG also supports the adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management, and inventory tracking. With up to 80% funding support. PSG serves as an avenue for companies to make long-term technology investments and also to kick-start their digitalization efforts. You can apply PSG for pre-approved solution " Xero Accounting Solution" by Cloud Accounting & Consultancy Pte Ltd.
Who can Apply for PSG Grant?
SMEs can apply for PSG if they meet the following criteria:
Registered and operating in Singapore
Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
Have a minimum of 30% local shareholding
How to Apply for PSG Grant?
Obtain a quotation of Xero Cloud Accounting software from us.
(Cloud Accounting & Consultancy Pte Ltd) *We are the pre-approved vendor under PSG IT Solutions.
Submit grant application online via the Business Grant Portal.
SMEs NEED NOT accept quotation at this time.
Applications are processed within 4 to 6 weeks from the submission of all required information. You will receive a letter of offer stating the application is successful as well as the subsidy amount.
Confirm and sign the quotation with Cloud Accounting & Consultancy Pte Ltd
Purchase, set up and start using the Xero Cloud Accounting Software. You have to complete the project within 6 months.
Submit the claim and you should receive reimbursement from government in about 2 months' time.
Frequently asked questions
What is SMEs GO DIGITAL?
Eligibility of PSG Grant
Xero Accounting Software customers may be eligible for up to 70% government subsidy with PSG when they purchase a one-year subscription and migrate their data to the cloud solution.
Business entity that is registered/incorporated in Singapore
At least 30% local shareholding
Purchase/lease/subscription of the Equipment or IT Solution must be used in Singapore
Made any payment to a supplier, vendor or third party in relation to the purchase/lease/subscription of the IT solution or equipment
Signed any contract with a supplier, vendor or third party in relation to the purchase/lease/subscription of the IT solution or equipment
Charities, Institutions of Public Characters (IPCs)
Voluntary Welfare Organisation (VWO)
Government agencies and subsidiaries
How do company apply for the PSG (detail steps)
Visit Tech Depot to access the list of supportable solutions and identify relevant solutions that they may want to procure
Obtain quotations from Cloud Accounting Pte Ltd. IT solutions and vendors have been pre-qualified under the grant
Company should not have signed any contract or made any payment before submitting the PSG application
Submit an application on the Business Grants Portal (BGP) at www.businessgrants.gov.sg. Companies will need to have a CorpPass account to transact on the BGP
What is Business Grants Portal?
Acceptance of Letter of Offer
How many claims can a company submit per application, and can claims be disbursed before the project has been completed?
Claimant has purchased/leased/subscribed to the solution as approved in the application; and
Claimant has used the solution; and
Claimant has paid for the solution in full; and
Claimant has submitted all claim documentation
Can I grow my Xero Cloud Accounting solution so that it scales with my business?
Yes, you can. The Xero solution is a flexible one, and provides an effective accounting service for small businesses in Singapore and beyond, even as they grow. Head to the Xero app marketplace and find a suite of applications that you can add on to your solution to make it as effective as possible.
How will the PSG grant disbursement take place?
What is the processing time for claims disbursement?
How will I be notified of the claims disbursement?
An email will be sent to the email address stated on the BGP to confirm the transaction.