Benefits of eCommerce PSG package

Singapore has long been regarded as having one of the world’s strongest economies. This is due to the several enterprises that are now functioning here. These companies come from a variety of industries, including mining, engineering, and even healthcare. They are the foundation of Singapore’s robust and resilient economy.

Singapore is also one of the greatest areas to do operations, having been voted the world’s most business-friendly and open-market economy in 2020. Aside from that, it is the world’s third-least corrupt country. This makes it an even more appealing place for entrepreneurs. Naturally, all industries in Singapore are packed with many rivals.

This complicates and complicates conducting business in Singapore. Singapore, on the other hand, recognizes these problems and offers assistance to firms. Offering various gifts is one method to express support for the aforementioned companies.

Grants for business in Singapore

These awards assist all types of enterprises in starting or expanding their operations. Singapore, for example, presently provides two types of startup incentives. These awards provide a wide range of services such as financing for mentorship and expanding business networks.

Grants are also available for firms interested in expanding into foreign seas. The LEAD Programme award assists small and medium-sized businesses in upgrading and expanding internationally.

The most sought-after grants, or those made available to Singapore-based firms. Grants given by local businesses, like the other two types, aim to assist fund and improve business operations. The productivity solutions grant, or PSG, is in high demand these days since it focuses on IT solutions for organizations. If you wish to learn more, we will discuss the eCommerce PSG package and other aspects of this award.

What exactly is a Productivity Solutions Grant?

If you want to improve your business, there are several things you should focus on to make things easier. The award for productivity solutions especially assists you with IT solutions and equipment. This award recognizes that technology is more than simply sophisticated, high-end tools.

This was established in April 2018 to help small and medium-sized businesses. SMEs can use this award to implement IT systems and other equipment to improve their business operations. The eCommerce PSG package is one of the elements covered in this award.

eCommerce PSG provides industry-specific answers or solutions. Retail, logistics, precise engineering, construction, cuisine, and even landscaping are among these businesses. Because technology is such a broad field, the eCommerce PSG package includes customer management, data analytics, inventory monitoring, and financial management. This solution includes the development of an eCommerce website for local businesses.

The maximum funding provided by 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.

Eligibility

As previously stated, the eCommerce PSG package is intended for Singapore-based businesses. The following are the specific requirements that you must satisfy in order to be eligible for this grant:

  • The local firm must be lawfully registered and operating on Singaporean soil.
  • Companies interested in acquiring, leasing, or subscribing to IT solutions, equipment, or other services that will be utilized in Singapore should apply.
  • The firm shall have a minimum of 30% local equity for selected solutions under the PSG grant eCommerce package.
  • When applying for selected solutions, it must also have at least three local employees.

How can I obtain the eCommerce PSG package?

The application process would take place on the Business Grants Portal online platform. You may also use the same tool to determine your company’s grant shortfall. The following is an outline of how to apply for the PSG grant eCommerce package.

#1 Examine suitable solutions

If you want to apply for the Productivity Options Grant, you should first look into the potential solutions for your company. These solutions may vary based on the industry you are in and the demands of your company. As previously said, assistance can be financial, in the form of equipment, or in the form of consulting.

This can help you expedite your application. Keep in mind that you should only select those that are relevant to your company’s activities.

#2 Gather the necessary papers

Before you apply through the business grants site, you must have all of the essential information and papers in order for your application to be successful. Other requirements vary depending on the solution you choose.

If you want an IT solution, you must obtain a quote from a pre-approved vendor. This allows concerned agencies to evaluate your proposal based on the amount of investment required. If you are interested in obtaining the required equipment, there should be a source for the equipment as well as a quote from the seller. If you are more interested in consulting services, a pre-approved consultant should be able to give a quote.

#3 Send in your application

The application would be submitted using the platform of the business grants site. This is where you would enter the information and papers required by your firm. Remember that providing false information and legal papers may jeopardize your company application.

Advantages of the eCommerce PSG bundle

Improved cash flow

The productivity solutions grant allows your company to purchase required instruments without spending a lot of money. Because the PSG grant eCommerce package may cover up to 80% of the entire cost of the solution, you may be able to invest your money in other parts of your organization.

These sorts of possibilities or benefits are especially beneficial for small and medium-sized businesses trying to operate in a market like Singapore. It might provide business owners with the opportunity to grow other operational areas of the company.

Professional assistance is available

Because the Productivity Solutions Grant is more than simply cash, the consultation services it provides are extremely beneficial, particularly to start-ups. When it comes to offering answers to company operations, these small and medium-sized businesses might seek expert advice. This type of chance may catapult a company’s success to new heights.

Solutions tailored to certain industries

As previously stated, the Productivity Solutions Grant provides sector-specific assistance. It ensures that the assistance and support it provides are beneficial and beneficial to the business. Because there are many various types of tools and assistance, not all of them can be suitable and acceptable to all types of businesses. Being able to build or modify a solution that is particularly customized to your business’s demands would be quite beneficial and would lead to improved operations.

Let us get started right now

If you want to apply for Singaporean grants, you’ve come to the correct spot. Digital Solutions can assist you with acquiring a PSG grant eCommerce package that is suited to your company’s needs. To use our services, please contact us right away.

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