PSG eCommerce Grant Singapore (Productivity Solutions Grant)

  • Post category:Singapore

Singapore has a goal to transform its economy and establish itself as a global leader in business, technology, and innovation. The Productivity Solutions Grant (PSG) aims to assist businesses and organizations in utilizing equipment and technology to enhance their operations. It includes many small and medium-sized businesses (SMEs), e-commerce, and food. It provides sector-specific solutions designed to promote IT tools, equipment, and consulting services.

psg ecommerce grant

What is covered by the eCommerce Grant?

The PSG e-commerce grant was created to assist firms in establishing and enhancing their online presence across various industries. Website development is one crucial component. The grant may be used to launch a brand-new e-commerce website or to enhance an existing one. This involves forming an interface that is easy to use and efficiently displays items.

Here’s a brief summary of what the applicant will receive: 

  • Inventory Management/Customer Account System
  • Feature of “Add to Cart with Payment Gateway Integration”
  • Create Unlimited products/categories
  • Parcel Delivery System Integrated 
  • System of Loyalty Points 
  • Promotional/Discount System 
  • System of Visual Reports

Marketing services including search engine optimization (SEO) setup, social media marketing integration, and email marketing integration are all included in the bundle. They help in raising brand awareness and website traffic across several internet platforms.

What is not covered by the eCommerce Grant?

For entrepreneurs seeking to enhance their online visibility and e-commerce abilities, the Singapore PSG program presents an excellent opportunity. Though there are certain limitations, the eCommerce Grant is a fantastic way to get started. Costs for developing and designing websites are covered, but hosting and maintenance are not covered. Furthermore, the applicant won’t be able to use stock management or payment methods. The applicant must make sure to understand what is and isn’t covered before applying so they can prepare their budget and avoid any unforeseen expenses later on.

The following things are not included:

Hosting and Maintenance Services

Hosting and maintenance services Are not part of the PSG package. If the agency violates the terms and conditions of being a PSG Vendor, The applicant can run the risk of having their application denied.

Photography Service

The package does not include product photography services either. Photography services might cost SGD 4,000 per day.

Domain

The price range for a domain is SGD 20 to SGD 150. If the applicant wants to buy a.com.sg domain, they may get it from Namecheap or Exabyte.

Transaction Fee

For online purchases, it is advisable to use Hitpay. Every sale will be subject to a transaction charge, which is determined by the payment method the applicant is using. 

Content Writing 

Writing descriptions or content is not covered by the PSG package. The applicant should consider creating their own content with AI programs like Copymatic or ChatGpt. Both programs are free and offer strong support for the English language.

Reach out to us at Relin Consultants – Leading Global Business Set Up Partners for more information.

FAQs

Which topics are covered in the Productivity Solutions Grant (PSG)?

The PSG includes industry-specific solutions for the retail, food, construction, logistics, precision engineering, and landscaping sectors. In addition to sector-specific grants, the Productivity Solutions Grant (PSG) supports the implementation of cross-industry solutions in areas including inventory monitoring, customer management, financial management, and data analytics.

What are the requirements to be eligible for the Productivity Solutions Grant (PSG)?

For SMEs to be qualified for PSG, they need to fulfill the following requirements:

  • Operating and registered in Singapore.
  • Hold at least 30% of the shares locally. The yearly group sales turnover of the company shall not exceed S$100 million, OR The size of the company’s group should not exceed 200 workers.
  • Equipment or IT solutions must be purchased, leased, or subscribed to in Singapore.

How to apply for the productivity solutions grant (PSG)?

  • Get a quotation from a PSG-approved vendor.
  • Prepare your most recent financial statement.
  • Use the Business Grant Portal (BGP) to submit your application (only one link). Remember that to transact with the BGP, you must have a CorpPass account.

What is the application processing time?

Applications are handled between four and six weeks after the necessary documentation is received. It is highly recommended that businesses submit their applications well in advance to allow for the outcome of the application and/or the necessary processing time.

Can I apply for more than one PSG grant?

Businesses may use many PSG applications based on their own requirements. Note that support may only be extended for a single package per deployment site and solution category. The installation of the same IT system at the same location cannot be requested.

Does the PSG Grant amount have a limit?

A yearly grant cap of S$30,000 for solutions sponsored by Enterprise SG is applied to any firm that receives support from the organization. This cap is applied from April 1 to March 31 of the following year.

How can I select the right provider for my company?

Understanding the demands and requirements of your company is the first step in selecting the best PSG provider for it. After that, you’ll need to look into the different suppliers that are out there. When choosing a vendor, it’s critical to go through their portfolio and learn about their experience in delivering solutions.