SME Digitalisation Initiative (Grant)
𝑾𝒉𝒂𝒕? You are still operating your business manually? Tired of doing a huge amount of works manually? Inefficient and time-consuming workflows are the major factors that lead to poor business performances.
𝑾𝒐𝒓𝒓𝒚 𝒏𝒐𝒕! Now's a great chance to get your business digitalised! The Ministry of Finance (MoF) is now giving a total of RM500 million grants to Small & Medium Enterprises (SME) to adopt Digitalisation in their daily operations. This project will last for 5 years and every SMEs are encouraged to replace their manual working practice with digital technologies.
𝑾𝒐𝒓𝒓𝒚 𝒏𝒐𝒕! Now's a great chance to get your business digitalised! The Ministry of Finance (MoF) is now giving a total of RM500 million grants to Small & Medium Enterprises (SME) to adopt Digitalisation in their daily operations. This project will last for 5 years and every SMEs are encouraged to replace their manual working practice with digital technologies.
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Worth
RM500 Million |
Duration
5 Years |
Open for the first 100,000
SMEs annually |
For the purpose of levelling up
the process of digitalisation among the SMEs |
The Government will be paying 50% of the purchase amount up to a maximum of RM5,000 for the approved applications
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FEATURES OF GRANT
» Grant amounting up to 50% or a maximum of RM 5,000 from total invoice amount.
» Great deals on digital solutions from a wide list of panels listed by MDEC.
» Wide range of digitalisation areas:
» Great deals on digital solutions from a wide list of panels listed by MDEC.
» Wide range of digitalisation areas:
- Electronic Point of Sale System (e-POS)
- Human Resource Payroll System (HR) / Customer Relationship Management (CRM)
- Digital Marketing / Sales
- Procurement
- Enterprise Resource Planning (ERP) / Accounting & Taxation
SME ELIGIBILITY
» The SME is at least 60% owned by Malaysian invidually;
» The SME is registered under the relevant laws of Malaysia and classified as SME;
» The SME has been in operation for at least one (1) year; and
» For SMEs which has been in operation for one (1) year, the SME is required to have a
minimum annual sales turnover of RM100,000.00 for the first year; and
» For SMEs which have been in operation for two (2) years or more, the SME is required to
have a minimum annual sales turnover of RM50,000.00 for the preceding two (2)
consecutive years.
» The SME is registered under the relevant laws of Malaysia and classified as SME;
» The SME has been in operation for at least one (1) year; and
» For SMEs which has been in operation for one (1) year, the SME is required to have a
minimum annual sales turnover of RM100,000.00 for the first year; and
» For SMEs which have been in operation for two (2) years or more, the SME is required to
have a minimum annual sales turnover of RM50,000.00 for the preceding two (2)
consecutive years.
Years of Operations |
Min. Annual Sales Turnover |
1 year |
RM100,000 |
More than 1 year |
RM 50,000 for two (2) preceding consecutive years |
REQUIRED DOCUMENTS
» Completed SME Digitalisation Initiative Application Form.
» Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s),
whichever is applicable.
» Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A or
any similar forms under the Companies Act 2016).
» Audited financial statement for the last financial year and the latest management account.
(if any) or evidences of sales turnover (if any).
» Company's bank statement for the last two (2) months.
» Company's profile (if any).
» Invoice/billing and service agreement from authorized vendor listed by MDEC.
» Any other information and documents as and when required by the bank.
» Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s),
whichever is applicable.
» Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A or
any similar forms under the Companies Act 2016).
» Audited financial statement for the last financial year and the latest management account.
(if any) or evidences of sales turnover (if any).
» Company's bank statement for the last two (2) months.
» Company's profile (if any).
» Invoice/billing and service agreement from authorized vendor listed by MDEC.
» Any other information and documents as and when required by the bank.
APPLICATION STEPS
1. The SME must contact and appoint one or more panel of Service Providers to perform any
of the digitalisation services available (maximum of 3 panels).
2. The SME must complete and submit the application form together with the required
supporting documents to any of the Bank's branches.
3. Once the SME's application is approved, the SME is responsible to pay the difference of
the total invoice after deducting the subsidized amount granted from the Initiative and
to provide proof of payment to any of the Bank's branches.
4. After proof of payment is provided, subject to the total invoice amount, the Bank will make
a direct 50% payment of the total invoice amount or up to RM 5,000.00 to the Service Provider
in one lump sum payment or in stages based on the Bank's discretion.
of the digitalisation services available (maximum of 3 panels).
2. The SME must complete and submit the application form together with the required
supporting documents to any of the Bank's branches.
3. Once the SME's application is approved, the SME is responsible to pay the difference of
the total invoice after deducting the subsidized amount granted from the Initiative and
to provide proof of payment to any of the Bank's branches.
4. After proof of payment is provided, subject to the total invoice amount, the Bank will make
a direct 50% payment of the total invoice amount or up to RM 5,000.00 to the Service Provider
in one lump sum payment or in stages based on the Bank's discretion.