SMEs are the key driver of employment and economic growth of Malaysia. In fact, almost 99% of the total business establishments in Malaysia are SMEs. On 18th March 2020, the Malaysia government imposed the Movement Control Order (MCO) requiring Malaysians to stay at home, and business activities are strictly prohibited. This has greatly affected Malaysian SMEs.
The government through the Ministry of Finance (MOF) is working together with Bank Simpanan Nasional, SME Bank and Malaysia Digital Economy Corporation (MDEC) in managing the grant to eligible Small & Medium Enterprises (SMEs) to adopt digitalisation in their daily operations and get a matching grant up to RM5000.
In this program, Exabytes as one of the eligible TSP partners is pleased to offer a suite of innovative digital services including web hosting, professional email, digital marketing, web design and SEO. We’re a one-stop solution provider of cloud-based services for SMEs.
In this blog post, let’s explore the features and terms and conditions for SME to apply for this digitalisation grant.
Features of the Grant
- To obtain the grant, SMEs must submit the invoice issued by Exabytes to BSN. Next, SMEs get the 50% Matching Grant (maximum RM5000; subject to approval).
- The SME Matching Grant is only applicable for Exabytes selected services only.
- SMEs can capture both domestic and international markets by going digital.
- The SME has Malaysian equity ownership of at least 60%.
- The SME is registered under the relevant laws of Malaysia.
- The SME has been in operation for at least one (1) year.
- For SMEs that have operated in one (1) year: minimum annual sales turnover of RM 100,000.
- For SMEs that have operated for more than two (2) years: minimum annual sales turnover of RM 50,000 in two (2) consecutive years.
- Complete Application Form & Declaration Form.
- Copy of business registration licenses (CCM, Form A/B, Form 24 & 49 and M&A or any similar forms under the Companies Act 2016).
- Audited financial statement for the last financial year and the latest management account or evidences of sales turnover (if any).
- Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s), whichever is applicable.
- Company’s bank statement for the last two (2) months.
- Invoice/billing and service agreement from an authorized vendor listed by MDEC.
- Company’s profile (if any).
- SME contacts and appoints Exabytes for digitalisation services.
- SME completes and submits the application form along with the required documents.
- Bank processes application (TAT: 15 Working Days).
- SME performs payment to Exabytes and provides payment receipt to BSN or SME Bank (TAT: 5 Working Days. Subject to approval).
- BSN disburses the remaining amount to Exabytes.
Exabytes Services that are applicable for this grant:
- SEO Services
- Managed Google Ads
- Managed Facebook Ads & Facebook Page Management
- Managed Alibaba Gold Supplier Account
- Managed Linked-in
- Sales Call Lead
- Domain Registration
- Shared Hosting
- Virtual Private Server (VPS)
- Dedicated Server
- Server Colocation
- Website Security Service
- Managed Corporate Website and Ecommerce Store
- and many more!
I hope that this blog post helps SME understand the SME Digitalisation grant provided by the government. For more information, please feel free to get in touch with our friendly staff at [email protected]