Productivity Solutions Grant in Singapore
Topics To Be Discussed
Key Facts about the PSG Grant
2. 30% or more local shareholding;
3. Company is an SME.
Benefits of Singapore Productivity Solutions Grant (PSG) Grant
- Financial Assistance: PSG offers financial support to eligible businesses, co-funding up to 50% of the qualifying costs capped at S$30,000. This financial boost helps companies overcome budgetary constraints and accelerate the implementation of productivity-enhancing solutions.
- Enhanced Productivity: PSG encourages businesses to adopt technology solutions that streamline processes, automate manual tasks, and optimize operations. By leveraging PSG funding, organizations can implement innovative tools and equipment to improve productivity, reduce operational costs, and gain a competitive edge.
- Increased Competitiveness: With PSG, businesses can leverage advanced technologies and upgrade their capabilities to gain a competitive advantage. By integrating digital solutions, organizations can enhance their agility, responsiveness, and overall competitiveness in the marketplace, positioning themselves for sustainable growth.
Eligibility Criteria for PSG Grant Singapore
To be eligible for the Productivity Solutions Grant, businesses must meet the following criteria:
The company should have at least 30% local equity, held directly or indirectly by Singapore citizens or permanent residents. The determination of local equity ownership is based on the ultimate beneficial ownership concept.
If your business belongs to a corporate group, the combined annual sales turnover of the company and its related entities within the corporate group must be less than S$100 million OR the total employment size of your company and its related entities within the corporate group must be less than 200 employees.
How to Apply for PSG Grant
How We Can Help with the Singapore PSG Grant
This series of articles regarding Singapore government incentives was prepared by CorporateServices.com, a leading Singapore-based corporate service provider. We offer a range of services for private limited companies in Singapore. Our team of experienced experts provides Singapore company registration and other incorporation-related services through our cutting-edge online platform.
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