Businesses must transform and adapt, as digitalisation becomes inevitably more deeply entrenched in our lives in a post-COVID world. The Digital Resilience Bonus (DRB) aims to uplift the digital capabilities of a broad base of enterprises. DRB targets two separate sectors – food services and retail, as they are the most affected by COVID-19. Thus, there is a greater urgency for these sectors to digitalise and adapt quickly due to the consumer-facing nature of their businesses. 

The DRB will be paid out on top of the enhanced digitalisation assistance provided under the SMEs Go Digital programme. Eligible enterprises can receive payouts of up to $10,000 if they: 

• Adopt PayNow Corporate and PEPPOL e-invoicing; and

• Adopt the digital solutions in the required categories.

There are more than 100 digital solutions available that have been pre-approved under the SMEs Go Digital programme, and Bona Technologies is proud to be one of them for Inventory Management Solutions and e-Commerce Solutions.

The Productivity Solutions Grant (PSG) supports companies in the adoption of pre-scoped IT solutions and equipment that enhances productivity. PSG covers sector-specific solutions including the retail, food, logistics, precision engineering, construction and landscaping industries. Other than sector-specific solutions, PSG also supports adoption of solutions that cut across industries, such as in areas of customer management, data analytics, financial management and inventory tracking. 

Companies can apply for PSG if they meet the following criteria:

• Registered and operating in Singapore

• Purchase/lease/subscription of the IT solutions or equipment must be used in Singapore

• (Selected solutions only) An SME with minimum 30% local shareholding; AND Company’s Group annual sales turnover less than S$100 million, OR less than 200 employees

The maximum funding support level will be raised to 80% from 1 April 2020 to 31 December 2020.