Singapore is one of the countries popularly known for being a system that accepts state-of-the-art technologies. To always be running at the top in the race for being a central figure in the technological and creative domain, Singapore assists small or medium enterprises. As a result, several enterprises are investing in adopting technological solutions, devices, and services for advisory to move towards digitalization. Here is where the productivity solutions grant or PSG came into existence, the formation of which supports the journey of businesses to transform digitally. What Do You Understand By Productivity Solutions Grant? A grant is some money a government offers to support a particular cause. The Singaporean government also created the PSG grant to help enterprises and businesses. This enables them to take a step towards introducing and implementing technological tools and solutions and enhance their overall functioning. Various industries, including e-commerce, food, construction, engineering, retail, and logistics, fall under this grant. It allows businesses from different sectors to gain assistance and advance their digitization journey. As a result, enterprises can invest in various digital solutions based on multiple industries. An organization can apply for a PSG grant and gain 70% of the funds to access the best digital solutions. Implementing digital solutions can completely transform your work and increase business efficiency. Eligibility Criteria For Productivity Solutions Grant There are several benefits businesses can gain after getting a productivity solutions grant. However, to enjoy these advantages, you first meet the eligibility criteria when applying via BGP or business grant portal. Here are a few critical points that you must meet: 1. Before anything else, to apply for PSG, it is mandatory for you to register your business in Singapore. 2. As an applicant, you must fall under one of the following points: The applicant can be a managing agent representing the MCST or the management corporation strata title. To successfully gain the PSG grant, the MCST, a managing council, must approve the application. A leaseholder or tenant positioned at the deployment area can apply if they have an agreement for lease regarding the specified location with a 2-year validity following the date of applying via BGP. Additionally, the tenant must have approval from the property owner or landlord concerning PSG application and solution deployment. You can successfully apply if you own a building or any other premises and hold a valid title document. You can apply if your business is for managing waste, controlling pests, offering cleaning services, collecting general or public waste, etc. You should have a license from NEA and have current agreements in Singapore. 3. You can only apply if you will only use the resources in Singapore. 4. Note that you are illegible if you have an agreement or paid a third party, supplier, or vendor regarding the subscription or purchase of digital devices or solutions before applying. 5. The grant will only support solutions or devices you purchased before applying. Conclusion The PSG grant is a practical scheme that offers financial support to different businesses in different sectors. The support provided by this grant works in facilitating interactions to incorporate technological solutions in their business and increase working efficiency. Official Page Source : https://www.otherarticles.com/finance/accounting/214941-a-complete-understanding-of-productivity-solutions-grant-psg.html