The SME Digitalisation Grant in Malaysia has emerged as a pivotal initiative, leading the charge in promoting digital transformation among small and medium-sized enterprises (SMEs). Launched under the esteemed Budget 2023, this grant has become the driving force propelling Malaysian SMEs towards embracing digitalization and fortifying their competitiveness in an ever-evolving digital landscape.
As we enter 2023, the SME Digitalisation Grant stands as a steadfast pillar of support for eligible businesses, providing invaluable assistance to empower them to harness the full potential of technology and drive their growth. This grant continues to play a pivotal role in shaping the landscape for SMEs in Malaysia, bolstering their capabilities and facilitating success in the digital realm.
The SME Digitalisation Grant (Geran Digital PMKS Madani) is jointly administered by the Malaysia Digital Economy Corporation (MDEC) in partnership with Bank Simpanan Nasional (BSN) and MCMC. It presents an extraordinary opportunity for SMEs to embark on their digitalization journey.
This grant offers a remarkable matching grant scheme, empowering eligible businesses with financial support of up to 50% of the project fee, with a maximum amount of RM5,000.00. The grant covers a range of cutting-edge services, including:
1. Digital Marketing and Sales
2. Digital Payments/Electronic Point of Sale System (e-POS)
3. Human Resource Management (HR) and Customer Relationship Management (CRM) Systems
4. Enterprise Resource Planning (ERP) and Accounting
5. Digital Signatures
6. Internet of Things (IoT) and Smart Systems
To apply for the Geran Digital PMKS Madani, SMEs should follow the guidelines provided by the relevant authorities. The application process typically involves submitting the necessary documents and meeting specific eligibility criteria. For detailed information on the application procedure, interested SMEs can refer to the official websites of MDEC and BSN.
1. Ownership: At least 60% Malaysian ownership.
2. Registration: Registered with the Companies Commission of Malaysia (SSM) or licensed by the Local Authority (PBT).
3. Cooperatives: Registered with the Suruhanjaya Koperasi Malaysia (SKM) or licensed professionals.
4. Minimum Annual Sales: Minimum annual sales of RM 50,000.
5. Operational Period: In operation for at least six (6) months.
1. To apply for this grant, SMEs must submit the following documents:
2. Completed application form.
3. Copies of identification cards of the owner/director/partner or the appointed cooperative member.
4. Copy of the company’s registration certificate (SSM or other relevant forms under the Companies Act 2016). For cooperatives, a copy of the SKM registration certificate.
5. Company bank statements for the last two (2) months OR the latest audited financial statements OR the latest financial management account statements.
6. Quotations/Invoices from digital service providers listed by MDEC/MCMC/Telco.
1. Financial Assistance: The grant provides financial support, enabling SMEs to invest in digital technologies, software, hardware, and services, which might have been challenging to afford otherwise
2. Enhanced Competitiveness: By embracing digitalization, SMEs can optimize their operations, improve customer experiences, and explore new business opportunities, enhancing their competitiveness in the digital marketplace.
3. Increased Efficiency: Digital transformation empowers SMEs to automate processes, streamline workflows, and reduce manual tasks, leading to improved resource allocation and a focus on core operations.
4. Expanded Market Reach & Data-Driven Growth: With digital technologies, SMEs can leverage digital systems, automation, and AI technologies to accelerate their growth and reach a broader domestic and international customer base. This government grant, in collaboration with Digital Partner MC Crenergy, opens up new avenues for growth and revenue generation, while SMEs make significant contributions to Malaysia’s burgeoning digital economy.
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