The Singaporean government helps the company’s growth by offering subsidies, tax breaks, and financial support. One of these supportive programs is the Shopify PSG Grant, designed to help businesses go digital and succeed. This grant helps small and medium enterprises create their online shop. It also helps them manage their business on the Internet easily. The PSG Grant aims to help small businesses sell more and grow faster. It makes going online less costly for small and medium business owners. With PSG Grant support, small and medium businesses can reach out to more customers and improve productivity. It’s a simple way to help companies succeed in the digital world.
What is the PSG Grant?
The Productivity Solution Grant is a financial program initiated by the Singaporean government. It helps small and medium enterprises (SMEs) use digital tools to work better and faster. The PSG allows SMEs to claim up to 50% of the cost for pre-qualified IT solutions and improve their productivity. It supports a wide range of industries, including food, retail, gardening, and others. Shopify is one of the platforms approved for this grant. Local SMEs can use it to create online stores and grow digitally. The PSG grant in Singapore makes it easier and cheaper for small businesses to use technology and improve productivity. It’s a great way to support local small and medium business success.
PSG Grant Eligibility Criteria for Shopify
The PSG Grant supports small businesses in Singapore in adopting digital tools like Shopify. To qualify for a PSG grant, companies need to meet specific rules, so below are the PSG Grant eligibility criteria that you need to follow:
- Your company must be officially registered and operating in Singapore.
- Only local SMEs can apply for PSG Grant.
- You need to have at least 30% shares of the company owned by Singapore’s permanent residents.
- Your business must not exceed a total of 200 employees to qualify.
- The company’s yearly revenue should not exceed more than $100 million.
- You should use the IT solution that you have purchased only in Singapore.
Benefits of Using Shopify with PSG Grant
Using Shopify with the PSG Grant offers many great benefits for small and medium businesses. The PSG Grant helps you reduce the cost of using Shopify and makes it affordable for all enterprises in Singapore. This financial support helps local SMEs create their online store without spending too much money.
Shopify provides user-friendly templates so that you can make your store unique. This helps every company to sell products, accept payments, and manage all their orders in a single place. If you’re looking for expert help, Shopify developers can further enhance your store’s functionality and design.
The Platform allows businesses to track sales and see popular products visitors like. It helps them make intelligent choices to grow their business. Shopify’s user-friendly features simplify store management, allowing businesses to save time and run efficiently.
With the PSG Grant, businesses can start selling online faster. They can reach more customers and grow their business in a digital world. Shopify also offers excellent customer support, so companies always have help when needed.
In summary, the PSG Grant with Shopify offers a simple, affordable, and efficient solution for starting your online store. It helps companies to focus on their sales and reach more people without worrying about high costs or complicated setups.
Step-by-Step Guide to Applying for Shopify PSG Grant
Make sure your business meets the PSG Grant eligibility. You must officially register your company in Singapore.
Shopify is a pre-approved vendor under the PSG Grant. To set up your online store, choose Shopify as your trusted Platform.
- Create a Shopify Account:
Open the Shopify website and sign up for an account. Select a plan that is most suitable for your business requirements.
Collect the necessary documents, like your business registration details and the company’s financial records.
Open the Singapore Business Grants Portal, complete the application form, and submit the required documents.
After submitting your application, it takes some time to review it by the government.
If the committee approves your application, you will receive the PSG Grant. This will cover part of the cost of using Shopify.
Once you get the approval, use Shopify to set up and grow your online store.
Why Choose Shopify for Your eCommerce Needs?
Easy to use
Shopify is simple and even user-friendly for beginners who want to build their online store. It has simple themes that make your store look attractive. Adding products, setting prices, and managing orders is simple and quick. If the dashboard is clear, it becomes easier for the users and for you to find everything that you need. Shopify also helps you track inventory and handle shipping without confusion. It’s designed to save time and make selling online smooth and stress-free.
