??? Digitalisation Grant 2021
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 that initiated by Malaysian Government to help the SME to adopt digitalisation for their daily business. This SME digitalisation grant’s TSP (Technology Service Provider) is managed by MDEC and the approval processes are managed by BSN Bank and SME Bank
Who is eligible to apply this SME Digitalisation Grant ?
Any Malaysian own SME registered with SSM, either sole proprietor, partnership or Sdn Bhd is eligible to apply this grant. However, there are some terms and conditions , as follow :
1) The SME must NOT 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 millions (for manufacturing industry ) or 20 millions (for 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 operates at least 1 year with yearly sales turnover more than RM 100,000
If all the requirements above are fulfilled, then the SME is eligible to apply the SME Digitalisation Grant.
How to apply 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
v. Enterprise Resource Planning (ERP) / Accounting & Taxation
vi. Remote Working
After you decided which digital service you want to apply, then you need to apply it through TSP (technology Services Provider) which are approved and appointed by MDEC
Who is the Technology Service Provider (TSP) approved/authorized by MDEC ?
You can get the full list of TSP approved by MDEC here (PDF File, update Dec 2020)
Could I apply the grant from any services provider that not in the MDEC’s TSP list ?
No. You must apply the grant through the approved TSP listed by MDEC.
Who will assist me to fill up the SME Digitalisation Grant form ?
The TSP who approved by the MDEC will assist and guide you how to fill up the SME digitalisation grant form.
How much I could apply for the digitalisation Grant ?
This is a matching grant and 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 e-POS (Electronic Point Of Sales) system which cost you RM 2,000, CRM (Customer Relationship Management ) system which cost you RM 3,000 and Digital marketing service which cost you RM 5,000. The total cost is RM 10,000. The Government will subsidy you RM 5,000 (maximum) and you only pay RM 5,000 for the total cost.
What if the digital services I apply is more than RM 10,000 ?
If the digital services you apply is 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 own 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 5,0000)= RM 7,0000
Any documents I need to submit for this SME digitalisation Grant ?
Yes, if you are Sdn Bhd, basically you need to submit form 9,form 24, form 49, M &A, Audited financial report 2019, management account 2020 , last 2 months bank statement, Director IC photocopy and other documents need by the processing bank. No worry, the TSP shall guide you what documents need to be prepared.
To Whom shall I submit the application of SME Digitalisation Grant ?
You can choose either submit the application 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 ?
From past records, it will take 2-3 months for your grant application to get approved.
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. Example of the approval offer letter :
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 TSP bank account.
Interested to apply ? you can contact Maximus System Solutions Sdn Bhd, an approved TSP by MDEC for SME digitalisation Grant . They provide Google Ads, Web Design and SEO with price started from RM 8,000 (Meaning Government will sponsor RM 4,000) . you can click here to learn more about their SME Grant Package.