The 7 FAQ about Productivity Solution Gtant (PSG) for SME client

eCommerce is one of the pre-approved solution listed on PSG grant portal.

Most small-medium enterprises (SMEs) in Singapore looking for IT solutions will or would already have come across the Productivity Solutions Grant (PSG), especially those looking for eCommerce solution providers. However, with so many sites offering different information, it can be confusing for any SME business owners in approaching this topic.

With up to 70% funding support, PSG serves as an avenue for companies to support companies keen on adopting IT solutions and make long-term technology investments to enhance business processes.

Other than sector-specific solutions, PSG also supports the adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management, inventory tracking, and most importantly, eCommerce solutions in Singapore. 

As part of our duty in becoming an IMDA-approved vendor for PSG grant, we’ve decided to help SMEs in Singapore to better understand this additional support from the local government.

Without further ado, here are 7 of the most frequently asked questions under the Productivity Solutions Grant (PSG): 

Q1: What are the documents required for companies to be able to apply for the Productivity Solutions Grant (PSG) successfully?

Every official application requires supporting documents. For the PSG application, you’ll require the following documents:

  1. a Purchase Order or signed acceptance of Quotation/ Contract,
  2. an invoice,
  3. screenshots showing the company’s name and the name of IT solution,
  4. licence number(s) of software with a minimum of one-month usage report,
  5. receipt or copy of cheque payment and
  6. bank statement showing the payment. 
Q2: Can I claim for IT solutions before the application date under the Productivity Solutions Grant (PSG)? 

Definitely, no. Any IT solutions claimable under the Productivity Solutions Grant must only be paid after the application date.  The application must be made before the signing of the invoice/quotation/engagement letter with the solutions provider, payment to the solutions provider and commencing of any work for the project. Paid and claim is consider Retro claim which is a violation stated on the PSG terms.

Q3 Who is eligible under the Productivity Solutions Grant (PSG)?

If you’re an SME registered and operating in Singapore with a minimum of 30% local shareholding and looking for IT solutions such as our eCommerce website development, You’re eligible for the PSG.

For start-ups with less than 6 months of operating period, you can still apply for the PSG but it will be subjected to the Enterprise Singapore (ESG)’s assessment.

Q4: What are the payment terms accepted? When can I claim my expenses under the PSG? 

A: Most of the usual business payment terms are accepted for the PSG claims, such as cheque and bank transfer. 

For credit card payments, the owner of the card has to be the sole proprietor, or in the case of corporate entities, there has to be an official document stating that the expenses incurred were by the company and not of a personal nature. Reimbursements to the director/individual who has paid using their credit card will have to be shown as well.

The claims must be submitted after the solutions are used and expenses are fully paid for; and before the 13th-month mark after approval for purchases and 7th-month mark after the approval for hire purchases, subscriptions or leases.

Q5: Is there a cap to the number of packages or applications for each SME? 

You can apply for more than one solution under the PSG but the deployment location of each solution must differ. 

For applications supported by Enterprise Singapore (ESG), there is also a grant cap of $30,000 for each business entity between 1 April to 31 March of every year. 

Be sure of the solutions you need each year before you jump into it!

Q6: Can the quotations from vendors be modified to add or include extra complimentary items/services? 

Unfortunately no. As much as we love to customise the quotation to fit every customer, the quotation may not differ from the packages we submitted for the Productivity Solutions Grant (PSG). Differing non-approved quotations will be rejected. 

Additional items must be quoted separately and amendments to the packages must be approved again by the IMDA. 

Q7: Can the pre-approved vendor submit the application for me?

We would love to but regrettably,  all submissions must be made by the organisation themselves.

Not to worry, our sales representatives are more than happy to guide you through the process. 

Hopefully, some of your questions were answered above, if not feel free to contact our sales team to inquire whether you’re eligible for this grant.

As an IMDA-approved eCommerce website design agency ourselves, we’re confident that we can support your business needs for the best value at a subsidised rate. 

