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ecommerce Government Grants for business omnichannel

The 7 FAQ about Productivity Solution Grant (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. 

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ecommerce omnichannel pos software

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.