SME (Small and Medium Enterprise) Digitalisation Initiative is another award drive to help SMEs to take on digitalization in their business tasks. A half matching award of up to RM5,000.00 per SME will be given over a time of 5 years for the membership of digital services that will improve their efficiency and seriousness.
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SME Eligibility.
- The SME is something like 60% possessed by Malaysian individually
- The SME is enrolled under the significant laws of Malaysia and named SME;
- The SME has been in activity for no less than one (1) year; and
- For SMEs which has been in activity for one (1) year, the SME is expected to have a base yearly deals turnover of RM100,000.00 for the principal year; and
- For SMEs which have been in activity for two (2) years or more, the SME is expected to have a base yearly deals turnover of RM50,000.00 for the previous two (2) sequential years.
Required Documents.
- Finished SME Digitalisation Initiative Application Form.
- Duplicate Identity Card or Passport of Director (s)/Partner (s)/Proprietor(s), whichever is relevant.
- Duplicate business enlistment licenses (CCM, Form A/B, Form 24 and 49, and M&A or any comparative structures under the Companies Act 2016).
- Examined fiscal summary for the last monetary year and the most recent service account. (if any) or confirmations of deals turnover (if any).
- Organization’s bank explanation for the last two (2) months.
- Organization’s profile (if any).
- Receipt/charging and service understanding from approved seller recorded by MDEC.
- Some other data and records as and when expected by the bank.
Application Steps.
- The SME should contact and delegate at least one board of Service Providers to play out any of the digitalisation services accessible (limit of 3 boards).
- The SME should finish and present the application structure along with the necessary supporting records to any of the Bank’s offices.
- Once the SME’s application is endorsed, the SME is dependable to pay the distinction of the complete receipt in the wake of deducting the sponsored sum allowed from the Initiative and to give confirmation of installment to any of the Bank’s offices.
- After confirmation of installment is given, dependent upon the complete receipt sum, the Bank will make a direct half installment of the all-out receipt sum or up to RM 5,000.00 to the Service Provider in one single amount installment or stages founded on the Bank’s watchfulness.
How to Apply For SME Digitalisation Grant Scheme?
The SME should contact and delegate at least one board of Service Providers recorded by MDEC to play out any of the digitalisation services accessible (limit of 3 advanced services). The SME should finish and present the application structure alongside expected archives to the Service Provider.
The Service Provider is to present the application structure along with the supporting archives to the Bank. When the SME’s application is endorsed, dependent upon the absolute receipt sum, the SME is capable to pay the distinction of the complete receipt in the wake of deducting the financed sum allowed from the Initiative for every digitalization service to the Service Provider. The Bank will then make a direct half installment of the complete receipt sum or up to RM5,000.00 to the Service Provider in one single amount installment or stages founded on the Bank’s caution.
