SME BUSINESS DIGITALISATION GRANT

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SME BUSINESS DIGITALISATION GRANT

Yea Business falls under the Technology Service Provider (TSP) category created by Malaysia Digital Economy Corporation (MDEC) to support Small-to-Medium Enterprise (SMEs) digitalise.

 

In conjunction with Budget 2020, BSN has been appointed by the Ministry of Finance (MOF) to become the key mover in providing matching grants for SMEs to help improve digitally and move them more effectively and rapidly into the technology ‘bubble’.

 

The Government will provide a 50% matching grant or a maximum of RM 5,000 from the total invoice amount for each SME that is participating and are eligible. Each SME will be eligible to subscribe to three out of five digital services, and this grant will only be provided to the first 100,000 participants applying to upgrade their systems.

WHO IS ELIGIBLE?

The SME is at least 60% owned by Malaysian individually.

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 with minimum annual sales turnover(refer to the table below.

YEAR OF OPERATION
1 Years

MIN ANNUAL SALES TURNOVER
RM100,000

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YEAR OF OPERATION
More Than 1 Years
MIN ANNUAL SALES TURNOVER
RM50,000 for Two(2) Preceding Consecutive Years

GRANT APPLICATION

SMEs interested to apply the grant can fill out the form provided by BSN here. Only the SME is authorised to complete and submit the application form with the relevant supporting documents to any of the Banks’ branches or via company official email.

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.

eTrade Programme 2.0

An enhancement of eTrade Programme under the RMK-11 with the purpose to accelerate exports via sustained participation in cross-border eCommerce platforms. The programme will continue to assist new companies to onboard cross-border eCommerce platform for export with an incentive of up to RM5,000 for any cross-border eCommerce platform(s), for a one-year subscription. At the same time, a new incentive with a maximum amount up to RM20,000 per company will be provided to companies that are already doing eCommerce to undertake activities that can sustain their participation in the cross border eCommerce platform. The incentive is to be utilised within one (1) year.

RM5,000 grant for onboarding any cross-border eCommerce platform or multiple platforms, per company, for one (1) year subscription / one (1) year activities

RM20,000 grant for undertaking any digital marketing activities, per company, for one (1) year subscription / one (1) year activities

WHO IS ELIGIBLE?

Registered with SSM – open to ROC / ROB / LLP / Co-operatives registered with SKM

Made in Malaysia – selling Malaysian made products or Malaysian brand registered with MyIPO

Must be registered for MyExport

Must be a MATRADE member and have undertaken Exporters Readiness Assessment Test (ERAT)

Malaysian Owned – at least 60% Malaysian ownership

SME – in accordance to SMECorp SME Definition

Open for Manufacturer / Trading Company only

Additional Criteria for Onboarding Scheme:

  • Minimum 6 (six) months in operation
  • Have not received the eTRADE incentive before

Additional Criteria for Digital Marketing and Training Scheme (DMT):

  • Minimum 1 (one) year in operation
  • eCommerce ready – must have been selling on cross-border eCommerce
    platform(s) for no less than 1 (one) year

 

For detailed information about eTrade Programme 2.0, visit here.

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