Must-Ask Questions When Applying for the Productivity Solutions Grant (PSG) in Singapore

Do you want to claim PSG marketing support in Singapore? Well, this is an important decision for your SME in terms of accessing financing and driving growth. You can regard to the Productivity Solutions Grant (PSG) as a grant that supports companies and enterprises looking to adopt tech solutions and equipment to improve their operations.

This government grant is widely known to cover sector-specific solutions to help businesses from different industries, such as engineering, food, logistics, construction, and landscaping. You’re free to choose from a wide range of industries-based digital solutions for your business in Singapore.

Similar to any other type of grant you decide to leverage in Singapore, you need to have an insight into what you are dealing with in the first place. Below are some of the questions to ask before applying for the productivity solutions grant.

How Long Does It Typically Take to Get a PSG Grant Approved?

It is important to note that the turnaround time for a PSG application is up to six weeks. But most applications get processed within four to six weeks from the day you submit your application. The good news is you can always speed up the application process by making sure the submitted quotations and invoices are the same as the pre-approved price packages.

Either way, the timeline for PSG grant approval tends to vary immensely based on factors such as completeness of your documentation, complexity of the application, and the efficiency of the evaluation process.

What are the Required Documents for Submitting a PSG Application?

You should also be awareof the documents needed to claim PSG marketing support in Singapore. Well, this is something that should never give you sleepless nights since you can access this information online without moving a muscle.

In a nutshell, you need a CorpPass account to transact on the Business Grants Portal. You should also validate your business sector on your ACRA BizFile, share company’s financial statements & ACRA BizFile, get documents from the vendor, and licenses required for certain sector-specific solutions.

Be open to asking any burning questions before you finally make up your mind to apply for the PSG grant in Singapore. You want to be sure your decision is well-informed, and this is only possible if you clear all the doubts in your mind. After all, there is no way you can fill the PSG claim blindly and still expect to reap maximum benefits.