All You Need To Know About The Productivity Solutions Grant (PSG)

Today, technology has incorporated the use of high-end and expensive solutions. You can start at a lower level by automating the simple existing processes in your business to improve its productivity. The Singapore Government has introduced the Productivity Solutions Grant (PSG) in a move to encourage and support businesses in their transformation journey. The transformation requires a massive investment in digital marketing and more long-term commitments. The productivity solutions grant will help companies to purchase and adopt new technological solutions in an aim at remaining competitive in digital marketing. The Productivity Solutions Grant is dedicated to supporting the business firms that are interested in adopting information technology solutions and equipment’s to make their business processes more effective and efficient. This article will go through all what you need to know about the Productive Solutions Grant.

The Productive Solutions Grant is focused on adopting internet technology solutions in several selected industries. These include retail, finance, logistics, engineering, food, and landscaping industries. PSG has brought together three types of existing grants including national parks board ‘s landscape grant, spring Singapore innovation voucher, and Media Development Authority‘s SMEs Digital programme. The Government simplified the overall awards into one main PSG. You can now apply for the support under one grant scheme. These solutions have been previously pre-copied by the Government mentioned above agencies. However, in case your business SME does not readily fit any of the industries, PSG offers some adoptable solutions such as digital customer relationship management and human resource management that cuts across all sectors.

The PSG provides one of the significant financial breakthroughs to most companies. According to the global commercial banking, adopting technological changes in your business is essential as it brings cost benefits that enable the state to attain sustainable growth in the long run. The programme offers about seventy percent funding support to the Singapore companies. This will give them a chance get into long-term digital technology investments. The tech Depot can provide the list of the readily flexible solutions. Companies that want to undertake the schemes can apply the Productivity Solutions Grant for a more substantial one grant scheme. Among the support of pre-approved solutions, to be streamlined into a productivity solution grant include the SMEs Go digital programme.

The Government of Singapore is ready to allocate about $110 million in financial assistance to the company that will get into the modernisation strategy of their business through the Productivity Solutions Grant. The Government has integrated PSG to work together with industry transformation maps (ITMs) in a motion seeking to promote partnership between the industries, the local business, and the Government. Why is ITMs integration necessary? Industry transformation maps act as the guideline in the determination of Government digital transformation support. The Singapore Government can group industries as a group of six through ITMs. This collaboration is critical in making Singapore home of productive and innovative SMEs.

The revolution of IT solutions is fast growing through the incorporation of social media marketing, online marketing, and search engine optimisation. In that case, most of the businesses downfall is as a result of poor digital marketing strategy. Company development ‘requires a vast lead generation investment to keep it competitive in online marketing. Online marketing has become a huge investment for small and big investors and has had tremendous growth especially in Singapore. About fifty-five percent of Singaporeans accessing the internet use their devices to search or purchase products. This proves the need for the companies to apply for the production solution grants to try and sell their business brand to the demographic market.

A solid SEO foundation is crucial in making sure your business delivers. A necessary SEO audit provides a tool that guides you on the online marketing areas you need to focus. SEO gives your website an online presence. This makes it simple for individuals looking for you to quickly find you and convert from visitors to clients. Many tools provide an SEO overview. However, knowing how to perform the basic SEO audit using free tools is a skill that will ensure your time on SEO is beneficial. You are the one who knows your business best than any other hence being able to perform a basic SEO audit will profoundly empower you.

Today, business digital transformation and automation is crucial in all business firms. Your business cannot afford to work manually in calculating and keeping its marketing records. The Government is funding for innovation of these local businesses through PSG. The grants will provide a computerised accounting that is more accurate and gives the online marketer more room in concentrating on other business matter. Additionally, use of automated transactions places your business at the exposure of a larger area of online users. You can gain access to more potential buyers and also gives you an ideal platform for company marketing campaigns.

Your company is your brand. The social media, e.g., Facebook will never be your company and while it may be a popular and best advertising platform, that might change in the future. The social media will build your business brand, or you may not have the same popularity in the coming days. You, therefore, need to have a marketing strategy that you will progressively build your business brand in unlimited duration. To have a business without a real webpage regarding an available, lead generating website with a blog feature is a cynical mistake. The PSG enables you to make changes to your business platforms frequently. The static sites that give you overnight traffic after posting are already outdated.

How does the Productivity Solutions Grant help SEMs remain competitive? Businesses need productive employees in ensuring that their services or products offered are effective and efficient. Search engine optimisation is arguably a perfect strategy for business development. You need to appear in the search engines top and first page. SEO helps to promote high traffic and lead generation.

