Singapore has long been regarded as having one of the world’s strongest economies. This is due to the variety of enterprises that are now functioning in the area. These enterprises hail from various sectors, including mining, engineering, healthcare, and even eCommerce PSG package platforms. They contribute to Singapore’s economy’s strength and resilience.
Singapore is also one of the top locations for operations, awarded the world’s most business-friendly and open-market economy in 2020. Apart from that, it is the world’s third-least corrupt country. This increases its attractiveness to company owners. So naturally, Singapore’s many industries are saturated with various rivals.
This complicates conducting business in Singapore. But, on the other hand, it recognizes these obstacles and lends a helping hand to eCommerce web design & development in Singapore. One approach to demonstrate support for the companies mentioned above is to present various awards.
Grants to Singapore businesses
These awards assist all types of enterprises in establishing or expanding their operations. Singapore, for example, now offers two distinct startup subsidies. These awards provide a broad range of services, including money for mentorship and expanding business networks.
Businesses that desire to seek international waterways can also apply for incentives. The LEAD Program award assists small and medium-sized enterprises in upgrading and expanding internationally.
The most sought-after grants are those that are available to Singapore-based businesses. Like the two types of annuities, local company grants are intended to assist fund and enhance business operations. For example, the productivity solutions grant, or PSG, is in high demand these days since it focuses on IT solutions for organizations. If you’re interested in learning more, we may discuss the eCommerce PSG package and other aspects of this award.
What is the Productivity Solutions Grant, and how does it work?
If you want to improve your business, there are several things you should focus on to make things easier. The award for productivity solutions is designed to assist you with IT solutions and equipment. This award recognizes that technology is more than simply high-tech gadgets. It will improve your eCommerce web design & development experience.
This program was started in April 2018 to help small and medium-sized businesses. SMEs can use this award to purchase IT systems and other equipment to help them run their businesses more efficiently. The eCommerce PSG package is one of the items covered in this award.
The eCommerce web design & development bundle contains answers or solutions tailored to the online industry. Retail, logistics, precise engineering, construction, cuisine, and even landscaping are among these businesses. Customer management, data analytics, inventory monitoring, and financial administration are included in the eCommerce PSG package because technology is such a broad field. The building of an eCommerce website for local businesses is included in this service.
The maximum funding available under the eCommerce PSG package is from 70% to 80%. This assistance will be available from April 1st, 2020, through March 31st, 2022, and will encourage SMEs to continue their digitization and upgrade initiatives.
As previously stated, the eCommerce PSG package is designed for Singapore-based businesses. Therefore, the following are the requirements you must satisfy to be eligible for this grant:
The Singaporean corporation must be lawfully registered and operating on Singaporean soil.
IT solutions, equipment, or other services employed in Singapore should be purchased, leased, or subscribed to by interested organizations.
The enterprise shall have a minimum of 30% local equity for selected solutions under the eCommerce PSG package.
When applying for selected solutions, it must also have at least three local employees.
How do I get my hands on the eCommerce PSG package?
The application process will take place on the Business Grants Portal, an online platform. You may also use the same page to verify your company’s grant shortfall. Here’s a rundown of how to apply for the eCommerce PSG package in general.
#1 Examine the best options
If you want to apply for the Productivity Solutions Grant, you should first look at the options for your company. These solutions may vary based on the industry you work in and the demands of your company. As previously stated, financial, equipment or consulting assistance can be provided.
This can assist you in expediting your application. Keep in mind that you should only select those that are relevant to your company’s activities.
#2 Gather the necessary paperwork
Before you apply for a business grant through the portal, make sure you have all of the essential paperwork for your application to run successfully. Other requirements will differ based on the solution you choose.
If you need an IT solution, you must obtain a quote from a pre-approved vendor. This allows concerned agencies to examine your application based on the amount of investment required. If you want to get the equipment you need, you need to have a source for it and a quote from the seller. If you’re more interested in consulting services, a pre-approved consultant should be able to offer you a selection.
#3 Send in your application
The application will be submitted through the business grants site. This is where you would enter the information and documentation that your organization requires. Remember that providing false information and legal papers may jeopardize your company application.
The eCommerce PSG package’s advantages
Improved cash flow
The eCommerce web design & development grant allows your company to get the tools it needs without paying a lot of money. In addition, because the eCommerce PSG package may cover up to 80% of the overall cost of the solution, you’ll be able to focus your resources on other areas of your organization.
These advantages or perks are especially beneficial to small and medium businesses striving to operate in a market like Singapore’s. In addition, it might provide an opportunity for business owners to grow other operational areas.
Professional assistance is available.
The advisory services offered by the Productivity Solutions Grant, which is not restricted to money, are also a significant benefit, especially to start-ups. When it comes to giving answers to company operations, these small and medium businesses might seek expert advice. This type of chance may catapult a company to new heights of success.
Solutions tailored to a specific industry
As previously stated, the Productivity Solutions Grant provides sector-specific assistance. It ensures that the aid and support it provides are beneficial and beneficial to the company. Because there are so many various types of tools and help, not all of them will be suitable and ideal for different businesses. Designing or modifying a solution that is appropriately matched to your company’s demands would be extraordinarily beneficial and contribute to improved operations.
Let’s get started right now.
If you want to apply for Singaporean grants, you’ve come to the correct spot. Digital Solutions can assist you in obtaining an eCommerce PSG package customized to your company’s needs. So contact us straight immediately and enjoy the use of our services.