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Good News for SME! Get your Matching Grant up to RM5,000 with SME Digitalization Initiative!
In conjunction with Budget 2020, The Ministry of Finance (MOF) is working together with Bank Simpanan Nasional (BSN), SME Bank and Malaysia Digital Economy Corporation (MDEC) in managing the grants to Small & Medium Enterprises (SME) to adopt Digitalisation in daily operations.
The Government will provide a 50% matching grant of up to RM5,000 per company for the subscription of the above services. This matching grant will be worth RM500 million over 5 years, limited to the first 100,000 SMEs applying to upgrade their systems.
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.
- 5 Digitalisation Areas:
Electronic Point of Sales (e-POS System)
HR Payroll System/CRM
ERP/Accounting & Tax
- Company is at least 60% owned by Malaysian.
- Company is registered under relevant laws of Malaysia and classified as SME.
- Company has been in operation for at least one (1) year.
- Company operation in one (1) year, company required to have a minimum annual sales turnover of RM100,000 for first year.
- Company operation for two (2) years or more, company required to have a minimum annual sales turnover of RM50,000 for preceding two (2) consecutive years.
How to Apply
- 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).
- The SME must complete and submit the application form together with the required supporting documents to any of the Bank's branches.
- 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.
- 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.
Should you have any further inquiry may direct contact relevant units in charges
BSN 1300-88-1900 | SME 03-2603 7700 | MDEC 1800-88-8338