The PSG grant is a government grant for Singaporean small businesses and stands for the Productivity Solution Grant. This grant helps offset the costs of adopting website productivity solutions. After all, it subsidizes up to 80% of the costs of services such as accounting software and eCommerce website development.

Many small businesses use the PSG grants for accounting since accounting is something that every small business needs. And you typically need to comply with strict government regulations to benefit from this grant. This grant help SMEs save on the costs by offering assistance to the extent of up to 80% of the original cost. You can deem it as shopping with an 80% discount.

You can also use the PSG grant to seek advice and help from professionals when looking forward to increase your productivity.  It pays off to build your own custom accounting software rather than using a premade option. The good thing about taking this approach is that you get advice and help from professionals. This is especially the case in a small country like Singapore where your network and connections are everything.

While it is the best funding support for projects, you must first check that your company is eligible before filling and submitting the application form. In a nutshell, you need to be a registered business in Singapore with sole proprietorship, partnership, limited liability partnership, private limited company, or other legal entity. You should also have at least 30% local shareholding if it is a privately-held company.

To apply for the PSG, you need to have a quotation of pre-scoped IT solution/service from an Authorized Reseller/pre-approved vendor and a copy of the latest ACRA for your company. It doesn’t stop at that since you also need a copy of the latest audited/unaudited financial statements or management accounts for the past three years. Be sure to research more about the needed documents before deciding on anything.

There is more you need to know about the Productivity Solutions Grant (PSG) in Singapore than what is merely included in this simple guide. That’s why you should make an effort to continue reading PSG grants in Singapore as it is the only way to get answers to all your burning questions. Among the best places to start is by checking out the official website of MediaOne Marketing in Singapore.