Given the predominance of technology, Singapore knows that government grant for online web platforms is one of the most potent marketing tactics accessible today. Many businesses in Singapore want to construct an eCommerce web design & development to increase their sales and profits. Furthermore, eCommerce web design & development platforms provide extra advantages to both company owners and consumers.
The authorities give government grant for online web development platforms. There are many different sorts of charges available in Singapore, depending on the industry and the firm’s requirements. There are, for example, incentives available to help entrepreneurs get their businesses off the ground. Small businesses may also benefit from subsidies that give help in the form of partnership and advising. There are also technology-related incentives available to help companies to transition to a new way of doing business.
A government grant for online web design and development is also available to help businesses build their eCommerce web design & development. There are now a few available government grant online web development platforms.
Singapore is home to a diverse range of industries. It has embraced these enterprises, which have served as the backbone of the country’s thriving economy. Singapore is home to a wide variety of businesses. As a result, Singapore specializes in assisting small and medium-sized enterprises.
Singapore subsidizes these firms’ health care costs through some incentives. Government subsidies for online site development may be monetary or in the form of PSG assistance. The productivity solutions award is one of the most popular since it encompasses IT solutions.
What are government online grants?
As previously stated, this is a government grant for the online web that focuses on technology solutions. It was founded in April 2018 to assist small and medium-sized enterprises (SMEs) in achieving success. It helps businesses in implementing cutting-edge technology solutions and strategies.
Under the productivity solutions award, technical solutions, equipment, and even consulting services are available. Its objective is to use technology to increase productivity and to harmonize different industrial roadmaps. It aids in the development of PSG eCommerce software, for instance.
The current funding strategy for productivity solutions awards provides for up to 80% financing. Small and medium-sized businesses may continue to utilize this existing pricing to create PSG eCommerce websites until March 31, 2020. However, the reward would be capped at your company’s grant level. You may determine if you’ve hit the limit by checking your current status on the business grants site.
The productivity solutions award is one of Singapore’s most prominent financial investments. When the epidemic began, the 70 percent funding deficit had grown to 80 percent. Through the PSG grant online shop, small and medium businesses will be able to reestablish their businesses. This level of financial backing is critical, particularly for small and medium-sized enterprises.
Who are the qualified candidates for this grant?
Due to the breadth and value of the government grant for the online web, many firms wish to apply for and get it. The following are some of the prerequisites for consideration for the eCommerce website development PSG.
- The firm must first be registered in Singapore. Additionally, the firm mentioned above should be operational within the nation.
- The firm should also be interested in acquiring information technology solutions for usage in Singapore. For instance, if a business wishes to construct an eCommerce website in PSG, it must do so within Singaporean territory.
- The interested firm must have a minimum of 30% local ownership. Annual revenues should be less than $100 million if there are less than 200 workers.
The last criteria verify that grantees or small and medium-sized companies genuinely require assistance. If you satisfy the following requirements, you may qualify for a government grant for online web development to assist with establishing an eCommerce website.
#1 Grants for Productivity Improvements
This donation has been made possible thanks to Enterprise Singapore. Merchants and service providers may apply for financing for a range of pre-selected IT solutions. Aside from that, this reward also covers consultation and equipment. This kind of help is offered to businesses that want to improve their processes and operations. This prize also covers a retail eCommerce solution.
This initiative began in April of this year. This reward may be worth up to 80% of the total cost of the merchant’s IT system or equipment. Small and medium-sized firms would benefit the most from this government grant for online web development.
Procedures for determining eligibility and submitting an application
The qualifying requirements and basic application techniques for this government grant for online web are provided below.
- The recipient of the Productivity Solutions Grant must be a Singapore-based enterprise. It must also be operational on Singaporean soil right now.
- The merchant must rent or subscribe to an IT solution or equipment that may be utilized in Singapore.
- For specific PSG solutions, the merchant must possess at least 30% of the local equity.
You are qualified to apply for the Productivity Solutions Grant if you meet these criteria. The initial step in the procedure is to visit the Business Grants website. You must appropriately fill out the essential information to prevent complications.
You should also get a quote from the merchants from whom you want to buy. For example, you must be able to provide an estimate for the IT solution your firm requires. You’ll need to fulfill the same standards whether you’re buying equipment or looking for consulting services. If you want to apply for a business grant via the portal, you’ll need this document.
#2 Booster for eCommerce
This is a kind of government grant for online web development on the internet. This is offered by Enterprise Singapore, which also provides the Productivity Solutions Grant. This award was made possible by a collaboration between Amazon, Lazada Singapore, Shopee, and Qoo10.
As the name of the program implies, the services provided by this initiative are aimed at exponentially improving eCommerce web design & development. Among the services offered are content production, such as product photoshoots and content authoring. Product listings, material submissions, and store decorating are among the services they provide.
Logistics, such as product warehousing and integration with last-mile delivery providers, are also included. The eCommerce web design & development booster bundle may also help you promote and advertise your goods and services. Owners of small businesses may also attend training programs to increase their knowledge and talents in eCommerce website maintenance.
Procedures for determining eligibility and submitting an application
You must meet these standards to be eligible for a government grant for online web development.
- In Singapore, the firm must be registered and active.
- According to the current audited report, locals should possess at least 30% of the company’s shares, and the company’s annual turnover should not exceed S$100 million.
- must not be a registered user of the eCommerce platform in question;
- Each interesting application may only utilize one eCommerce web design & development platform.
Interested businesses may apply directly to their chosen eCommerce web design & development platform. If a merchant wants to set up an eCommerce website with Lazada, they must first get authorization from Lazada. Keep in mind that merchants are not authorized to have an existing account with their chosen platform. Their application will be evaluated by the e-commerce portal to which they applied.
#3 Start with the digital package
The Infocomm Media Development Authority hosts this government grant for online web development platforms. The agency, in collaboration with other commercial groups, offers digital solutions to small and medium-sized enterprises. These solutions come into five categories: accounting, HR management system and payroll, digital marketing, digital transactions, and cybersecurity.
This prize is not meant to assist you in developing an eCommerce site design & development. It will, however, be required once you have one up and running. This category includes marketing tools such as e-mail and SMS automation, and other social media advertising.
Merchants will be able to adapt to the solutions suggested above. They are eligible for a free membership for at least six months and an 18-month commitment.
Procedures for determining eligibility and submitting an application
Because this is a separate government grant for online web, the qualifying requirements are different.
- This will go to newly established small and medium companies.
- The company must be brand new to using digital technologies.
- Each eligible SME will get a two-solution start digital package.
If you meet the criteria mentioned earlier, you may begin your application by going to the IMDA website. Furthermore, the interested merchant must apply directly to the partner.
Apply today
Small and medium-sized firms in Singapore have access to a broader choice of incentives. All you have to do now is assess and select what kind of solutions and help your organization will want. Digital Solutions can help you find the most appropriate funding. Contact us right now to discover more about your financial options.