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Claim your SME Business Grant Today!
Matching Grants for Small & Medium Enterprises (SMEs) to adopt business software and get your business digitalized!
*T&C applies. Subject to grant application and approval by MDEC
SME Business Digitalization Grant Malaysia
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- 1 year Cloud Access
- Android Application
- POS Software
- Free Hardware
- Contact & Membership Module
What is SME Business Digitalization Grant?
SME Business Digitalisation Grant is offered to small and medium enterprises under the 2020 Budget to obtain digitalization services from service providers registered with the Malaysia Digital Economy Corporation (MDEC) to guide and provide digitalization services to SMEs. e-POS is one of the selected areas because of the use of software such as Point-Of-Sale is designed to help SMEs run businesses more effectively.
Malaysian SMEs now can apply for Government-Matched Grants
The Malaysian Government is now providing a 50% matching grant of up to RM5,000 per company, for small and medium enterprises (SMEs) to digitize their business operations with online software such as BMO POS System. This grant opportunity which was announced during Budget 2020, is limited to 100,000 SMEs on a first-come-first-serve basis.
SME Digitalisation Grant Requirement
Your SME business is eligible to apply for the Malaysian grant if it fulfills the following requirements:
The company is at least 60% owned by Malaysian.
The company registered under the relevant laws of Malaysia
The SME has been in operation for atleast one (1) year
Company operation in one (1) year, company required to have a minimum annual sales turnover of RM 100,000
Company operation > two(2) years, company required to have a minimum annual sales turnover of RM 50,000 (preceding two (2) consecutive years)
Check out the application guidelines
SME Digitalisation Grant Application Process
- Complete the SME Digitalisation Initiative Application Form.
- Prepare the following documents:
- Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s).
- Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A).
- 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.
- The SME must contact and appoint one or more panel of Service Providers to perform any of the digitalization services available.
- 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.