Explain Like I’m 5: What is the PSG Grant?
The PSG Grant is a government granted backed by the Singapore government to subsidise expenses of local businesses.
Specifically, the PSG Grant helps to subsidise up to 80% of all eCommerce web development services. For instance, if you’re a shoe retailer looking to digitise your business and set-up an eCommerce store, there’s no better time than now. The Singapore government will pay up to 80% of your eCommerce development!
Note: The PSG Grant can only be used for PSG-approved vendors and does not apply to freelance web developers.
Why Do I Need An eCommerce Store?
The answer is: you might not. But more often than not, businesses need some sort of customised website with eCommerce functionalities.
For example, a piano school may collect payments from students in person.
But lesson bookings are an eCommerce feature. Instead of using an Excel sheet, why not have your booking system integrated with your website to have it be done automatically?
More importantly, why not do it now with the Singapore government subsidising up to 80% of your web development costs?
Frequently Asked questions
I need more details. What exactly is the PSG Grant?
PSG stands for Productivity Solutions Grant. The PSG Grant was launched Enterprise Singapore, a Singaporean government agency that supports local businesses.
The PSG Grant is only available to Singaporean businesses and can only be used for IT solutions (e.g. eCommerce website development) and equipment to improve business operations. For example, you can apply for a PSG Grant to purchase a new laptop for your employees. However, you can’t use the PSG Grant to purchase a sports car that you’ll use for fun. In addition, you cannot sell any machinery purchased under the PSG Grant. If caught misusing the grant, you may have to faces consequences from the government.
Who is eligible for the PSG Grant? Is the PSG Grant available to MNCs?
The PSG Grant (for eCommerce web development) is only available to small local businesses incorporated in Singapore. The business cannot be a nonprofit and must have a minimum of 30% shareholding by a Singaporean citizen or PR (Permanent Resident).
This PSG Grant is not available to (most) MNCs because there are additional requirements regarding your business’s revenue and number of employees. Revenue must be less than SGD $100 million to qualify and you must not have more than 200 employees. Since most MNCs have more than SGD $100 million in revenue and 200 employees, they don’t meet the PSG Grant criteria for our eCommerce development services.
I’m eligible for the PSG Grant! What type of eCommerce website can Wiz Marketing help to develop?
We can help to develop any eCommerce website that your business needs – ranging from a simple eCommerce website to a marketplace like Amazon.
Our eCommerce developers can build your eCommerce website on any platform. This means that they can build your website on WordPress if you’re a small business owner and want to edit anything yourself. Alternatively, then can custom-build your eCommerce platform in any programming language or framework either.