How Do Get PSG Grant For Singapore Businesses?
productivity solutions grant
A PSE-GC (Public Sector Enterprise) Grant or PSG grant is a government grant designed to boost local companies’ competitiveness and productivity. It provides funding to small businesses whose annual revenue does not exceed $20 million and who do not have access to commercial financing.
The PSG grants are provided under four categories:
• Start-up Grants — These are intended for the establishment of a company. They cover set-up costs including legal fees, accounting services, HR staff training and start-up capital.
- Expansion Grants — This category aims to develop and strengthen companies.
• Maintenance Grants — To improve competitiveness and productivity, these are granted to companies that are already operating.
• Research Grants — These are awarded to innovative ideas that could lead to future products and technologies.
To qualify for the PSG grants, the following criteria should apply:
• Your company must be registered for GST;
• You must have been operating for at least 12 months prior to applying;
• Your average monthly sales must be less than S$10 million; and,
• Your total assets should not exceed $50 million.
This is not an exhaustive list of what constitutes a qualifying company, as we understand that each case is unique. We will advise you on how best to structure your business, and how to meet the eligibility requirements.
QuickHR is a pre-approved digital solution for Enterprise Singapore’s Productivity Solutions Grant (PSG) and a Skills-Future Enterprise Credit (SFEC) supportable programme.
Find out about the different grants available today and discover the best HR software for SMEs in Singapore.
Please contact us if you would like further information about the PSG grant.
