How Product Solutions Grant help SMEs competitive?

How Product Solutions Grant help SMEs competitive?

Challenges In Small Business
October 11, 2018
November 14, 2018

Technology Innovation needs not to be expensive. For SMEs who would like to take a deep claim the Productivity Solutions Grant enables them to support companies keen on implementing IT solutions. State-of-the-art technical elucidations help to drive capability and growth in a company that allows SMEs to stay relevant and becomes more competitive.


For any business to grow employee productivity play a major role and crucial to ensure that the services and products offered to the clients or customers are effective and efficient. With more and increased productivity, the business can grow consistently and focus on acquiring and retaining new clients and new customers. However, to improve productivity, Small Medium Enterprises (SMEs) need to adapt and involve technological solutions and have to introduce these innovations into their core business operations. These solution implementations make the internal processes more effective and efficient and productive allowing SMEs to remain competitive and explore more new opportunities in the upgrading world.


How can SMEs benefit by adopting technology to their operations?

For example, an SME can increase their efficiency and productivity by implementing automation and streamlining the quotation and invoicing processes or managing essential HR services like payroll or leave. SMEs can also take the most advantage of e-commerce platforms to access new customers across borders. Of course, implementing technological solutions may take time and require a heavy capital investment. It is absolutely real necessary in the longitivity thanks to the cost benefits it can bring. It is necessary for sustainable growth too.”

SMEs that are looking into incorporating innovative technological solutions and equip their business operations but are hesitant because the investment can focus on Productivity Solutions Grant (PSG) for funding support of up to 70%. The PSG provides support for the adopting IT solutions and equipment that have been pre-scoped by the industries’ lead agencies. The list of readily adaptable solutions can be found easily in all business directories of Singapore.

What type of industries does the PSG cover?

The PSG (Productivity Solutions Grant) covers sector-specific solutions in the retail, food, logistics, precision engineering, construction and landscaping industries. However, if your SME does not fall in any of the categories listed in the industries, there are readily adaptable solutions that cut across industries – such as digital customer relationship management and human resource management systems.


How do you apply for the PSG?

SMEs can apply for the grant if they are registered company and operating in Singapore. The SMEs need to ensure that the purchase, lease, subscription of the IT solution or equipment must be used in Singapore.To apply, identify relevant information and solutions by looking through the list of supportable solutions here or on Tech Depot. Get a quotation from the pre-approved vendor like Onestop Accounting Software if you are interested in an IT solution or equipment.

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