5 Reasons to avail government grants for online web
As technology continues to advance and businesses have begun to migrate their sales and operations online, eCommerce has become the norm not just in Singapore but all over the world. The shift from physical to digital spaces may have been a huge adjustment initially but people are starting to get accustomed to it. Work from home set-ups has increased due to the COVID-19 pandemic. Both start-ups and big corporations have gotten used to the idea that operations have become purely online. From web development to social media marketing, it is no surprise that there’s a great demand for government grants for online web users.
The Singapore government is very much aware of the shift from physical to digital spheres especially when it comes to business and company operations. It is no surprise that it has become a hot topic among entrepreneurs and medium to larger scale companies. The need for additional funds to support their operations is a major concern, especially in this pandemic.
What is a PSG Grant?
If you are a business owner or an employee in Singapore, the term government grant is no stranger to you. It refers to a subsidy that the government grants to businesses within Singapore. It aims to help jumpstart their operations and contribute to their sales, profit, and overall growth.
The Singapore government offers a grant called the PSG eCommerce grant to businesses that need funding for their online operations. PSG stands for Productivity Solutions Grant. A PSG grant covers a wide range of sectors that it supports, from food to information technology, engineering, landscaping, and construction companies, to name a few. This government grant for online web is made possible by Enterprise Singapore and established in April 2018.
In the case of IT companies, this government grant for online web can shoulder as much as 70%-80% of costs for operations of these small to medium scale businesses.
How to Apply for PSG eCommerce Grant
If you are small to medium-scale enterprise that specializes in web solutions, you may want to consider applying for the PSG eCommerce grant. This government grant for online web solutions comes with so many benefits. The following criteria are considered before the government can offer this grant:
Your business must be registered and operating within Singaporean territory.
The IT solution that the business owner wants to purchase or rent should only be utilized in Singapore.
It is a must that the merchant has a share of at least 30% for selected solutions that fall under the PSG grant.
Two other government grants for online web solutions include the eCommerce booster package which focuses entirely on improving eCommerce solutions for large businesses like Amazon, Lazada, and Shopee, to name a few. Another is the Start Digital Pack granted by the Infocomm Media Development Authority that is centered on specific aspects of small and medium enterprises that include HR and payroll solutions, digital marketing, and cybersecurity.
Five reasons to avail of Government grant for Online Web like PSG eCommerce grant
Given the information above, how would a small or medium scale business benefit from the PSG eCommerce Grant? Below are five benefits that could be of help to start-up businesses that have gone digital:
#1 Government grant for Online Web can reduces costs for the business
As mentioned above, the PSG eCommerce grant for online web can subsidize up to 70% to 80% of your business costs, which can help increase income and savings for your business. What a big contribution this could make for the growth of your enterprise!
#2 Enhances business processes and solutions of your business
Not only does the PSG eCommerce grant offer subsidies for your business, but they also offer assistance in terms of enhancing your business. Apart from funding, this government grant for online web also offers consultancy and equipment solutions to help boost your business growth.
#3 Government grant for Online Web minimum requirements needed
As stated above, the requirements needed before gaining this grant are straightforward and simple. As long as you operate and are registered within Singapore and your equipment purchases or rentals are within the country, it will be easier for you to apply for the grant.
#4 Industry-specific to your IT needs
It caters to small and medium-scale businesses and IT solutions are of importance to the Singapore government. They make sure to prioritize your needs as a business since it will also benefit the Singapore economy. Local businesses are thriving with the help of the government.
#5 Government grant for Online Web contributes to both business and economic growth
As mentioned in #4, the government gives high importance to IT companies, especially during this pandemic. Where work-from-home setups are the normal setup. PSG eCommerce grant will not only contribute to business growth but can help to boost Singapore’s economy in the long run.
Bottom line
The PSG eCommerce grant is one government grant that can help your business grow. It is made available to IT companies especially during this pandemic where many companies have started to operate digitally. The government wants to support the growth of local businesses by providing this grant. If you are a small to medium-scale enterprise that offers web solutions. It would be a good idea to apply for this grant. It can help boost your business and improve your sales, income, and profits.
Flexible working hours are the norm now that it is the year 2019. The world is going digital and many businesses have already migrated to the online space to conduct their operations. The PSG eCommerce grant is one government grant that is available to IT companies. It is made for those who shift to the online sphere. The government holds high importance on IT companies, especially during this pandemic. Many companies have already made the shift to work from home set-ups.
Apply for the PSG eCommerce grant today
Did the 5 benefits listed above help you? If you are a small or medium-sized business that wishes to enhance its eCommerce platform and its digital marketing arm, then applying for the PSG eCommerce grant would be a great option for you. One company that offers great digital marketing and eCommerce solutions would be Digital Solutions. We are one of the leading digital companies in Singapore. They are also a reliable third-party option to help you apply for a government grant for online web. Avail of their services today.
