Productivity Solutions Grant (PSG) is the Singapore government’s restructured initiative to help SMEs in their digital transformation journey and provide support for the adoption of IT solutions and equipment. The Productivity Solutions Grant (PSG) encourages SMEs to take the next step towards future capability development.
PSG will cover 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 human resource management systems, among others.
PSG will support in the following manner:
- Funding of up to 80% of the cost;
- $30,000 annual PSG grant allowance;
- Shortlisted list of pre-qualified IT solution vendors;
- Simplified grant processes on the Business Grants Portal (BGP)
What is SFEC?
The SkillsFuture Enterprise Credit (SFEC) encourages employers to invest in enterprise transformation and capabilities of their employees. Eligible employers will receive a one-off S$10,000 credit to cover up to 90% of out-of-pocket expenses on qualifying costs for supportable initiatives, over and above the support levels of existing schemes including PSG.
To encourage employers to train and upskill their workers, S$3,000 of the credit should be used for workforce transformation programmes (for training and job redesign) and employers can only use up to S$7,000 for enterprise transformation (for programmes like PSG).
Are you eligible?
- Businesses who meet the following criteria can apply for PSG:
- Registered and operating in Singapore
- Purchase/subscription of IT solutions or equipment must be used in Singapore
- Have a minimum of 30% local shareholding (for selected solutions only)
- Businesses who meet the following criteria will be eligible for SFEC:
- Have contributed at least S$750 Skills Development Levy over the period*
- Have employed at least three Singapore Citizens (SCs) or Permanent Residents (PRs) every month over the same period*
- Have not been qualified at any of the earlier periods*
- *Qualifying Periods
- 1 April 2019 – 31 March 2020
- 1 July 2019 – 30 June 2020
- 1 October 2019 – 30 September 2020
- 1 January 2020 – 31 December 2020
How to apply?
Here are the steps you can take when applying for PSG:
- Access the list of supportable solutions and identify relevant solutions that best suit your business needs.
For IT solutions : Get a quotation from the pre-approved vendor.
For equipment : Source for the equipment and get a quotation from the vendor.
- Submit an application on the Business Grant Portal (BGP). You will need to register for a CorpPass account to transact on the portal.
There is no need to apply for SFEC. Employers that fulfil the eligibility criteria will be informed by Enterprise Singapore in writing. The Credit will be automatically used to subsidise supportable projects or courses that these employers successfully apply for.