Affordable and flexible plans
Shopify offers affordable and flexible plans for all local SMEs in Singapore. You can start your business with a basic plan and upgrade as your store grows. This flexibility helps you to manage costs while expanding your business. Even Shopify is more affordable because of the PSG Grant for eCommerce support, where local SMEs can claim up to 50% of the cost. Shopify also provides a free trial for you to test the Platform before you pay. These plans ensure that local businesses can easily afford so that they can start their online business.
Sell Anywhere, Anytime
Shopify enables you to sell your products anytime and anywhere from any location so that customers can shop whenever they want. The Platform is compatible with computers, smartphones, and tablets, which makes it simple for visitors to do their shopping. It also lets you integrate your online store with social media platforms so that you can expand your reach to potential customers. Shopify enables you to run and operate your store with ease and sell your products at any time.
Secure and Reliable
Shopify makes your online store safe and trustworthy. It protects customer information with secure payment systems. Moreover, your store will always run smoothly because Shopify consistently takes care of updates. This means your store will not go offline, as Shopify provides reliable servers. Additionally, it handles technical issues in the background, allowing you to stay focused on your business. As a result, Shopify offers customers a secure and reliable shopping experience whenever they visit your store.
Customer Support
Shopify reaches out to you with the best customer support that you require in case of any issue. Furthermore, the Shopify team is also available for 24/7 support via chat, email, or phone. They will explain how to resolve any problem that a user may encounter. Additionally, Shopify offers a help center with easy guides and tutorials, allowing you to learn how to use features or fix problems on your own. This comprehensive support ensures you can focus on your business while Shopify takes care of the rest.
Conclusion
The Singaporean government’s generous incentives make the country’s future brighter than ever for eCommerce businesses. With the Productivity Solutions Grant, you can unlock a wealth of opportunities to elevate your Shopify store. Awebstar, a trusted PSG provider in Singapore, helps small and medium businesses to claim up to 50% of the cost support for their Shopify website design and development. Contact Awebstar today for a free consultation. Call us at +65 6909 9163 or email us at [email protected].sg to get started!
Frequently Asked Questions for PSG Grant
Q1. Can businesses apply for multiple PSG grants?
Yes, businesses can apply for multiple PSG Grants for different solutions. However, each solution must meet the eligibility criteria and serve a unique purpose. The Singaporean government reviews applications to ensure fair and proper use of funds. This helps businesses adopt various digital tools to improve productivity. Always check guidelines before applying for multiple PSG Grants.
Q2. What are the documents required for the application?
The documents that you need for the PSG Grant application are as follows:
- Business registration: Proof of your business’s registration, including the company’s name, registration number, and ownership structure.
- Financial statements: The company must have had financial statements for the past three years.
- Vendor quotation: A quotation from a pre-approved PSG vendor that includes item costs for all components.
- Proposal: A proposal that outlines your project, including the IT solution, vendor name, vendor’s quotation, and supporting documents/licenses.
- Project cost: A comprehensive breakdown of the project expenses.
- Business impact: A description of the overall business impact and productivity gains from the proposed solution.
- Contact details: You need to provide the contact details of the primary person.
Q3. How long does the PSG Grant approval process take?
The PSG Grant approval process usually takes about 4 to 6 weeks. The Singapore government will carefully review your application and documents during this time. They ensure your business meets all the grant’s rules and requirements.
Q4. What is the Business Grant Portal?
The Business Grant Portal (BGP) is an online platform by the Singapore government. It helps companies easily apply for grants like the PSG Grant. Companies can find grant details, submit applications, and track their progress in one place. The BGP portal makes the process simple and organized. It ensures businesses save time while applying for financial support.
Q5. Where can applicants check the status of their PSG Grant application?
Applicants can check the status of their PSG Grant application on the Business Grant Portal. After logging in, they can view updates and track progress under the “My Application” section. The portal shows if the application is being reviewed or approved. Notifications are also sent to keep applicants informed. This makes it easy to know what’s happening at every step.
Post Views: 4
