COVID-19 has accelerated digital transformation in Singapore

COVID-19 has accelerated digital transformation in Singapore, hastens Smart Nation drive. Why?

During COVID-19 and Circuit Breaker, all businesses are affected, especially the Food and Beverage (F&B) and retail sector. They are unable to open their physical shops or offices. Most of us need to telecommute and work from home. The government has rolled out various digitalisation grants to help businesses during this tough times.

As announced at the Fortitude budget, companies in the Food and Beverage (F&B) and retail sector could receive up to $10,000 each in payouts under Digital Resilience Bonus to accelerate digital transformation.

The various digitalization schemes are announced in the unity, resilience, solidarity and fortitude budget in a short span of 2 months.

Here are some of the digitalization grants to help SMEs in time of COVID-19:

1) Productivity Solutions Grant (PSG)

Productivity Solutions Grant (PSG) supports companies who take on pre-scoped IT solutions and equipment that enhances productivity.

As announced at Supplementary Budget 2020, PSG is raised from 70% to 80% support from 1 April 2020 to 31 December 2020. The scope of generic solutions will also be expanded to help companies carry out COVID-19 business continuity measures:

  1. Online collaboration tools
  2. Virtual meeting and telephony tools
  3. Queue management systems
  4. Temperature screening solutions

PSG also cover the Laptop-Bundled Remote Working Solutions from 17 April until 31 December 2020.

2) E-Commerce Booster Package

With the uncertainty of COVID-19 situation, the launch of E-Commerce Booster package target to help the brick-and-mortar retailers and heartland businesses to take their business online. This allows them to reach out to their customers during circuit breaker.

Businesses can choose from one of the preferred e-commerce partners to take their business to the online marketplace.

Retail business participating in this programme can also apply for an additional manpower support – a one-time support to defray 90% of the qualifying manpower costs for 3 months.

3) Enterprise Development Grant (EDG)

Companies who would like to automate their business processes to gain significant growth can tap onto ESG grant under Automation. The grant covers the development of sophisticated hardware and/or software solutions. It also include the development of solutions that involve purchase of machinery and integration of systems. Moreover, it also covers the training of staff to deploy the solutions.

The funding covers up to 80% of the qualifying costs from 1 April 2020 to 31 December 2020.

Don’t miss out these opportunities to embark in your digital journey.

To help businesses during COVID-19, we are offering FREE consultation. Email us at hello@theyellowbug.com with your company name.

Or you may check out our e-commerce solutions specially designed for the Food and Beverage (F&B) and retail businesses.