A creative project brief is required for effective execution by your advertising agency. You should have well aligned strategic objectives and niche tactics for you to apply for the PSG. A creative brief involves documenting the project scope, goals and all deliverables. A creative brief gives details on the target audience, their current beliefs, what you want them to believe and why they should believe in it. You should ensure your online agency contributes to the strategic planning and give it time for iteration. This will allow the full input of all the agency workers in the organization.

The PSG may be a Government tool in aiming for economic growth. The Government provides a finding of up to seventy percent to the SMEs. Other companies have raised offering to fund businesses with a quite reasonable amount in countering the PSG. This increases competition between local businesses resulting in industrial growth. A good example is Innovation and Capability Voucher (ICV). Many Singapore digital agencies offer search engine optimisation services. They provide experts that work to fix your website errors. These companies are experienced in digital marketing and are aware of the extensive and intensive deployment of appropriate keywords and ads on the website in a move to attract more leads. Huge online traffic will be generated through SEM and SEO. The affected solution providers will direct their SME clients apply for the PSG support on business grant portal.

How Do You Become Eligible for Productivity Solutions Grant?

SMEs companies are eligible to apply for the PSG grant if they are registered and based in Singapore. Additionally, the information technology solutions or equipment’s, lease and purchase will be in Singapore. The SME applying for the grant should possess a minimum local shareholding of thirty percent. Another condition for the SEMs applying for the grant is that their annual turnover should not be exceeding $ 100 million. More so, the company’s employee should not exceed two hundred employees.

How Do You Apply for Productivity Solutions Grant?

To apply, you will go through the list of supportable solutions featured on Tech Depot. Select the relevant solutions that are useful in your business. You will then obtain a quotation from a pre-approved vendor who will supply you with the IT solution and equipment. Finally, you will submit your grant application through the business grant portal. You should ensure that you register to get a CorpPass account. Below are the steps on how to apply the PSG.

#1. Login into The Business Grants Portal

The portal has clear details requesting you to register with CorpPass. Click on the register tab to immediately register with CorpPass.

#2. Use the CorpPass To Login to The Portal.

Click the login tab at the bottom right hand and fill in the CorpPass logins. These include an entity ID, CorpPass ID, and password.

#3. Click on Get New Tab

After your login into PSG account, there three options depending on what you want to do. You can either edit company profile, get a new grant or learn to apply. Click on get new tab middle tab.

#4. Choosing on The Industry Sector

The new window that opens requests you to choose the industry sector that fits best in your business. The options include landscape, services, building and construction, logistics, tourism, food and beverages, retail, manufacturing and engineering, information technology, media, and others.

#5. Click on Select Grant After Choosing Your Business Industry Sector.

Cricking on select grant brings two options on the display. You should choose the second option that features upgrading the critical business areas, adoption of technology, improvement of business processes and raising of service standards. Do not select the option stating that you want to make your business international and establish its overseas presence.

#6. Choosing of The Grant Type

The next window brings options about the best description of the area of your company you will develop using the grant. Among them include service excellence, human capital development, financial management, branding and marketing, standards adoption, pre-scoped productivity solutions, and business excellence. You should choose the pre-scoped productivity solutions option.

#7. Proceed Tab

This section has some vital information for you. It makes you aware of the requirements for completing the grant application. You will need your vendor’s quotations and the product brochures. The grant application attachments and company profile should not be more than fifty MBs in size. You should scroll down the page and click the on proceed tab.

#8. Verification of Your Eligibility Status

The page has a list of the things you must meet to qualify for the grant. Below is the query on whether the applicant meets the eligibility criteria. You should tick the yes option to verify that you are eligible for the grant and click next.

#9. Completion of Business Information

It is mandatory for you to fill in the contact details including your name, job title, and contact number.

#10. Proposal Details

You should search for the IT solution option and select the IT solution. Fill in the required questions. Infusionsoft CRM is ideal in filling in with the customer relationship management.

#11. Uploading of Vendor Quotation

Fill in scale-up marketing Pte. Ltd at the vendor details additionally, upload the supporting documents and selected vendors quotations. Each document should not contain more than ten MBs.

#12. The Purchasing Cost

The purchase price should include all the delivery, installation and training charges. Enter the purchasing cost and click on ‘next.’

