Image credit: The Business Times
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 the digitalisation of 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 turnover should hit a minimum of RM100,000 for a year, or that the SME has an annual turnover of RM50,000 with two years of 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 services tax).
Prospective SMEs would only need to pay RM5,000 while the remainder is topped up by the SME grant.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 extend assistance to SMEs in their applications for the grant.
SMEs interested in taking up the grant may scan the QR code or visit https://smegrant.thestar.com.my/ for more information.
Source: https://www.thestar.com.my/business/business-news/2020/10/17/smes-to-receive-grants-for-going-digital