~Updated on 27th October 2022~
Due to an overwhelming response, MDEC announced that the SME Business Digitalisation Grant Initiative has reached its maximum allocation. Hence, this initiative is discontinued immediately effect.
In collaboration with the Malaysian Digital Economic Corporation (MDEC), SME Bank, and Bank Simpanan Nasional, the Ministry of Finance has launched a digitalisation grant to encourage SMEs to incorporate digital technologies into their daily operations. If you are an SME considering going digital, this is a must-see opportunity! The Malaysian SME Digitalisation Initiative provides eligible SMEs with a 50% matching grant of RM5,000.
What is SME Grant?
The SME (Small and Medium-Sized Enterprise) Digitalisation Initiative is a new grant programme designed to assist SMEs in adopting digital technologies. A 50% matching grant of up to RM5,000.00 will be given to each SME over five years to digital subscription services to improve their efficiency and competitiveness.
Digital Services Covered Under the SME Grant:
There are seven (7) areas of Digitalisation services available as follows:
- Electronic Point of Sale System (e-POS)
- Human Resource Payroll System / Customer Relationship Management (CRM)
- Digital Marketing / Sales
- Enterprise Resource Planning (ERP) / Accounting and Taxation
- Remote Working
In case you’re wondering, yes! Softinn is honoured to have been selected as a Technology Solution Provider (TSP) to aid SMEs with their digital transformation efforts. Interested? Click here for more details!
Am I Eligible To Apply? What Are The Requirements?
SMEs that meet the following criteria are eligible and encouraged to apply:-
- Available to SMEs and Cooperative (“Koperasi”) registered under the relevant laws of Malaysia
- 60% owned by Malaysian
- Annual Sales / Revenue:
- The SME/Coop has been in operation for at least six (6) months; and
- The SME/Coop has a minimum average annual sales turnover of RM50,000.
Application Guide For SME Grant For 2022
Every year, there will be slight amendments to the process of SME Grant application. Here are the simplified process of SME Grant application for eligible Softinn’s merchants for 2022 😉
Step 1. The hotel submits an application to Softinn here.
Step 2. The hotel will download the SME Grant Application form here.
Step 3. Softinn will provide Invoices and Service Agreements to SME
SME sends the documents to Softinn for checking purposes
Step 4. Softinn provides BSN Main branch details to Hotels
Step 5. Fill up the application form along with the required documents.
Step 6. The hotel pays Softinn 50% or whichever the amount after deducting the grant (The maximum grant amount is RM5,000) and submits the proof of payment to Softinn in order for Softinn to provide the Official Receipt
Step 7. Once all documents are ready, the hotel scans all the documents as a softcopy (in case hardcopy went missing)
Step 8. The hotel writes “Geran Digital Bahagian Micro Business” with the BSN Officer's name on the top left corner of the envelope
Step 9. All applications must be submitted via COURIER (using Poslaju) / walk-in to BSN Main Branch
Step 10. Take a picture of the Poslaju courier slip with tracking no. & share with Softinn (if via Courier)
Step 11. Hotels keep track of Poslaju tracking history (if via Courier)
Step 12. Hotels inform Softinn once the documents have been delivered & received by BSN
(if via Courier)
Step 13. The hotel shall follow up with the bank and update Softinn on the progress of the Grant within the 6 weeks from the date of grant submission.
Step 14. Setup Softinn trial account while waiting for bank approval (14 working days)
Step 15. 6 weeks from the date of grant submission OR date of account activation, whichever is earlier, if Softinn receives no news from the Hotel on the grant status (either no progress, still in progress, or rejected), Hotel shall pay Softinn the remaining amount while waiting for the grant’s approval.
Step 16. Should the grant is approved and disbursed by the bank to Softinn later, Softinn shall refund the subsidized amount to the Hotel accordingly.
Now that you are familiar with the overall process, below are several important notes for you to take! Remember, these are all vital. Failure to comply with these can/may result in your application being rejected.
- Original Application Form with handwritten SME company director signature
The address on the Application form will need to be the same as the SSM
- Attached are all SME company directors' NRIC copy
- Invoice provided by TSP with need the TSP signature w.e.f from 15 Jan 2021
The invoice will be valid for 6 months from the invoice date
- Attach the official receipt provided by TSP, if the SME has made a 50% payment to TSP before the submission of the SME Grant application
The receipt amount must be lesser than the invoice amount.
If you have any more questions, you can go to our SME Digitalisation Grant Application Guide page for more details.
BSN Main Branch List
For your convenience, here is the official 2022 BSN Main Branch List. Simply download here: Download