Enterprise SG is a Singaporean government agency with the mission to promote development among businesses in Singapore. Enterprise SG also has a mission to transform into a city for business activity and new startups with the highest quality goods and services in the world.
One way that Enterprise SG does this is via the PSG Grant which helps motivates Singaporean businesses to take advantage of new IT solutions and goods to improve their business’s efficiency. This helps Singapore’s economy since businesses will have higher revenues and lower costs, thus having a positive impact on the economy.
For example, if you’re a small business owner who’s currently doing bookkeeping and accounting manually in Excel, you could use an accounting software like Xero accounting. There has been several updates to the PSG Grant, but as of 2023, you can receive a subsidy of up to 50% if you meet the eligibility criteria. You may have to work with a pre-approved accounting firm, but your business operations will be efficient after taking advantage of an IT solutions for your accounting.