Due to the current COVID-19 pandemic, we are forced to stay in the safety of our own homes. It includes students and working professionals who now have to work from home. We are also advised not to go outside unless for essentials, such as food and house necessities.
Businesses in Singapore have taken a negative hit because of this, especially small and medium enterprises (SME). Many owners have no choice but to close their venture for an indefinite period or shut it down completely. To stay afloat, some are moving online to do their business. However, start-up businesses and SMEs may not have the time and resources to create digital platforms for their products or services.
Luckily, the Singapore government is accepting applicants for various aid programs that help workers, employers, and companies during these hard times. If you are a business owner and looking into moving your venture online, there are government grants that would support you in your digital endeavours.
If you are interested, here are some of the government grants in Singapore and how to apply for them.
1. Productivity Solutions Grant (PSG)
The Productivity Solutions Grant (PSG) helps companies and SMEs in adopting IT solutions and equipment to improve the way they do their business.
The solutions offered by the PSG grant have been pre-scoped by local government agencies like Enterprise Singapore, National Environmental Agency (NEA) and Singapore Tourism Board (STB). It includes sector-specific solutions such as retail, food, logistics, precision engineering, construction and landscaping industries.
The program also assists ventures in the option of solutions that are applicable in various industries including customer management, data analytics, financial management and inventory tracking. Furthermore, the PSG grant recently extended its generic solutions to help business in implementing COVID-19 business continuity measures such as 1.) online collaboration tools, 2.) virtual meeting and telephony tools, 3.) queue management systems and 4.) temperature screening solutions.
For SMEs who are interested in applying for the PSG grant, here are some of the criteria you need to meet:
- Your business is registered and operating in Singapore
- The purchase or subscription of the IT solutions or equipment must be used in Singapore
- Your venture must have a minimum of 30% local shareholding; with Company’s Group annual sales turnover less than S$100 million, OR less than 200 employers (applicable for selected solutions only)
2. SMEs Go Digital
Small and medium enterprises employ two-thirds of Singapore’s workforce and contribute nearly half of the nation’s Gross Domestic Product (GDP). The temporary business shut down affects not only these ventures and their employees but also the overall economy. As a result, government grants in Singapore, such as SMEs Go Digital, focus on assisting small businesses in transferring their transactions online.
A goal of the SMEs Go Digital program is to help small and medium enterprises in using digital technologies to improve their business operations and generate new revenue despite the pandemic. It aims for these ventures to build stronger understanding and skills to make the most from the economic opportunities in the digital landscape.
SMEs Go Digital’s core purpose is built on the foundation of other programs like Enhanced iSPRINT. It has a structured and inclusive approach to the adoption of digital technologies.
Under this government grant are several programs that cater to specific needs of your business, in terms of going digital. To know more about these programs, you can check the details here.
GOING DIGITAL ON YOUR OWN
It is important to remember that government grants in Singapore cannot support all SMEs. If your business does not meet the requirements or your application was not accepted, do not let this stop you from continuing your venture.
Remember that though intimidating, digital marketing is not impossible to do. Many businesses, even before the pandemic, have gone online to attract potential customers for their product or service. Skills and knowledge of digital marketing is something that you can acquire, and you can do it in the comfort of your own home. There are many available resources online that can help you in the ins and outs of digital platforms. If you want something more comprehensive, there are also online courses you can take.
Digital marketing utilizes platforms that you may already be familiar with as an internet user. Here are some of the possible approaches you can do for your venture:
- Search Engine Optimization (SEO)
– SEO consists of several digital marketing techniques that direct potential customers to your website. It is free and is an ideal approach to gain traction in the long term. However, to optimize your website, it includes some technical aspects such as writing content, creating graphics, and website design and administration. Furthermore, it takes time before you bear the results of your SEO plan.
- Search Engine Marketing (SEM)
– If you want something to reach your customers faster, SEM might be for you. SEM are ads that appear at the top of search engines, such as Google, when the user searches keywords related to your product or service. Unlike SEO, SEM is paid ads, though it allows you to customize your marketing based on your budget. This approach also requires specific knowledge in keyword searching and search engine analytics to make your marketing successful.
- Social Media Marketing
– As many of us are stuck in our homes, we are most likely spending time on social media more than usual. You can utilize different social platforms to engage your customers, give updates about your product or service, and assist them on how they can contact you. Different platforms give you various options regarding the medium you will use for marketing. You can use images for Instagram, while you may upload videos on Youtube. Again a holistic understanding of these different social media platforms will help you in maintaining your business online.
Digital marketing is a world of possibilities. However, not every business owner has the time and resources to study everything about digital marketing. Most SMEs also do not have an in-house marketing team to help them with the process.
With that said, it is not the end of your journey. There are a lot of digital marketing firms in Singapore you can hire that provide services to businesses looking to make their presence known online.
SEVEN WOLVES DIGITAL MARKETING FOR SMES IN SINGAPORE
Managing your business’ digital marketing strategies on your own is tough. Instead of planning them yourself, as mentioned earlier, you can hire a team of experts in this particular field, to do it for you. Seven Wolves has a team of digital marketing gurus that specializes in various aspects of digital marketing. The digital landscape is continuously changing. Having people, whose sole responsibility is to map-out that landscape for you, will assist your venture moving forward.
When working with us, we take all aspects of your business, including your budget. We offer packages, where you can get various digital marketing services for your business in Singapore that is worth your money. We can help you from creating SEO plans for running social media ads. We got you covered!
Hiring people to do digital marketing keeps you from the trial and error stage and gives you time to take better care of the other aspects of your business. We do it right because digital marketing is our business, and our business involves growing yours to new heights. Seven Wolves will help you thrive in digital marketing’s ever-changing landscape, and to do it better than anyone else.
Interested? Collaborate with Seven Wolves to put your digital marketing game to another level and introduce you to a world of possibilities. Contact us today.