1) What is SME Digitalisation Grant?
SME Digitalisation Initiative is a new grant initiative provided by the Ministry of Finance Malaysia to assist Small and Medium Enterprises (SME) to adopt Digitalisation in improving their business operations.
The Government will provide a 50% matching grant of up to RM5,000 per company, for 100,000 companies.
2) Am I eligible?
SMEs that fulfil the following criteria below are eligible and encouraged to apply:
a) At least 60% owned by Malaysian;
b) Registered under the relevant laws of Malaysia and classified as SME;
c) Must be >1 year in operation; For SMEs which have been in operation for less than two (2) year, the SME is required to have an annual minimum sales turnover of RM100,000.00 for the first year; and For SMEs which have been in operation for two (2) years or more, the SME is required to have a minimum sales turnover of RM50,000.00 for the preceding two (2) consecutive years.
3) Can sole proprietorship or partnership apply for the grant?
Yes, if you fulfill the criteria at (2).
4) If I am a Gov sector corporate, NGO, NPO, can I apply the grant?
Yes, if you fulfill the criteria at (2).
5) Now, what can I purchase with this grant?
You may purchase a 12 month equivalent of subscriptions from online/cloud systems from the selected Solution Providers in this list: https://www.mybsn.com.my/content.xhtml?contentId=1561
They belongs to 5 categories
a. Electronic Point of Sale System (e-POS)
b. Human Resource Payroll System/Customer Relationship c) Management (CRM)
c. Digital Marketing / Sales
d. Procurement
e. Enterprise Resource Planning (ERP)/Accounting and Taxation.
Likelihood an e-Payroll system could be first choice as everyone needs an e-payroll solution to
(a) avoid company hit into risk of losing payroll data if the payroll resides in a computer;
(b) do payroll faster, more accurate, pay online and generate related documents.
Kakitangan.com is the leading online payroll system in Malaysia that you may consider adopting to improve your operation.
6) Can I use other vendors (which is not in the Services Provider List) to apply for the grant?
No, the approved vendors in the list needs to go through a thorough due diligence process and meet certain criteria, eg have experience dealing with and supporting more than 100 customers. The grant is eligible for the selected vendors only.
The details is in https://www.mybsn.com.my/content.xhtml?contentId=1561
7) How do I maximize value of Kakitangan.com to apply for this grant?
Please contact assist@kakitangan.com or 012 – 4666 321. We will help you to figure out accordingly.
8) Kakitangan.com seems to be cheap and I still have budget to buy more software. Can I buy from another vendor and apply together in this grant?
Yes. Each SME allows to combine up to 3 digital services from the digitalisation services list (refer to 3) when upon submission. Please note that you can only apply once, submit the invoices together.
9) When is a good time to apply?
NOW. Considering there are ~1M SMEs in the country and only 100K can get the grant, you should act fast. Besides, the later stage it could be slower when more and more people gets into the application queue at the bank branches.
10) Can you fake the invoice so I can get max from the grant and paying less/or none?
No, all selected vendors have been warned by the Government to not do that. It is prohibitive and will cause trouble to the company and vendors during Government’s audit.
11) Can I renew a system I purchased before, using this grant?
The intention of the Government is helping you to get a new cloud system to improve operation. So they have warned all the vendors to not to bundle renewal into the grant. It is only applicable for purchasing a new system / module, but NOT a new version of the old system used. So it may risk rejection from BSN/SME Bank. (otherwise it’s a free angpao money for all accounting software vendors only and no improvement in SMEs via new systems – and defeat the purpose of this grant design)
12) OK, How do I apply and what is the process?
- Download the application from here
- Choose vendors such as Kakitangan.com, and make up your mind on how much your company will pay (eg the 50%) and get the 1-1 matching grant
- Prepare necessary documents
- Apply via the nearest branch of BSN or SME Bank or visit here for online submission
The details is in https://www.mybsn.com.my/content.xhtml?contentId=1561
For application to purchase Kakitangan.com, here's the info to fill into the form
Digitalization Area: HR Payroll System
Vendor's Name: COASTAL HECTARE SDN BHD
Vendor's Account Number: 1010741100008044
Amount: Follow the invoice we sent you
The Payment process - SME have 2 options:
A) 100% payment
- SME pay 100% to Kakitangan.com, and Kakitangan.com unlocks 12 months subscription.
- SME apply at any of (BSN / SME Bank)
- SME wait for approval from (BSN / SME Bank)
For Approved SME application, (BSN / SME Bank) release 50% to Kakitangan.com, and Kakitangan.com will reimburse the money to SME.
For Rejected SME application, there’s no further process.
B) 50% payment
- SME pay 50% to to Kakitangan.com, and Kakitangan.com unlocks 6 months subscription.
- SME apply at any of (BSN / SME Bank)
- SME wait for approval from (BSN / SME Bank)
For Approved SME application, (BSN / SME Bank) release 50% to Kakitangan.com, and Kakitangan.com will unlock another 6 months license for SME.
For Rejected SME application, SME needs to pay for another 6 months of subscription license.
Wish to know more about the SME Digitalization Grant,
please call our sales hotline: 012 - 4666 321 or drop us an email at *assist@kakitangan.com
wish to have a demo account, please click on this link