Productivity Solutions Grant (PSG)
for the Accountancy Sector
The Productivity Solutions Grant (PSG) provides up to 50% financial support for the small and medium sized enterprises (SMEs) in the Accountancy Sector to adopt pre-scoped IT solutions for a 24-month subscription.
Eligibility
- The applicant must be a registered business entity in Singapore.
- The applicant’s purchase /subscription of the IT solution must be used in Singapore
- The applicant must be a SMP with group annual sales turnover of not more than S$100 million or group employment size of not more than 200 workers.
- The applicant’s primary or secondary Singapore Standard Industrial Classification (SSIC) code must start with 692.
- The applicant must have at least 30% local shareholding
- The applicant must not have:
- Made any payment to a supplier, vendor or third party in relation to the purchase/ lease/ subscription of the IT solution.
- Signed or confirmed any contract or purchase order with a supplier, vendor or third party in relation to the purchase/ lease/ subscription of the IT solution.
Funding Support
- Up to 50% of qualifying costs capped at $30K per firm (for 2 years) for first time adopters.
- Up to 30% of qualifying costs capped at $30K per firm for applicants who have adopted digital solutions under the Digital Transformation for Accountancy (DTACT) programme previously but is applying under a different solution category for the PSG.
- No funding for applicants who have adopted digital solutions under the DTACT programme and is applying under the same solution category for the PSG.
Up to 50% PSG Grant for SentroWeb®
Corporate Secretarial and AML/CFT Solutions
SentroWeb® provides complete corporate secretarial and anti-money laundering functions with easy-to-use interface. SMEs are eligible for up to 50% Productivity Solutions Grant (PSG) support for the adoption of SentroWeb®, a Pre-Approved Solution under the IMDA SMEs Go Digital programme.
How to Apply for PSG?
Step 1
Identify relevant solutions from the PSG website, and get a quotation from the pre-approved vendor
Step 2
Submit PSG application on the Business Grants Portal (BGP) using your CorpPass and following the step-by-step guide for PSG
Step 3
Accept your letter of offer once approved
Step 4
Sign Purchase Order (PO) with us, the subscription will be ready within 3 working days!
Required Documents
- Contact Details
- Main contact person
- Letter of Offer addressee (CEO or Managing Director as registered with ACRA, or other authorised individuals.)
- Proposal
- Vendor name and details of equipment/ IT solution
- Vendor’s quotation and other supporting licences or documents
- Deployment location/Tenancy agreement
- Cost
- Details of project cost
- Business Impact
- Detailed description of overall impact
- Details of productivity gains
| Category | Information/ Documents |
|---|---|
|
1. Contact Details |
|
|
2. Proposal |
|
|
3. Cost |
|
|
4. Business Impact |
|
How to Submit Claims?
Step 1
Purchased or subscribed the solution as approved in the application
Step 2
Has been used the solution for at least 1 month
Step 3
Has been paid in full (for first year or second year subscription)
Step 4
Complete and submit the 6-month and 18-month report on the BGP along with the first year claim and second year claim respectively
Step 5
Disbursements can only be made after claims have been approved. Funds will be disbursed through PayNow Corporate.
Request Demo & Quotation for SentroWeb®
Corporate Secretarial and AML/CFT Solutions
Contact us today to explore how we can enhance efficiency, accuracy, and peace of mind when managing your corporate secretarial and AML/CFT compliance tasks.