Singapore has always been one of the best countries to conduct businesses in. That is because it offers the best set of policies for businesses. In 2020 it was even named as the most business-friendly country for how it handles these companies. Aside from that, they offer a variety of government grant for online web. These kinds of grants aim to help businesses by incorporating different technological advancements.
There are many types of government grants in Singapore that provide this kind of assistance. The goal of these said grants is to help mostly the small and medium enterprises to adapt and compete with the market. For example, the PSG eCommerce development is a kind of government grant that specifically aims to adopt IT solutions.
Aside from the productivity solutions grant, There are other types of programs and assistance available. If you want to know more, here are the different types of government grant for online web.
#1 Productivity Solutions Grant
This grant was launched back in April 2018 by Enterprise Singapore. Interested merchants can get funding for a wide range of pre-scoped lists. This list is composed of different IT solutions and equipment that aim to enhance business processes and improve operations. This grant includes the PSG eCommerce development to help businesses build their own online store.
This offers 70 to 80% of the PSG eCommerce development costs. If you want to apply for this grant here are the qualifications:
The company should be legally registered in Singapore. It should also be operating within the Singapore bounds.
The business entity should be interested in purchasing leasing or subscribing to an IT solution or equipment that will be used only in Singapore
For some available solutions, it requires the company to have a minimum of 30% local shareholding
Aside from the PSG eCommerce development this grant also offers solutions in customer management, financial management, inventory tracking, and data analytics. It is said that in addition to the PSG eCommerce development this grant will be expanded to cover sectors such as agriculture, professional services, and tourism.
This grant is currently supporting three existing productivity skills namely innovation and capability voucher, the SME Go Digital Program, and the landscape productivity grant. The said government grant for online web enables businesses to access an even wider range of productivity solutions that are digital-based.
If you want to avail yourself of the PSG eCommerce development program, you will have to prepare a document that contains the quotation of the solution you would be needing for your business. Application processes will be done through the business grants portal.
#2 Start digital pack
This government grant for online web is more focused on small and medium enterprises. They provide several digital solutions such as accounting, HR management systems and payroll, digital transactions, digital marketing, and cybersecurity.
This scheme is spearheaded by the Info-communications Media Development Authority (IMDA) in partnership with other private corporations. Although it is not really focused on online shops, the approved merchants will still be able to use it in digital marketing solutions such as SMS automation, social media advertising, and email marketing.
if you are interested in this government grant you have to meet the following criteria:
The interested business should be newly incorporated that falls under the business operations side of a small or medium enterprise;
The business entity should be new to using digital technology
Once the business entities approve they are only eligible to 1 Start Digital Pack that includes two solutions
Before applying it is also required to find a suitable digital solution from the IMDA website. After this interested candidates can proceed to apply for the Start Digital Pack.
#3 eCommerce booster package
This government grant for online wealth falls under the jurisdiction of Enterprise Singapore. It is given with the help of Amazon Lazada Singapore, Shopee, and Qoo10.
Interested candidates can engage in one of these said partners. These private partners can help them with services such as content development product listing fulfillment advertising and promotion channel management and training workshops.
This kind of government grant for online web is specifically intended for businesses that want to start an online store. The private partners of this grant are proven to be effective eCommerce platforms. This grant presents many advantages as all kinds of industries in Singapore are considered to be a competitive space.
If you want to apply for this job the following criteria must be met:
The interested business should be registered and is currently operating within Singaporean bounds
The company should have a minimum of 30% local shareholding
The annual turnover should also not exceed 100 million based on the recent audited report
They should also not employ over 200 personnel
The business entity is also not allowed to have an existing account with the chosen eCommerce platform
Only one eCommerce platform is allowed per merchant
Application for this government grant for online web is done through the chosen eCommerce platform. These platforms are the ones required to approve or reject applications.
#4 Digital resilience bonus
This government grant for online web provides extra assistance to food services in retail sectors. Businesses that are seeking to upgrade their digital capacities to adapt to the pandemic can apply for this grant.
This grant is specifically focused on these two sectors because Singapore acknowledges that they are the most affected due to the nature of their businesses. Approved merchants can receive a payout of up to $10,000. This financial funding is on top of the assistance of the digital solution.
If you are interested in applying for this graph the following is the criteria to be met:
The business should have been incorporated on or before May 26, 2020
It should have the PayNow Corporate and PEPPOL e-invoicing
We should also have used any of the qualified solutions at least once a month by June 30, 2021
This grant doesn’t require an application. If the company meets the said qualifications above, The digital solutions provider should apply for the bonus on your behalf. Your digital solutions agency is the one required to submit company details to IMDA. After the information has been verified the payout will be credited to the PAyNow Corporate account
Apply for a grant today
These are just a few of the government that for online web grant you can avail. Singapore offers a wide variety of support to its businesses. Digital Solutions is an agency that can help you successfully apply for these grants. Visit our website today to know more details about your application.