The Productivity Solutions Grant (PSG) supports all SMEs who want to improve their productivity using pre-approved IT solutions to upgrade business processes. PSG is a helpful tool for companies that want to kickstart their digitalisation efforts. Now that funding support has increased from 70% to 80%, more companies want to enjoy the PSG benefits.

The PSG supports a variety of approved software solutions such as software license, setup, subscription, training, and data migration. PSG supports equipment also, but the equipment support is limited to a few industries like environmental services and Food & Beverages (F&B).

The PSG was updated in April 2020 due to the Covid-19 pandemic in order to support businesses that use laptop and telecommuting tools for facilitating business plans.

Three main categories of pre-approved solutions exist. These categories are:

• General solutions like Accounting, Customer Management & Inventory Tracking, and HR
• Sector-specific solutions like Fleet management and POS
• Covid-19 business continuity solutions like queue management systems, temperature screening solutions, and virtual meeting tools

Any SME that meets the criteria below can apply for PSG:

• Registered and operating in Singapore
• Have at least 30% local shareholding
• Purchase/lease/subscription of the IT solutions must be utilised in Singapore

1. Get a quotation for the pre-approved IT solution.
2. Go to Business Grants Portal and submit the PSG application. Kindly note that it’s not compulsory for SMEs to accept the quotation at this stage.
3. After you have submitted the application, you may start utilising the IT solution even before you get approval.
4. The PSG application you have submitted will be approved between 2 to 6 weeks after you submitted it.
5. Submit your claim online in order to get the approved funding.

Now that Skills Future Enterprise Credit (SFEC) and E-invoice Registration Grant (ERG) have been introduced, companies can now choose to benefit from all the 3 grants to defray their cost. Kindly note that the 3 grants are available only for a limited time, and a first-come-first-served principle applies to the order of application assessment.

Can I approach any vendor in the market for PSG application?

No. You should apply for PSG only with IMDA pre-approved vendors. Timcole is one of the IMDA pre-approved vendors.

Can you help my company to customise a package with other bundled items?

We are aware that every business has unique needs. However, PSG supports only pre-approved packages. Notwithstanding, we have a variety of packages you can select from. You’ll certainly find a package that suits your needs from our package collections.

What benefits will we enjoy if we buy from you instead of buying directly from Xero?

If you buy directly from Xero, you won’t get the PSG funding since Xero is not a pre-approved vendor like Timcole. We are a partner of Xero, and we deliver value-added services like setup, personalised training, data migration, support, and accounting-related services.