Get your Matching Grant Up to RM5000 with SME Digitalisation Initiative

Apply SME Digitalisation Grant 2021

 

Frequently asked questions

What is SME Digitalisation Grant ? How To Apply It? Who is the Approved /Authorized TSP by MDEC and BSN? Here are the general Questions And Answers.

What is SME Digitalisation Grant ?

SME Digitisation Grant is a matching grant initiated by the Malaysian Government to help SMEs adopt digitalization for their daily business. MDEC manages this SME digitalization grant’s TSP (Technology Service Provider), and the approval processes are controlled by BSN Bank and SME Bank

Who is eligible to apply for this SME Digitalisation Grant?

Any Malaysian SME registered with SSM, either sole proprietor, partnership, or Sdn Bhd, is eligible to apply for this Grant. However, there are some terms and conditions, as follow :

1) The SME must NOT be owned by any listed company in BURSA Malaysia or any multi-national company or federal government or state government.

2) The SME’s yearly sales must NOT exceed 50 million (for the manufacturing industry ) or 20 million (for the services industry )

3) The SME’s full-time workers must NOT exceed 200 people (for manufacturing industry) or 75 people (for services industry)

4) The SME must operate at least six months with a yearly sales turnover(average) of more than RM 50,000

If all the requirements above are fulfilled, the SME can apply for the SME Digitalisation Grant.

How to apply for the SME Digitalisation Grant?

First of all, you need to choose which digital services you want to apply, there are :

i. Electronic Point of Sale System (e-POS)

ii. Human Resource Payroll System (HR) / Customer Relationship Management (CRM)

iii. Digital Marketing / Sales

iv. Procurement

v. Enterprise Resource Planning (ERP) / Accounting & Taxation

vi. Remote Working

vii. E-Commerce

After you decide which digital service you want to apply, you need to use it through TSP (technology Services Provider), approved and appointed by MDEC.

Could I apply for the Grant from any services provider that not on the MDEC’s TSP list?

No. You must apply for the Grant through the approved TSP listed by MDEC.

Who will assist me in filling up the SME Digitalisation Grant form?

The TSP who the MDEC approves will assist and guide you on how to fill up the SME digitalization grant form.

How much could I apply for the digitalization Grant?

The Malaysian Government will subsidy 50% of the total cost or up to RM 5,000. Whichever is lower.

Can I choose more than 1 (one) TSP from the list approved by MDEC?

Yes, you can choose up to 3 (three) TSP that provide digital services, as long as the allocated budget (Maximum RM 5,000) is not fully utilized.

For example, you apply an eProcurement system which costs you RM 2,000; CRM (Customer Relationship Management ) system, which costs you RM 3,000; and Digital marketing service, which costs you RM 5,000. The total cost is RM 10,000. The Government will subsidize you RM 5,000 (maximum) and only pay RM 5,000 for the total cost.

What if the digital services I apply for are more than RM 10,000?

If the digital services you apply for are more than RM 10,000, for example. RM 12,000. Then if your Grant is approved, you need to pay RM 7,000 from your pocket. It is because the maximum grant amount that the Government will pay is RM 5,000. So you need to pay (RM 12,000 – RM 5,000)= RM 7,000

Any documents I need to submit for this SME digitalization Grant?

Yes, if you are Sdn Bhd, basically you need to submit form 9, form 24, form 49, M &A, Audited financial report 2020, management account 2020, last two months bank statement, Director IC photocopy, and other documents needed by the processing bank. No worry, the TSP shall guide you on what documents need to be prepared.

To Whom Shall I apply for the SME Digitalisation Grant?

You can choose either to apply to the nearest BSN branch or, submitted to SME Bank. Again, no worry, the TSP is allowed to help you to submit.

How long will it take to process the SME Grant application?

It will take 2-3 weeks or longer for your grant application to get approved from records.

How do I know my SME Grant application is approved?

The bank (either SME Bank or BSN Bank) will email and attached an approval offer letter to inform you. 

After the Grant is approved, what should I do next?

You shall request the official receipt from your TSP and submit the proof of payment together with the “Akuan Terima Tawaran” (Acceptance Of Offer Letter) to the bank which approved your application. Then the bank will directly online transfer the approved grant amount to the TSP bank account.

Interested to apply ? you can contact CDC International Sdn Bhd, an approved TSP by MDEC for SME digitalization Grant. We provide eProcurement System(SPEED) and Tender Notification System(Tender2u) and eMarketplace(SENNEGO).

smedigitalgrant55