5 Important Facts Regarding the PSG Digital Marketing Grant

.Multiple companies have suffered significant financial losses during this time period as a direct result of the epidemic, which is showing no signs of abating despite the many circuit breaker procedures that have been put into place to prevent the virus from spreading further. In addition, customers have reduced the amount of time they spend outside and have instead turned to different ways, such as shopping online, to get the things they need daily. Because of this, conventional brick-and-mortar stores find that the only way to continue existing is to adopt a digital storefront. However, this shift also implies that there will be more rivalry in the digital space. Making it even more difficult for business owners to market their wares and services. Because of this, companies need an efficient digital marketing plan to differentiate themselves from the competition.

1.The award will cover up to 70 percent of the total cost.

In its first 2018 iteration, the Productivity Solutions Grant only reimbursed firms. For as much as 70% of their overall costs. As of April 2020, the financing assistance was raised to 70% of the total amount to give qualifying firms further relief.

However, with the introduction of the PSG Digital Marketing Grant scheduled for October 2021. The administration has decided to provide the same degree of assistance to small and medium-sized enterprises (SMEs). For a digital marketing solution that costs $10,000. For instance, your firm would only have to pay up $3,000 from its advertising budget if it were awarded the maximum money available. While the grant would subsidize the other $7,000.

2.The award is eligible to be combined with SFEC funding.

You have access to more than one resource; the PSG Digital Marketing Grant is only one. If your business is qualified for the SkillsFuture Enterprise Credit (SFEC) grant, you will have a one-time credit of $10,000 that will cover up to 90% of your out-of-pocket expenditure supported by evidence initiatives. These proposals may include implementing digital marketing solutions that PSG-approved vendors supply.

The amount paid from the SFEC grant is automatically chosen based on accepting the claim for the appropriate digital marketing services. Permit us to illustrate the operation of the distribution with a quick example:

3.The financing will cover an extensive range of digital marketing options.

The financing provided is tempting, but it will be for nothing if the digital marketing solutions covered by the grant are deficient in their functionality. Fortunately, small and medium-sized enterprises (SMEs) may apply for Singapore marketing grants to cover a wide range of services.

This grant will take care of all of your needs, whether you are looking for a reliable agency to assist you in formulating. And carrying out an effective digital marketing strategy or developing content that is on trend. And relevant in order to promote your company across a variety of online platforms such as Facebook and Twitter. With the support of these Singapore marketing grants, the government believes that small and medium-sized enterprises (SMEs) will be able to build a major presence in the digital sphere and drive more visitors to their firms, ultimately resulting in more sales income.

4.Your company must be in the community to be eligible for this award.

If small and medium-sized enterprises (SMEs) want to apply for the PSG Digital Marketing Grant. They must first meet a set of requirements. Let us explain the qualifying requirements so that you can have a clearer idea of whether or not your company is eligible for the Singapore marketing grants being offered.

Your firm is eligible to apply for the Singapore marketing grants provided it satisfies the standards listed below:

• The company is based in Singapore, where it is both registered and active;
• The firm must have a minimum of thirty percent of its shares held locally. And either its annual sales turnover must be less than one hundred million Singapore dollars (SGD). Or it must have less than two hundred workers (this requirement is only applicable for certain solutions);
• The internet marketing solution’s acquisition, subscription, or leasing is required to be used in Singapore.

5.Each accepted application may only accept one claim from each small and medium-sized business.

Businesses can submit a single claim per accepted application when applying for PSG Digital Marketing Singapore marketing grants. When the claim has been validated, business owners can no longer use this resource with a third-party provider.