#13. Answering Questions on Potential Business Impact.

You need to answer questions including how the solution will change how you do things. More so, you will answer questions about productivity gains on how your task will be more efficient after the grant. Answer the questions and click next.

#14. Review of Declarations and Acknowledgement

You are supposed to go through the contents of consent and acknowledgment. If you agree with the acknowledgment, tick the consent tab and click ‘review.’

#15. The Final Declaration

You should check and review all the items to confirm that they are correct. If everything is as you would like it to be, make the final declaration and click the bottom ‘submit’ icon. You have successfully applied for the Productivity Solutions Grant.

In conclusion, productivity solutions grant promotes the Singapore SMEs in various sectors in their journey towards improved competitiveness, higher productivity, and digitalisation. The grant will in future have an option to incorporate more IT solutions and equipment. The introduction of PSG will see Singapore rise to become a global city through digital productivity, innovation, and skills.

The 3 Government Grants design for Singapore Retailer (Latest)

Singapore government grant available to help SME to increase productivity and save cost.

The universal rule applied whether you are a startup SME or multi-national corporation (MNC).

Maximise profit and minimise Cost

Most company focus on maximise profit and overlook on how to save money. First thing that come into your mind about cost saving is probably tighten up spending. If you are a local businesses, the good news is that you can leverage on the government grants available in the market to help you save cost. 

The perk as Singapore retailers, you have as many as 10 different types of government grants cater for start up, local companies or partnership programs when you broaden your territory oversea.

Amongst all, we have shortlisted the top 3 important grants that you should pay attention to.

The Top 3 Government Grants for Retail Business

  1. Productivity Solution Grant (PSG)
  2. Enterprise Development Grant (EDG)
  3. Market Readiness Assistance Grant

1. Productivity Solution Grant (PSG)

Grant objectives

PSG grant aims to support local companies with adoption of IT solutions and equipment to enhance business processes and increase productivity through automation.

Eligibility

  • The business entity must be registered in Singapore
  • Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore
  • Have a minimum of 30% local shareholding (for selected solutions only)

Grant support

Up to 70% funding support, for companies making long-term technology investments

PSG is the most accessible grant scheme for retail business as retail industry is one of the key sector that government encourage to embark on digital transformation. Retail sector contributes up to $35 bil annually, from 21,000 establishments. You can get support from PSG when adopting eCommerce solution (eg. Shopify), Omni-channel POS System (eg. Vend), or integrated cloud accounting system (eg. XERO).

See the full list of supported solutions on Tech Depot

The application process for PSG is straight forward where you can find out the details step by step guide here.

Who should apply

Retailer who has yet to upgrade from the cash register system are likely to benefits from electronic POS System (ePOS) using PSG.

Unlike cash register systems, ePOS system such as Vend, is one of the recommended brand for managing multi-outlet retail business. The cloud based point-of-sale system enhance inventory management, customer engagement and giving real-time information which empower business owner to make strategic decision.

One great example is the multi-outlets fashion retailer, OMOSE who benefits from PSG grant to deploy Vend Retail Management System to all his outlets, integrate with Shopify eCommerce, XERO accounting software and enable Omni-channel Loyalty program at one go. The fashion retailer has since experience the cost saving, revenue increase with greater customer retention.

Solution Pricing

Singapore retailer can purchase Vend pre-approved package at $5100 and get subsidy up to $2670 to enjoy all the benefits that advanced IT system can benefits them. And they can purchase multiple packages up to $30,000 for retailers who has multiple outlets.

Related links

2. Enterprise Development Grant (EDG)

Grant objectives

EDG grant is design for company that has already transform with basic digital solution such as POS System or accounting system to strengthen the business foundation and further enhance and optimise the process for further scaling. You can regards that as “Phase 2” digital transformation.

The Enterprise Development Grant (EDG) helps Singapore companies grow and transform. This grant supports projects that help you upgrade your business, innovate or venture overseas, under three pillars:

Core Capabilities – Projects under Core Capabilities help businesses prepare for growth and transformation by strengthening their business foundations. These should go beyond basic functions such as sales and accounting.

Innovation and Productivity – Projects under Innovation and Productivity support companies that explore new areas of growth, or look for ways to enhance efficiency. These could include reviewing and redesigning workflow and processes. Companies could also tap into automation and technologies to make routine tasks more efficient.

