Digital technology transforms every sector of Singapore’s economy today. Businesses need to adapt and make use of technological facilities to improve sales and productivity. With modern automation solutions, not only will companies be better able to innovate and upgrade their business, it may well be your stepping stone to a bigger overseas market.
One of the best digital solutions available for companies with products or services to offer is to bring the business online and into the eCommerce world. Entering eCommerce is the best bet to advance the business onto a larger scale. It allows you to go full-on with digital marketing. With more and more customers opting and shifting to eCommerce and buying things and engaging services online, not only are you providing convenience, but also providing a better user experience overall.
Many small and medium-sized enterprises (SMEs) think that going digital and starting an eCommerce business is only reserved for large corporations because they aren’t able to afford complicated IT systems to do so. The fact cannot be further away from this.
While it is true that high-end technologies may be costly, there are, however, integrated systems that are better fitted to different budgets, which SMEs can easily afford. Also, having your own eCommerce site is also a good way to extend your brand and branding, a good add-on to a solid external facing brand identity portfolio. Plus, there is actually governmental support that helps and enables SMEs to ride on this digital wave, such as the Productivity Solutions Grant (PSG).
What is the Productivity Solutions Grant?
Launched in April 2018 by the Singapore government in a bid to boost digital productivity, the Productivity Solutions Grant (PSG) supports companies keen in adopting technological solutions to enhance their business operations. The PSG is administered, processed and disbursed by Enterprise Singapore. Among the various industries that the PSG serves include retail, building, logistics, precision engineering, and the food industry.
There are solutions that are industry-specific, in addition to numerous systems, processes, and procedures like data analytics, financial management, inventory management, and customer management.
One of the key digital solutions for businesses looking to transform from traditional sales avenues to online digital platforms is the development of eCommerce sites.
With the PSG, Singapore SME businesses can get up to 80% funding for pre-scoped digital productivity solutions, such as eCommerce development.
What’s in a PSG package for eCommerce development?
A typical Productivity Solutions Grant (PSG) for eCommerce development will include necessary IT equipment to run the platform, tools, design and development of the website (or application), as well as necessary consultancy services.
Who qualifies for the PSG grant?
To qualify and apply for the grant, SMEs have to:
- Register and operate in Singapore;
- Use the purchase/lease/subscription of the digital solutions or equipment in Singapore;
- Have a minimum of 30% local shareholding (for selected solutions).
That said, there are SMEs and organisations that do not qualify for grant support, including Voluntary Welfare Organisations (VWOs), charities and Institutions of Public Character (IPCs), government agencies and their subsidiaries, as well as religious entities.
How do PSG eCommerce solutions help your business go online?
While living in a fast-growing digital marketing age, there is no room to underestimate the importance of updating your business with digital platforms and IT solutions. Today, some 75% of businesses in Singapore already have some sort of digital and Internet presence. Having a well-developed and proper website with eCommerce functions is an essential way to ensure company goodwill, and market confidence, as well as to increase potential sales revenue.
As a Pre-Approved@SME GoDigital Vendor, I Concept, your creative agency Singapore, can help small and medium-sized enterprises to come up with and develop proper, well-integrated websites with useful eCommerce features, all at a competitive rate. Plus, you can tap on up to 50% grant to do that, under the Retail category (eCommerce – Online Shop and Marketplace).
Our comprehensive eCommerce development solution makes it easy for you to manage the system. Our creative team and consultants will listen to your business’s needs for the online store, to design and create a customised site that’s suited to your brand. We prioritise User Interface and User Experience designs, along with the coolest aesthetics for your site or platform.
From a Single Dashboard, easy-to-use Content Management System (CMS), to a year’s worth of Technical Support. We have thrown them all in to make sure you have a properly running eCommerce site and system. Of course, there are options for Search Engine Optimisation (SEO) and Digital/Social Media Marketing solutions, from your premier digital agency.
With the potential of growing regionally and even globally with a good eCommerce website, and also a boost towards increased revenue as a result of being available and accessible online, these are some of the benefits you can expect.
Talk with the brand guardians at I Concept today
We provide step-by-step guidance to help bring your business on the right digital track. If you’re seeking to take the step forward and go online with eCommerce development and a web store for your business brand, get in touch with I Concept, your choice creative agency Singapore now. Chat with us here.
