PSG grant - Singapore companies can now get
80% of their annual fees with us covered!
Overview
The Singapore government has introduced the Productivity Solutions Grant (PSG) to encourage and support businesses in their journey. The grant will help companies adopt new technological solutions, enhancing their business processes. Common FAQs here.
As we are an IMDA approved vendor for this grant, eligible Sleek clients can now get 80% of their yearly fees with us covered if they have a minimum of 30% local ownership (Singaporean or Permanent Resident)!
- If you are already using a digital solution for either corporate secretary or accounting services, you will not be able to claim this grant.
How to apply?
Should you be eligible, follow the steps below:
1) Get in touch with our sales team to get a quotation within 1 working day
2) Submit a subsidy application on the Business Grants Portal (BGP) using your CorpPass
3) Accept your letter of offer once approved. Approval takes around 2-4 weeks upon submission.
Get started
We can help you get started fast. Talk to us!
About Sleek
Sleek makes the lives of entrepreneurs, investors and SMEs easier!
We provide a 100% online platform for effortlessly incorporating and managing the regulatory, tax and accounting requirements for companies in
Singapore and Hong Kong.
Efficient customer service
Efficient customer service
Safe and secure storage
Safe and secure storage
Simple digital signatures
Simple digital signatures
As a certified Xero Platinum partner, we can manage your unaudited financial statements, bookkeeping and expense claims, CPF and annual filings. You can focus on growing your business while getting all of your mandatory requirements covered with us through our digital platform.
Hassle-free services with transparent prices
PSG Approved All-inclusive Accounting Management Solution
Our PSG approved plans include fully digital solutions for accounting, tax, HR and sales management for SMEs and Startups in Singapore.
Accounting plans based on your business expenses:
Plan A will include the following:
- Monthly bookkeeping & reconciliation of up to s$2,500 expenses/month
- Xero & Receipt Bank subscription
- Access to Sleek platform – secure cloud storage and SleekSign digital signature
- Monthly preparation of management report and preparation of compulsory tax reporting
- Software setup & onboarding training
- Ongoing after sales support, training & access to Sleek knowledge base for self-education
Monthly management report will include the following: Balance sheet, income statement, general ledger, account payables summary, account receivables summary and schedules (i.e. fixed asset schedule).
Plan B will include the following:
- Monthly bookkeeping & reconciliation of up to s$7,500 expenses/month
- Xero & Receipt Bank subscription
- Access to Sleek platform – secure cloud storage and SleekSign digital signature
- Monthly preparation of management report and preparation of compulsory tax reporting
- Software setup & onboarding training
- Ongoing after sales support, training & access to Sleek knowledge base for self-education
Monthly management report will include the following: Balance sheet, income statement, general ledger, account payables summary, account receivables summary and schedules (i.e. fixed asset schedule).
Plan C will include the following:
- Monthly bookkeeping & reconciliation of up to s$15,000 expenses/month
- Xero & Receipt Bank subscription
- Access to Sleek platform – secure cloud storage and SleekSign digital signature
- Monthly preparation of management report and preparation of compulsory tax reporting
- Multi-currency support
- Software setup & onboarding training
- Ongoing after sales support, training & access to Sleek knowledge base for self-education
Monthly management report will include the following: Balance sheet, income statement, general ledger, account payables summary, account receivables summary and schedules (i.e. fixed asset schedule).
Plan D will include the following:
- Monthly bookkeeping & reconciliation of up to s$35,000 expenses/month
- Xero & Receipt Bank subscription
- Access to Sleek platform – secure cloud storage and SleekSign digital signature
- Monthly preparation of management report and preparation of compulsory tax reporting
- Multi-currency support
- Software setup & onboarding training
- Ongoing after sales support, training & access to Sleek knowledge base for self-education
Monthly management report will include the following: Balance sheet, income statement, general ledger, account payables summary, account receivables summary and schedules (i.e. fixed asset schedule).
Plan E will include the following:
- Monthly bookkeeping & reconciliation of up to s$75,000 expenses/month
- Xero & Receipt Bank subscription
- Access to Sleek platform – secure cloud storage and SleekSign digital signature
- Monthly preparation of management report and preparation of compulsory tax reporting
- Multi-currency support
- Software setup & onboarding training
- Ongoing after sales support, training & access to Sleek knowledge base for self-education
Monthly management report will include the following: Balance sheet, income statement, general ledger, account payables summary, account receivables summary and schedules (i.e. fixed asset schedule).
PSG Approved All-inclusive Corporate Governance Management Solutions
Our PSG approved plans include effortless management of corporate governance and company documentation via our one-stop online platform.
Corporate secretary & registered address plans based on number of shareholder(s):
Plan A will include the following:
- Corporate secretary – 1 Shareholder
- Sleek platform setup and subscription for up to 3 users
- Registered address and mailroom service / Year
- 24 hour access to the platform
What can be done on the platform?
