Grab funding up to RM5,000 now – SME Digitalisation Grant Malaysia 2020.
29th November 2020
Attention SME’s, switch your business from offline to online now! Claim up to RM5,000 and grow your business digitally with SME Business Digitalization Grant from the government!
Grant amounting up to 50% or a maximum of RM 5,000 from the total invoice amount. This matching grant will be worth RM500 million over 5 years, limited to the first 100,000 SMEs applying to digitalise their business operations. Great deals on digital solutions from a wide list of panels listed by MDEC.
CR8 Consultancy is a certified & approved Technology Solution Providers (TSP) by MDEC offering BSN-MDEC SME Business Digitalisation Matching Grant up to RM5,000. If you are an SME interested in going digital, this is an opportunity not to be missed! Kickstart your digitalisation journey with us!
Check out our solutions that are entitled for the grant:
Application for SME Digitalisation Grant Workflow
SME to contact and appoint TSP for digitalisation service
SME to complete and submit application form along with required documents to Bank Simpanan National (BSN)
BSN process application
SME performs payment to the TSP and payment receipt to BSN (Estimated 14 Working Days)
BSN disburses remaining amount to TSP’s account (Estimated 5 Working Days)
1.What is SME Digitalisation Grant 2020?
The Ministry of Finance (MOF) is now giving a 50% matching grant of up to RM5,000 to Small & Medium Enterprises (SME) for the subscription of approved digitalisation areas. This matching grant will be worth RM500 million over 5 years, limited to the first 100,000 SMEs applying to digitalise their business operation.
2.What are the Digitalisation Areas covered under SME Digitalisation Grant 2020?
- Social Media Content Creation
- Facebook Ad Management
- Google Ad Management
- Search Engine Optimization (SEO)
- ECommerce & Website design
- Mobile app design
3.What are SMEs eligibility for SME Digitalisation Grant?
- 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; 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 Operation||Min. Annual Sales Turnover|
|1 Year||RM 100,000|
|More than 1 Year||RM 50,000 for two (2) preceding consecutive years.|
4.What are the required documents for SME Digitalisation Grant?
- Completed SME Digitalisation Initiative Application Form (Download here).
- A copy of the Identification Card or Passport of Director (s) / Partner (s) / Proprietor(s) of the SME, whichever is applicable.
- A copy of the SME’s business registration licenses (CCM or any similar forms under the Companies Act 2016).
- Latest audited financial statements or latest financial management account statement or the SME’s bank statement for the last two (2) months;
- Billing/invoice for the selected digitalisation services from the Service Provider listed by MDEC; and
- Company profile (if any)
5.What are the SME Digitalisation Grant application process workflow?
- The SME must contact and appoint one or more services of Service Providers listed by MDEC to perform any of the digitalisation services available (maximum of 3 digital services).
- The SME must complete and submit the application form together with the required supporting documents to the Service Provider.
- The Service Provider is to submit the application form together with the supporting document to the Bank.
- Once the SME’s application is approved, subject to the total invoice amount, the SME is responsible to pay the difference of the total invoice after deducting the subsidised amount granted from the Initiative for each digitalisation service to the Service Provider.
- The Bank will then make a direct 50% payment of the total invoice amount or up to RM5,000.00 to the Service Provider in one lump sum payment or in stages based on the Bank’s discretion.