Top 8 PSG approved Software

PSG approved Software

What is Productivity Solutions Grant (PSG)?

PSG ( Productivity Solutions Grant) is a grant that supports companies who want to adopt IT solutions and equipment to enhance their business process.  Below listed some PSG approved software in Singapore. PSG covers retail, food, logistics, engineering, construction and landscaping industries.

Eligibility Criteria

1. Registered and operating in Singapore

2. Purchase/lease/subscription of the IT equipment must be used in Singapore   

3. Having a minimum of 30 percent of local shareholding or less than 200 Employees.

Grant

PSG Grant can provide funding support of upto 80 percent of the qualifying cost upto the total grant cap of $350,000 per company. PSG approved software for all Retail business, Automobile, Manufacturer and Wholesaler in Singapore.

How to Apply

1.Visit the GObusiness GOv Assist website to access the list of PSG approved solutions

2.Get the quote from the desired vendor

3.Login to the Business Portal with the Corpass Id and submit the claim

4.If any queries arise, the IMDA will raise the queries and send them to the registered email address.

5. It takes about 6 to 8 weeks for the claims to be approved.

6. The letter of approval will be sent to the registered email address.

Top 8 PSG approved Vendors in Singapore

1. Moiboo Software

Moiboo Software

NameMoiboo Software
Website  https://www.moiboo.com/
Contact+65 98951817
ServicesRetail,Automobile, manufacturing&distribution , Services

2. Eisol Pte Ltd

Eisol Pte Ltd

NameEisol Pte Ltd
Website  https://www.eisol.net/
Contact+65 6681 6538
ServicesRetail, F&B, Salon& Spa

3. Amaxpos System Services

Amaxpos System Services

NameAmaxpos POS system
Website  http://www.amaxsystem.com/
Contact+65 67454233
ServicesRetail, F&B, Salon& Spa

4. AZ Digital Pte LTd

AZ Digital Pte LTd

NameAZ Digital Pte Ltd
Website  https://www.azdigital.net/
Contact+65 67451147
ServicesRetail, F&B

5. Coobiz IT solutions Pte Ltd

Coobiz IT solutions Pte Ltd

NameCoobiz Pte Ltd
Website  https://www.coobizit.com/
Contactsales@coobizit.com
ServicesRetail, Salon & Spa

6. EPOS Pte Ltd

EPOS Pte Ltd

NameEPOS Pte Ltd
Website  https://www.epos.com.sg/
Contact+65 6871 8833
ServicesRetail,Automobile, manufacturing&distribution , Services

7. Edgeworks Pte Ltd

Edgeworks Pte Ltd

NameEdgeworks Pte Ltd
Website  https://www.edgeworks.com.sg/
Contact+65 6750 4498
ServicesRetail,F&B, Wholesaler, Beauty&Salon

8. Weebo

Weebo

NameWeebo
Website  https://www.weebo.com.sg/
Contact+65 6850 5177
ServicesRetail,F&B, Services,Events

Conclusion

Many companies have become dependent on the PSG grant for resuming their businesses and adapting to technological changes. PSG grants have been proven to be a big boon to the companies as it gives them an opportunity to enhance their business activities and adapt to the latest trends in the digital world.

How to apply PSG Grant in Singapore : Click here

How the Government Grants help the business in Singapore?

How the Government Grants help the business in Singapore

Singapore is a business-friendly system due to the grants and incentives are available for the companies to grow their business.

There are six major grants and incentives that the companies can opt for;

1. Productivity Solutions Grant

Productivity Solutions Grant came into effect in April 2018. The PSG grant funds up to 70% of the cost for qualifying activities under the retail, food, logistics, Engineering, wholesale, Construction, Landscaping etc.

It is used by businesses to support the use of solutions in financial management, inventory tracking, customer management, data analytics etc.

The PSG grant supports small businesses by making funds available to them for upgrading their business. 

2. Enterprise Development Grant

  • This grant supports the Singapore business in the areas of
  • Market and business development
  • Innovation and productivity
  • Core functions and capability

To qualify the business must be a local company registered in Singapore having at least 30% of the local shareholding and having an annual turnover of $100 Million or having at least 200 employees.

The Grant offers up to 70% of funding support. This grant helps new business explore innovative production. It helps in making the business a profitable venture, it helps the business enjoy higher savings during the first few years of its establishment.

3. PACT

This Grant aims at enhancing collaboration between large multinationals and local companies. This grant encourages small and medium-sized businesses to partner with each other to facilitate business innovation and growth. The grant funds 70% for SME and 50% for non-SME.

The companies need not restrict themselves. The small businesses can benefit from the networking and experience of the larger companies. 

The larger companies that act as the lead companies need to be registered in Singapore and the smaller companies can be either local or foreign companies. 

4. Double tax deduction for Internationalization

It encourages businesses to move towards international expansion and internationalization. The businesses are entitled to a 200% tax deduction up to $150,000 on expenses for these activities.

The activities are limited to the following;

  1. Overseas business trips
  2. Overseas trade fairs
  3. Market surveys
  4. Investment feasibility
  5. Expenses of Singaporean staff.

This grant helps to reduce the tax burden of the companies and make the businesses have more money in their hands.

5. Market Readiness Assistance Grant

This Grant was established to access overseas opportunities. The Grant provides 70% support.

It helps in the following areas;

  • Market set up overseas.
  • Identifying partners, licenses, agents etc.
  • Market promotion

The headquarters of the company should be in Singapore with an annual turnover of 100 million or 200 employees.

IT helps the business to expand internationally. 

6. Venture Debt Programme

 This government grants help the companies to access loans up to $5million for project financing, asset financing and acquisition purposes. This grant helps the business to set up and expand their business. This grant was initiated for small Singaporean businesses to be eligible for a loan. The requirement is 30% local ownership and less than 200 employees.

Conclusion

The grants and incentives provided by the Government make Singapore a business-friendly regime. The new grants are targeted towards specific needs of Singapore business.

For more details, please visit our website: Moiboo Software

Call Us for more queries: +65 9895 1817