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Why your small business needs PSG grant online store

Why your small business needs PSG grant online store

Posted in: Business
Wed, Jul 21, 21, 16:17, 3 Months ago
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As technology continues to advance in leaps and bounds, businesses continue to move their operations online. The internet has become a vast avenue for both small-medium enterprises as well as large companies to showcase both their products and services within a digital environment. Sky’s the limit when it comes to the internet and costs are significantly reduced when processes and promotions are done online. 

Especially with the rise of the COVID-19 pandemic, it has become difficult for employers and employees alike to leave their homes. Given the high risk to contract the COVID-19 virus, work-from-home setups have become the new norm. eCommerce has been a major player in the digital world. People have become more attune to purchasing goods and services online without having to leave the comfort of their own homes.

Web solutions for Singapore establishments

Due to the advances in IT solutions, It has become easier for businesses to advertise themselves online using both eCommerce web platforms and social media marketing, to name a few. Email marketing is another method that some businesses use as well. Knowing that the internet has become a vast space for startups and established corporations alike, IT solutions have become an integral part of every business today.

Singapore is no stranger to technology. Various Singaporean businesses have migrated their products and services online. The beauty about it is that Singapore as a country offers government grants to support businesses depending on their needs. In the midst of COVID-19, this would be of great help to businesses if their operations were partly subsidized. 

What is a PSG Grant?

PSG stands for Productivity Solutions Grant. It is a type of government grant that assists businesses with their online operations. Since a lot of small-medium enterprises are in need of finances to run their businesses, the PSG grant might just be the solution to their problems. 

The aim of the PSG grant online store is to help jumpstart businesses in terms of their operations and contribute to their overall growth and profitability. Since most businesses now are concerned about eCommerce web solutions and social media exposure, this grant can help minimize costs that could be allocated to other aspects of the business such as purchasing or logistics.

The great thing about the PSG grant online store is that the Singaporean government can shoulder up to 70%-80% of the amount needed by the business requesting the grant. The grant covers different sectors of businesses, from information technology, to food to even engineering. 

Apart from the PSG eCommerce grant, other government grants offered by the government related to eCommerce solutions include the eCommerce booster package that caters to large eCommerce businesses such as Lazada or Amazon. There is also what they call the Start Digital pack that is granted by an institution called the InfoComm Media Development Authority. It aims to help companies with internet solutions such as cybersecurity, payroll and accounting solutions, and even digital marketing. 

How to apply for the PSG grant online store

If you are interested to apply for the PSG eCommerce grant, the requirements are very straightforward and simple. Below is a list of things to consider before applying for the PSG grant online store: 

  • Your business operations must be established and within Singaporean territory only
  • The IT solutions needed for the businesses must only be utilized or rented within Singapore only
  • The business merchant must have a minimum share of 30% of selected solutions within the PSG grant.

Once these qualifications are in place, it would be easy to be issued this grant by the Singaporean government. 

Reasons your small business should apply for a PSG Grant

If you are a small business operating in Singapore and you need help with managing online operations for your establishment, then applying for the PSG grant online store would be a great option for you. Below are some reasons why you should consider this grant:

#1 Minimum requirements needed

As mentioned earlier, all you need as a business owner to apply is to be a Singapore-established and operating enterprise, with your equipment and materials all being utilized or rented within the country and 30% of selected solutions must be shouldered by the merchant themselves. 

#2 Large percentage of business operations are subsidized

If you think about it, 70% to 80% of your needed budget for IT solutions will be subsidized by the government. That is a very good arrangement and will help you save or allocate your funds to other aspects of your business.

#3 Enhancement of business processes and solutions

The PSG eCommerce grant does not only offer financial assistance to help with a company’s eCommerce and IT solutions, but it also offers consulting services provided by the Singapore government that would be especially helpful for start-up businesses that have little or no experience when it comes to online operations and social media marketing.

Need help in applying for a PSG grant for online web?

If you are looking for a company to assist you on how to apply for the PSG eCommerce grant, go for Digital Solutions. They are one of the leading Singaporean companies that provide digital marketing solutions for both small-medium enterprises and large companies alike. Save yourself the hassle of doing everything on your own as Digital Solutions would be more than happy to assist you with your PSG Grant application needs. 

Digital Solutions is a leading Singaporean eCommerce and digital marketing solutions company. It provides services from Google Adwords to Facebook marketing to eCommerce solutions. Their services are geared towards both small-medium enterprises as well as large companies.

Go to their website today and see for yourself the various services they can offer their clients. Feel free to contact them today via their website or visit their office near Boon Lay.


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