An update on the PSG Grant

WLP Group

The PSG Grant is a government grant by Enterprise SG to subsidise the cost of digital solutions, such as eCommerce website design, for small and medium sized businesses (SMEs) in Singapore. The PSG stands for: Productivity Solutions Grant. The PSG Grant was launched in 2018 and it was initially subsidising up to 90% of costs for eligible SMEs in Singapore.

The eligibility criteria includes:

  • The business must be incorporated and operating in Singapore
  • There must be a minimum of 30% local shareholding
  • The business must be deemed as an SME, which means that its annual revenues must be less than SGD $100 million, or not hire more than employees

Since then, the PSG Grant’s subsidised amount has been changed. Businesses who claim the PSG Grant for services like accounting software like Xero can now receive subsidy for up to 50% (as of June 2023). Note that the PSG isn’t an accounting software grant, but rather a government grant for a range of pre-approved IT solutions and products.

To apply, SMEs in Singapore must first get quotations from pre-approved vendors for specific IT products or services. This may include videography services or laptops for employees. Then, the SME business owner must submit an application on BGP (Business Grants Portal). You must have your CorpPass account details on hand. You may ask the pre-approved vendor that provided you with the quotation for assistance.