What is the Productivity Solutions Grant?
A joint initiative by the Infocomm Media Development Authority (IMDA) and Enterprise Singapore, the Productivity Solutions Grant (PSG) supports companies keen on adopting IT solutions and equipment to enhance business processes.
PSG supports the adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking.
Announced at Supplementary Budget 2020, PSG has been enhanced to encourage enterprises to continue their digitalisation and productivity upgrading efforts. From 1 April 2022 onwards, the maximum support level will be up to 70%. For eligible pre-scoped solutions, enhanced support level of up to 80% will be extended from 1 April 2022 to 31 March 2023 for Food Services and Retail sectors.
Who is eligible for the PSG?
SMEs can apply for the PSG if they meet the following criteria:
- Registered and operating in Singapore
- Subscription of the IT solutions or equipment must be used in Singapore
- Have a minimum of 30% local shareholding
- Company's Group annual sales turnover not more than S$100 million, or employment size not more than 200 employees
PSG-approved Xero platinum partners
See the list of Xero platinum partners who are pre-approved for offering their services with PSG.
PSG-approved Xero gold partners
See the list of Xero gold partners who are pre-approved for offering their services with PSG.
Enjoy up to 80% subsidy including 1 year licence, set up and training by professional accountants.
Our clients can focus on building their business while leaving the hassle of back-end business accounting to us.
We work with client closely so that they are involved in the process of going cloud.
A boutique accounting and tax firm powered by a 100% Xero Certified team based in Singapore and Malaysia.
Advante is a team of qualified and dedicated professionals who leverage on technology to provide a full range of service
Bringing you innovative best of breed cloud solutions and customised services tailored to your needs
IMDA pre-approved vendor for Accounting Management Solution.
We come from a management consulting background - we know what makes companies succeed.
We are Xero Certified Accountants, & a bit more.
We continue to serve and provide clients with various advisory, financial reporting and compliance services
Our experienced accountants provide professionnal, personalised and prompt accounting services to serve your needs.
We help businesses to integrate and streamline their existing accounts with Xero.
Our mission is to be growth partners with small businesses through the provision of cloud accounting solutions.
We offer accounting, taxation, payroll and corporate secretary solution for small-medium enterprises.
At Timcole, we take care of your administrative workload so that you can focus on your sales and business operations.
We adopt an analytical approach towards our client's business and focus on reducing administrative work.
WLP provides professional business incorporation, accounting, tax and business advisory services for start-ups and SMEs
We are an accounting and business advisory firm focusing on helping Emerging enterprises to succeed.
PSG-approved Xero silver partners
See the list of Xero silver partners who are pre-approved for offering their services with PSG.
Let us be your trusted advisor and financial partner with our Xero Certified team members.
A business advisory focusing on offering bespoke end-to-end business and financial services for SMEs and start-ups
We believe companies to gain profit through passion, efficiency and effectiveness.
Daisy Accountants is a network of accountants, corporate secretaries, tax agents, and other professional consultants.
EBOS SG Pte Ltd is one of the 1st Cloud Accountant providers in Singapore.
Incorporation, accounting, corporate secretarial, corporate advisory, HR, payroll and other business related services.
At PCS, we believe in action. We are passionate about helping our clients and growing their businesses.
Precursor is one of the top 30 accounting firms in Singapore. We provide a suite of corporate and advisory solutions.
We provide a complete range of comprehensive accounting and bookkeeping services.
We are a Xero-certified partner, the leading cloud accounting software for small and medium businesses.
"You Only Integrate Once" Founded with goal to empower small-to-medium enterprises with technology.
PSG-approved Xero bronze partners
See the list of Xero bronze partners who are pre-approved for offering their services with PSG.
Ace Business aims to support you to enhance your Business Digital Transformation.
PSG-approved Xero partners note
Xero does not guarantee the service of any one advisor. We do not review advisor listings and we do not recommend or guarantee the service provided by any one advisor, so make sure you check them out yourself and get comfortable with them yourself. Xero does not assess any individual advisor’s or firm’s proficiency as an accountant, bookkeeper or financial advisor.
How to apply for the PSG with Xero
Step one: Get a quotation from a pre-approved Xero vendor.
Step two: Submit an application on the Business Grants Portal (BGP). You will need to register for a CorpPass account to transact on the portal.
Are you an accountant or bookkeeper in practice?
It is up to your practice how you would like to structure your Xero PSG package to suit the requirements of the grant. It can include the cost of the Xero subscription, setup, training and/or implementation.
Frequently asked questions
No, companies can only be supported on pre-scoped packages by pre-approved vendors.
Unless otherwise stated, only the actual purchase cost of the pre-approved IT solution package is supportable. This excludes other related administrative fees/charges, e.g. delivery fees, installation.
Each company supported by ESG is subjected to an annual grant cap of S$30,000 for solutions supported by ESG, starting on 1 April and ending on 31 March the following year.
Companies that have fully utilised their grant caps will not be eligible for further support within the validity period of the grant cap, and may then apply for new solutions at the next period when the grant caps are refreshed. Companies are encouraged to plan the use of the PSG for their purchases.
Applications are processed within 4-6 weeks from the submission of all required information. Companies are strongly encouraged to submit their applications ahead of time to account for the application outcome and/or processing duration required.
An email will be sent to the company’s contact person with the status of the submitted grant application. Alternatively, Applicants may log in to the BGP. Under the “My Applications” section, they can view the status of their grant application by toggling between the tabs (Drafts/Processing/Actions Required/ Completed).
Claims are processed within 4-6 weeks from the submission of all required information. Companies are encouraged to submit their claims after they have fully deployed, providing documents to show use of the solution for at least one month. Incomplete submissions will result in delays.
Disbursement of the PSG grant will be credited directly to the company’s bank account through GIRO. The completed GIRO form must be verified by the company’s bank and submitted to ESG before the company’s claim request. For multiple claims, the GIRO form is only required during the submission of the first claim. The company will need to submit a new GIRO form if there are changes to the company’s account details.
An email will be sent to the email address stated on the BGP to confirm the transaction.