Market Access – Projects under Market Access support Singapore companies that are willing and ready to venture overseas. You may tap into the EDG to help defray some of the costs of expanding into overseas markets.

Eligibility

  • The business entity must be registered in Singapore
  • At least 30% local shareholding
  • Be in a financially viable position to start and complete the project (Applications will be assessed by Enterprise Singapore based on project scope, project outcomes, and competency of the service provider.)

Grant support

The grant funds up to 70% of qualifying project costs namely third party consultancy fees, software and equipment, and internal manpower cost.

Related links

3) Market Readiness Assistance (MRA) Grant

Grant objectives

The MRA Grant aim to assists Singapore SME to expand their business to oversea and participate in activity such as market entry, or participation in a trade fair.

Eligibility

  • Business entity is registered/incorporated in Singapore
  • At least 30% local shareholding
  • Group annual turnover not exceeding S$100 million per annum based on the most recent audited report, or group employment not exceeding 200 employees

Grant support

Up to 70% of eligible costs, capped at 20K per company per fiscal year that covers

Related links

More good news

You can apply all these 3 grants together as they are not mutually exclusive. However, you should plan your resources well to maximize the outcome of the grants.

You can visit Business Grant Portal and start applying

How Shopify is Changing the Ecommerce Game for Good

It’s a new year, which means we are in the season of change. Brick-and-mortar stores are increasingly moving online, while famed ecommerce brands like Warber Parker are now opening up brick-and-mortar stores. Up is down. Down is up. And nothing in commerce is the same it was a decade ago.

The distinction between online and physical retail is more blurred than ever as consumers seek out dynamic shopping experiences that adhere to their fast-paced 21st century lifestyles. At the forefront of this sea of change is the suite of ecommerce tools that makes online engagement and POS fluid: Shopify. 

If you run a business in the 21st century, you know about Shopify. Yet despite the pervasiveness of this platform, few truly understand the significant ROI it offers. Born out of necessity, Shopify founders developed this flexible platform after discovering that current ecommerce options were inadequate for selling their snowboarding products. They built the platform using open-source framework and have since built out its capabilities to include marketing, POS, and user engagement features.

What, exactly, is Shopify?

Shopify is one of those solutions that is frequently brought up in marketing and ecommerce conversations. Everyone nods agreeably, but few actually understand the logistics of the platform. Put simply: Shopify is a suite of products used for ecommerce and online point of sale transactions. Put not so simply: Shopify is a platform that allows those with a limited budget to enter the ecommerce space, allows those with larger budgets to grow their brand, and, maybe most importantly, allows brick-and-mortar stores to bridge the gap between their online sales and in-person business, thanks to a proprietary POS system.

Shopify is a lot of things to a lot of different businesses, which is why it has become ubiquitous among successful ecommerce and online marketing this last decade. Sell products online, in a store, on social media, after concerts at the merch booth, etc. — the flexibility of the platform allows businesses of all sizes to sell the way they want.

According to Shopify, its suite of products and services are scalable to businesses of any size. Physical sales, digital sales, consultations, memberships, ticketing, lessons, and rentals — this platform is meant to be a one-stop “shop” for all things ecommerce. This is especially appealing to aspiring entrepreneurs who find it difficult to enter the industry, or for established brands looking to extend their reach.

Why platforms like Shopify are the future of ecommerce 

Global ecommerce sales are projected to hit nearly $5 trillion in the next year. This represents a 265 percent growth change compared to 2014. This growth can largely be attributed to new opportunities in the global market. Over the next year, nearly 20 percent of ecommerce sales will be attributed to consumers overseas. Same goes for the domestic consumer base — as the Internet breaks regional divides and cultural boundaries, ecommerce gives consumers an opportunity to engage with foreign brands like never before.

Business is booming, and this business needs a strong infrastructure to support this unprecedented growth. Shopify is currently the competitive big dog in the ecommerce world, but it’s not the only game in town. Square Space, Wix, Big Commerce, and others also offer ecommerce site building features. However, what makes Shopify stand out, and makes it the most competitive option, is its versatility. 

A cohesive ecommerce experience depends on the cumulative success of many factors. Branding, building an audience, cataloging products, support features, etc — all-in-one platforms like Shopify help to reduce the barrier of entry for anyone interested in buying a businesses by making ecommerce turnkey. 

