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?

QUOTATION

Step 1

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.

Step 2

Submit grant application online via the Business Grant Portal
SMEs NEED NOT accept quotation at this time.

APPLY
      ONLINE

GRANT APPROVED

Step 3

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. 

Step 4

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.

CLAIM

Step 5

Submit the claim and you should receive reimbursement from government in about 2 months' time.

 

Frequently asked questions

What is SMEs GO DIGITAL?


The SMEs Go Digital programme aims to help SMEs use digital technologies and build stronger digital capabilities to seize growth opportunities in the digital economy. Building on the foundation of Enhanced iSPRINT, SMEs Go Digital has a more structured and inclusive approach towards the adoption of digital technologies by SMEs.




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. What is the eligibility criteria for Productivity Solutions Grant (PSG)

  • 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
The company must not have:
  • 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
Otherwise, the application will be rejected. The following entities do not qualify for grant support:
  • Charities, Institutions of Public Characters (IPCs)
  • Religious Entities
  • Voluntary Welfare Organisation (VWO)
  • Government agencies and subsidiaries




How do company apply for the PSG (detail steps)


To apply for the PSG, companies will have to:

  1. Visit Tech Depot to access the list of supportable solutions and identify relevant solutions that they may want to procure
  2. Obtain quotations from Cloud Accounting Pte Ltd. IT solutions and vendors have been pre-qualified under the grant
  3. Company should not have signed any contract or made any payment before submitting the PSG application
  4. 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
Click here for a step-by-step guide.




What is Business Grants Portal?


Business Grants Portal (BGP) is a one-stop portal for businesses to apply for government grants. This paperless system allows entities to find the grants they need with ease, enjoy a convenient form completion process, and reduce the time spent on applications. If the company has yet to register for a CorpPass Administrator account, please visit www.corppass.gov.sg. After successful registration, users need to be assigned the e-Service access to the BGP in order to submit their grant application.




Acceptance of Letter of Offer


How does a company accept the Letter of Offer upon approval of application? Click here for a step-by-step guide. If the individual who submitted the application on behalf of the company has left, how do I accept the Letter of Offer? Any personnel assigned as a BGP user in the company and given a Preparer or Acceptor role by the company’s CorpPass Administrator can accept the Letter of Offer. Contact details of the new user should be updated in the BGP.




How many claims can a company submit per application, and can claims be disbursed before the project has been completed?


There can only be one claim per approved application. For claims submission, company needs to ensure:

  • 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
Disbursements can only be made after the claims have been approved. Click here for a step-by-step guide.




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?


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 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.




What is the processing time for claims disbursement?


Claims are processed within 4-6 weeks from the submission of all required information. Companies are encouraged to submit their claims after they have fully deployed, providing documents to show use of the solution for at least one month. Incomplete submissions will result in delays.




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.





 

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