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What is Ecommerce PSG Package?
The Ecommerce PSG Package is an e-commerce solution to solve all your online business needs. The package is very comprehensive. It includes every aspect of an e-commerce business, such as design, copywriting, marketing, and technology.
From choosing a profitable niche to establish an effective checkout process to capturing custom leads from your website, this governmental grant support covers all aspects of the ecommerce business.
Since Singapore improve its economy and boost its ecommerce sector, it has initiated a program that aims to uplift the local economy.
This ecommerce PSG package aims to maximize your chances of succeeding in the ecommerce industry.
However, it is worth exploring questions such as:
What is an Ecommerce Productivity solution? How to avail of this grant? What are the terms and conditions or the eligibility criteria to receive these funds? I am sure there must be many questions in your mind when it comes to the PSG package.
This blog post aims to highlight everything that you need to know about this package.
Basic Advantages of PSG Package:
To begin with, you need to understand that the PSG package is designed to help small- and medium-sized businesses. It helps them grow their sales effectively.
These services include graphic design, development, content creation, marketing strategies, and delivery. The package is designed to complement and not replace ongoing small business support. It provides businesses with ideas about how they can grow their business further and make a difference in the world.
This support by the government of Singapore not only brings business to the local markets of Singapore. But it also widens the scope of business in the international markets. As in the current times, ecommerce, and the online business has become a dominating method to run the business. Long gone are the days of brick-and-mortar business,
Besides, the ecommerce PSG Package designates the funds allocated to each organization. It provides financial support for purchasing applications, tools, equipment, and other services. This is to help in developing and maintaining their online presence. Any organization can avail the funds on behalf of its students, employees, or members as per their individual needs. However, they must meet the eligibility requirement in order to meet receive this grant.
How does the ecommerce PSG package work?
At the moment, the government of Singapore is offering two types of business development programs for startups. The first one is called LEAD which is targeted towards small and medium enterprises. It helps in the business expansion. The second startup distinctive subsidy is called the ecommerce productivity solution grant that is created for the IT sector development.
It aims to foster and create an innovative environment for creative minds. No matter how big of a plan is, we all know that businesses need financial help.
Through this package, SMBs can easily market their products online, thus increasing their sales in a shorter period of time. Through a combination of technology, business acumen, and top-quality services, the PSG package will assist these businesses with setting up their websites and streamlining their processes so they can effectively grow their business.
Ecommerce PSG package is a core solution of the kind that can help small and medium enterprises (SME) grow their profits.
It aspires to improve the quality of services, reducing delivery times and inventory costs, providing ease of use for end-users, and enhancing collaboration between different departments so that SMEs can achieve greater prosperity through improved sales and marketing performance.
PSG will also fund and help businesses shape their product vision, business plan, and marketing strategies so that they can scale up their operations and reach their full potential as an ecommerce business.
How to avail of the ecommerce PSG package?
To obtain the PSG package, you need to fill an online application that is available on the business grants portal online. You have to verify your business and the shortfall of the financial assistance. Follow the following steps to apply for the PSG package.
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Identify Your Needs:
The first and foremost thing you need to be aware of is your needs. Identify the items, financial support, demands, equipment, and other consulting assistance you require in order to run your business successfully. You need to be 100% sure of what are your immediate needs, and be clear in your head if you get this grant where you would apply it.
Knowing about your needs will help you expedite your application. Make sure you are applying for only the grant that your company needs at the moment.
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Get hold of the necessary documents and records:
When you are done with the first step, you would have a pretty good idea of your company’s needs and wants. You would be clear in the strategic needs of your business. Now comes the second part, in which you have to gather all the necessary paperwork and the document.
For the smooth and successful approval of your grant, you need to have proof of record.
For example, if you are opting for IT solutions, even if it as small as ghostwriting services USA, you need to have a quote from a vendor. Likewise, if you want to buy some new equipment, you need to have a source and a quote from the sellers. This helps in managing your affair properly. It establishes the authenticity of your case and lets the investors know how much do you actually require for your business.
Whatever are the actual needs of your business, you need to have a quote and the cost of the services you require.
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Submit your application:
Once you are done and have gathered all the required documents, submit them through the online portal of the business grant site. Make sure you are providing all the true and accurate information because any false information may lead to grant disapproval but also may jeopardize your business.
Who is eligible for the ecommerce PSG package?
Ecommerce PSG package is a comprehensive e-Commerce site set up for individuals or IT companies. Yet, there is a criterion that must be met if you are applying for the ecommerce PSG package.
- Your business is registered and running in Singapore.
- You want to get IT solutions and equipment for your business in Singapore.
- You have at least 30% of the local shareholding.