Electronically submit, track and store corporate secretary documentation & requests, unlimited use of SleekSign digital signature and secure cloud file storage & management. Our platform also includes daily data backups and easy file search functionality.
Plan B will include the following:
- Corporate secretary – 2 Shareholders
- Sleek platform setup and subscription for up to 5 users
- Registered address and mailroom service / Year
- 24 hour access to the platform
What can be done on the platform?
Electronically submit, track and store corporate secretary documentation & requests, unlimited use of SleekSign digital signature and secure cloud file storage & management. Our platform also includes daily data backups and easy file search functionality.
Plan C will include the following:
- Corporate secretary – 3-5 Shareholders
- Sleek platform setup and subscription for up to 8 users
- Registered address and mailroom service / Year
- 24 hour access to the platform
What can be done on the platform?
Electronically submit, track and store corporate secretary documentation & requests, unlimited use of SleekSign digital signature and secure cloud file storage & management. Our platform also includes daily data backups and easy file search functionality.
Plan D will include the following:
- Corporate secretary – 6-9 Shareholders
- Sleek platform setup and subscription for up to 12 users
- Registered address and mailroom service / Year
- 24 hour access to the platform
What can be done on the platform?
Electronically submit, track and store corporate secretary documentation & requests, unlimited use of SleekSign digital signature and secure cloud file storage & management. Our platform also includes daily data backups and easy file search functionality.
Plan E will include the following:
- Corporate secretary – 6-9 Shareholders
- Sleek platform setup and subscription for up to 22 users
- Registered address and mailroom service / Year
- 24 hour access to the platform
What can be done on the platform?
Electronically submit, track and store corporate secretary documentation & requests, unlimited use of SleekSign digital signature and secure cloud file storage & management. Our platform also includes daily data backups and easy file search functionality.
SkillFuture Enterprise Credit (SFEC)
SkillsFuture Enterprise Credit (SFEC) advices employers to invest in enterprise and workforce transformation. If you’re eligible, you can tap on a one-off s$10,000 credit per company to cover up to 90% of out-of-pocket expenses on qualifying costs for programmes. Below are the following options that you can consider and the eligibility criteria:
Enterprise transformation includes programmes by various agencies on the Business Portal (BGP) and/or Workforce transformation option.
Eligibility criteria: During each qualifying period, eligible employers who meet the following conditions will be informed in writing –
- Contributed a minimum of s$750 SDL over the period
- Employed at least 3 Singaporean Citizens or Permanent Residents every month over the same period
- Have not been qualified at any of the earlier periods
Qualifying period
- 1 April 2019 – 31 March 2020
- 1 July 2019 – 30 June 2020
- 1 October 2019 – 30 September 2020
- 1 January 2020 – 31 December 2020
Workforce transformation consists of courses aligned to the different Industry Skills Frameworks by SSG, WSG and Professional Conversion Programmes and/or Enterprise transformation.
Eligibility criteria: During each qualifying period, eligible employers who meet the following conditions will be informed in writing –
- Contributed a minimum of s$750 SDL over the period
- Employed at least 3 Singaporean Citizens or Permanent Residents every month over the same period
- Have not been qualified at any of the earlier periods
Qualifying period
- 1 April 2019 – 31 March 2020
- 1 July 2019 – 30 June 2020
- 1 October 2019 – 30 September 2020
- 1 January 2020 – 31 December 2020
Find out more information about the programme here.
FAQ
To be eligible for PSG, companies must:
- Be registered or incorporated in Singapore
- Possess minimum 30% in local shareholdings
- Have either (a) Company’s Group Annual Sales Turnover of maximum S$100 million or (b) Company’s Group Employment Size of maximum 200 workers
- Use its equipment or IT Solution in Singapore only
Exclusions to the PSG include:
- Charities or Institutions of Public Characters (IPCs)
- Religious Entities
- Voluntary Welfare Organisation (VWO)
- Government agencies and subsidiaries
- Companies who have either made any payment to or signed a contract with a related supplier, vendor or third party to the PSG
Each company is subjected to an annual grant cap of s$30,000 from the period starting 1 April to 31 March the following year.
Applicants may either access the Business Grants Portal (BGP) under the “My Applications” section or refer to the email sent with the status of the submitted grant application.
You can simply indicate “Non applicable as I am still in my first financial year” in the fields asking for financial information.
Yes you will still be able to apply for PSG, as they are grants of different categories. The PSG is aimed at incentivising Singapore businesses to use digital solutions to improve their efficiencies.
The grant is available for application for customers till November 2021.
Our PSG solutions do not have a software license or serial number so in your application you can just indicate ‘Not Applicable (N/A)’ and the Processing Officer will assess accordingly.