How to apply for PSG

What is Productivity Solutions Grant (PSG)?

The Product Solutions Grant (PSG) assists all SMEs who wish to increase productivity by upgrading company processes using pre-approved iT solutions. PSG is a useful tool for businesses looking to jumpstart their digital transformation activities. More businesses want to take advantage of the PSG benefits now that financial assistance has increased from 70% to 80%.

The PSG offers a number of software licenses, setup, subscription, training, and data migration options that have been approved by the PSG. PSG also supports equipment, although only in a few areas, such as environmental services and Food & Beverages (F&B).

Due to the Covid-19 epidemic, the PSG was revised in April 2020 to enable businesses that employ laptop and telecommuting technologies to facilitate business strategies.

Read a step-by-step guide for PSG:

PSG Guide

What Is Covered?

There are three types of pre-approved solutions. These are the categories:

• Accounting, Customer Management & Inventory Tracking, and HR are examples of general solutions.
• Solutions for specialized industries, such as fleet management and point-of-sale, are available
• Queue management systems, temperature screening solutions, and virtual meeting tools are among the Covid-19 business continuity solutions.

Who Is Eligible To Apply?

Any SME that meets the following conditions can apply for PSG:

• The company is registered and operating in Singapore
• Have a minimum of 30% local ownership
• Purchase/subscription of the IT solution and equipment must be used in Singapore

How To Apply?

1. Request a quote for an IT solution that has been pre-approved
2. Submit a PSG application using the Business Grants Portal (BPG). Please note that accepting the quotation at this time is not mandatory for SMEs.
3. You may begin using the IT solution immediately after submitting the application
4. It will take between two to six weeks for your PSG application to be approved
5. To receive the approved funds, you must submit your claim online

Make The Most Of Your Benefits

Companies can now choose to benefit from all three grants to mitigate their costs, thanks to the introduction of the Skills Future Enterprise Credit (SFEC) and the E-invoice Registration Grant (ERG). Please keep in mind that the three grants are only accessible for a limited time, and the order of application evaluation is based on a first-come, first-served basis.

FAQs on Xero & PSG

How to apply for the PSG grant?

1. Obtain a quote from us via email / call / WhatsApp
2. Submit your PSG application online via the Business Grants Portal
3. You may begin using the IT solution immediately after submitting the application
4. It will take between two to six weeks for your application to be approved. Most approvals are successful, but not guaranteed
5. Submit your claim online to receive the approved funds

Do I need an accountant when using Xero?

You can generate reports, check your balances, and manage your cashflows using Xero at any time, anywhere.

ACRA filing, GST filing, and IRAS filing are all about more than just gathering invoices and bills. As a result, hiring an accountant to assure compliance and peace of mind is still a good idea. Please get in touch with us for a free consultation.

Can I apply for the grant?

To be eligible for the Xero PSG grants, you must meet the following requirements:

• Your company is registered and operating in Singapore
• Have at least 30% local shareholding
• Purchase / subscription of IT solutions and equipment must be used in Singapore

Can I migrate data from my previous accounting software to Xero?

Yes, we are experts in the field of migration! Whether you’re using MYOB, Financio, ABSS (MYOB), Quickbooks, QBO, Zoho or other accounting software, we’ll be able to transfer your data to Xero.

Please keep in mind that not all Xero Partners offer this service.

Are there any differences between purchasing Xero from you or from Xero directly?

We’re a Xero partner, so whether you buy from us or straight from Xero, the price remains the same. However, you will receive more from us in particular,

• Consulting and professional services
• Support that is tailored for you (Xero only provides FAQs & email support)
• 80% PSG grant (there is not grant if you purchase straight from Xero)

Will my data be safe in Xero?

Xero is certified as compliant with ISO/IEC 27001:2013 which is globally recognized as the premier information security management system (ISMS) standard.