SMEs to receive grants for going digital


  • SME
  • Monday, 19 Oct 2020

IN a move to assist small and medium-size enterprises (SMEs) embrace the advent of the Industrial Revolution 4.0, the Government is providing grants when these companies invest in digitalisation for their daily operations.

Through the Finance Ministry, the Government is collaborating with Bank Simpanan Nasional (BSN), SME Bank and Malaysia Digital Economy Corporation (MDEC) to manage these grants.

An amount of RM500mil has been allocated towards this endeavour.

Depending on how much an SME spends, it has the potential to receive a grant that matches its spending up to RM5,000.

For example, if an SME were to invest RM3,000 in digitisation, it is entitled to receive a grant amounting to RM3,000, making a total of RM6,000.

An SME that spends RM10,000 would receive RM5,000 as that amount is the limit, which effectively tops up the total to RM15,000.

To be eligible for the grant, the SME should satisfy several key criteria, the first being that the company should be 60% owned by Malaysians and registered under the relevant laws of the country. It should also be in operation for at least a year.

The second criterion states that the company’s annual sales turnover should hit a minimum of RM100,000 for a year, or that the SME has an annual sales turnover of RM50,000 with two years operation or more.

Innity has collaborated with the Star Media Group (SMG) to bring world-class digital marketing solutions that are tailored for local businesses and SMEs across all markets.

As a leading news source and integrated media group for 49 years, SMG’s collaboration with Innity aims to help SMEs grow and become successful in the digital world.

This collaboration offers SMEs four digitisation packages, all of which are priced at RM10,000 (excluding the sales and service tax). Application closes Dec 31 but the packages are valid until next year.

As first timers in the world of digital advertising, SMEs who sign up with these packages will certainly benefit from these attractive packages, which will add leverage to their own products or services.

SMG will also assist SMEs in their applications for the grant as well.

All these packages are priced at RM10,000 each. Prospective SMEs would only need to pay RM5,000 while the remainder is topped up by the SME grant.

SMEs interested in taking up the grant, visit https://smegrant.thestar.com.my/ for more information.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

   

Next In Business News

World stocks upbeat on hopes for China re-opening, inflation peaking
Tabung Haji confident of registering competitive profits this year despite challenges
PETRONAS' net profit more than double in the first nine months
Capital A posts bigger loss in 3Q, maintains positive outlook
Axiata, Telenor complete Celcom-Digi merger
Bank Islam posts higher net profit of RM142.86mil in 3Q
Raja Teh Maimunah appointed as CEO of Aeon’s digital bank
Ringgit ends higher against US dollar on positive China sentiment
BCorp expects satisfactory performance in FY23
TCS wins RM119mil construction contract

Others Also Read