Whether you’re selling handmade jewelry out of your basement or designer dresses from Milan, ecommerce gives everyone a shot at establishing a customer base. Ecommerce is the great equalizer. No longer do deep pockets automatically equate to lasting business. Today, savvy strategy, a resonate brand, and even altruistic business practices can lead to repeat business. Thanks to platforms like Shopify, the barrier for entry into the ecommerce landscape has never been lower — anyone with a good idea, a strong work ethic, and a little luck can have success in the online marketplace.

Are You Doing Enough with Your Restaurant Data?

Between your POS system, your forecasting/scheduling software, your inventory management system, and every other system you have, you’re collecting data on just about everything that goes on in your restaurant. Maybe you even have some insight into the data of your competitors. Here’s the problem: you have all kinds of data, but not many insights. If you’re not making business decisions based on the data you collect, what good is that data? Here’s how you can use the tools at your disposal to create actionable insights for your business.

Engage your team

Every restaurant manager regularly reviews all kinds of store information—from hard data like sales and labor, to soft data like Voice of Customer information. The group that sees this kind of data the least also happens to be the group that can have the biggest influence over it: your in-store employees.

If you broke a sales record during the Black Friday rush this year, share that info with the team that made it happen. If a customer gave negative or positive feedback about a recent experience, make sure your employees see that feedback. Get your employees engaged with the data and they’ll be more invested in your success.

“The single biggest problem in communication is the illusion that it has taken place.” — George Bernard Shaw

One of the best ways to share this data? Using your chat tools, like Crew, Slack, and so forth. Every day, share the wins and results of the day before with the team by sending out a quick message.

Think like a coach

The Chicago Bulls were an unstoppable force in the NBA from 1991 to 1993, due in no small part to the teamwork of Michael Jordan and Scottie Pippen. Were Jordan and Pippen great players on their own? Absolutely. But it was the combination of the two that made the Bulls unbeatable.

You probably already know who the Michael Jordan’s are in your restaurant. Take it a step further: in addition to identifying your best players, look for the best combinations of players on your team. If you have 10 percent better sales on nights when Stacie and Josh are working the same shift, schedule them together more often. If Karl isn’t the fastest at prep, but can wash dishes like nobody’s business, put him on the bench during the rush and bring him onto the court when it’s time to close.

You already have all that information by looking at the data at your fingertips! Review your schedule alongside your daily sales report and track results to determine who makes the best team. Take it a step further by observing them the next time they’re scheduled together to find just what makes them so good together. Use what you’ve learned as a coaching tool for the team.

Automate everything you can

A lot of restaurants outsource their payroll, but you probably still have to download your payroll information, package it up, and send it to your vendor—usually days in advance of payday. If you’re paying someone to handle your payroll, why are you still putting so much effort into the process? Many software solutions can automatically export data like payroll and send it where it needs to go. The same goes for sharing security information and sending data to corporate. If you’re doing something by hand, there’s probably software that could be doing it for you—and it might even be something you already own.

Trust but verify

Data can generate important business insights and save you time and effort—but every system needs oversight.

Let’s say your employees use an app like Branch or Earnin, where they can cash in the portion of the paycheck they’ve already earned before their regularly scheduled paycheck gets deposited. Typically, those apps verify their working hours by using their cell phone GPS to prove that they were in the restaurant for the time they claimed. 

Now, let’s say a particularly studious employee has been staying in the store for a couple of hours after every shift to study for school—but they’re not working anymore. While these apps are excellent and convenient tools, they are not perfectly accurate unless they’re integrated with your scheduling software. So, they might be tracking time for non-work time spent in the store.

If your employees use one of these apps, you should be regularly checking your scheduling data to make sure it lines up with how much your employees are getting via payroll—otherwise, you could be losing money that could get hard to track down the line.

Restaurant data can make your life much easier, but verify that it’s accurate by doing periodic manual audits to make sure it’s behaving the way you expect it to.

Many restaurant software solutions can help you sift through your restaurant data to find actionable insights to use. And the best part is, you may already have these tools at your disposal. Stop sifting through countless rows of spreadsheets and let your data management software do the heavy lifting, so you can focus on using your findings to improve your restaurant.