Get up to 50% funding support with the Productivity Solutions Grant (PSG) when you use Xero through an approved PSG vendor.
The Productivity Solutions Grant (PSG) is a joint initiative by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore. It helps companies adopt IT solutions and equipment to improve their business processes.
PSG supports solutions used across various industries, including customer management, vendor management, bank reconciliations, project costing, expeneses claim, data analytics, financial management, and inventory tracking.
Announced in the Supplementary Budget 2020, PSG has been improved to encourage businesses to continue digitalizing and enhancing productivity. Starting from April 1, 2023, the grant will cover up to 50% of the costs.
SMEs can apply for the PSG if they meet these criteria:
You need to provide the following documents when applying for the Productivity Solutions Grant (PSG).
Businesses that cannot apply for the PSG in Singapore include:
Don't miss this great opportunity to modernize your business and boost efficiency. Contact us today to learn more and start your PSG journey with Clooud Consulting! Get in touch now to find the best options for your needs.
In Singapore, non-profit organizations can operate as Companies Limited by Guarantee (CLGs), charitable trusts, or societies. Setting up a CLG offers several benefits, such as limited liability for members, no need for share capital, and eligibility for tax exemptions. This article explains the main features of a CLG and the […]
As businesses in Singapore grow, handling payroll in-house can become complicated and take up a lot of time. Payroll isn't just about paying employees; it also involves accurately calculating salaries, deductions, taxes, and contributions to the Central Provident Fund Board (CPF). For business owners, deciding to outsource payroll is an […]
Bookkeeping for Building and Construction Companies Bookkeeping is important for all businesses, but building and construction companies face specific challenges. They handle different revenue streams, complex project budgets, and changing costs, which makes accurate bookkeeping vital for their financial health and success. This article explores the basics of bookkeeping for […]
InvoiceNow is a national e-invoicing system that helps businesses of all sizes process invoices more efficiently, lowering costs and speeding up payments. It uses the Peppol framework, which allows e-invoices to be sent in a standard digital format between different finance systems. InvoiceNow was launched by the Infocomm Media Development […]
In recent years, the accounting industry in Singapore and worldwide has undergone major changes, mainly due to advancements in artificial intelligence (AI) and automation technologies. As these tools become more common in accounting, they promise to significantly change how accountants do their work and provide value. While businesses are slowly […]
From crafting engaging new-hire orientations and continuous learning programs to setting specific performance goals for employees, payroll is a crucial part of any HR department’s success. For many companies, payroll is a recurring task that needs to be handled with complete accuracy, timeliness, and detailed reporting every month or week. […]
In today’s fast-changing business world, flexibility and innovation are key to success and growth. Employment Hero is leading this change, offering complete HR and payroll solutions designed specifically for Southeast Asian businesses. As the Head of Sales & Partnerships for Southeast Asia at Employment Hero, I’m excited to share how […]
Small and Medium Enterprises (SMEs) account for 99% of all businesses in Singapore, and these companies, founded by hardworking entrepreneurs, are essential to the country's economy. To succeed, it's important for them to focus on running their business effectively. One of the first steps to success is keeping business finances […]
Do you need to register for GST if your business is in Singapore? What are the advantages of being GST-registered? Our easy-to-understand guide covers the basics of GST registration, including the S$1 million taxable turnover threshold and the benefits of being a GST-registered business. This will help you make informed […]
Singapore is well-known as a top business destination, thanks to its strong economy and attractive tax benefits. Because of this, many business owners and investors see it as a great place to set up a business. If you’re thinking about starting a physical or online business in Singapore, you’ll need […]
