SME BUSINESS DIGITALISATION

KOLHUB falls under the Technology Service Provider [TSP] category created by Malaysia Digital Economy Corporation [MDEC] to support Small-to-Medium enterprises [SMEs] digitalise. 

In conjunction with Belanjawan 2020, the government through the Ministry of Finance [MOF] is working together with Bank Simpanan Nasional [BSN] to become the key mover in providing matching grants for SMEs. This will help SMEs to improve digitally and move them effectively and rapidly into the technology ‘bubble’. 

The Government will provide a 50% matching grant or a maximum of RM 5,000 from the total invoice amount for each SME that is participating and are eligible. Each SME will be eligible to subscribe to three out of five digital services, and this grant will only be provided to the first 100,000 participants applying to upgrade their systems.

SME GRANT APPLICATION

SMEs interested to apply the grant can fill out the form provided by BSN here.

FREQUENT ASKED QUESTIONS

1. What is SME Digitalisation Grant?
SME Digitalisation Grant is a Budget 2020 initiative to encourage SMEs to adopt digitalisation in their business operations. Through this initiative, the government will provide each company with a 50% matching grant, up to RM5,000 for the subscription of approved digital services. The grant worth RM500 million over 5 years is limited to the first 100,000 SMEs.

The 5 Digitalisation services covered by the SME Digitalisation Initiative are:

✅ Electronic Point of Sales (e-POS) System

✅ Human Resource Payroll System (HR) / Customer Relationship Management (CRM)

✅ Digital Marketing / Sales

✅ Procurement

✅ Enterprise Resource Planning (ERP) / Accounting & Tax.

2. What are Technology Solution Providers [TSP]?
Technology Service Providers (TSPs) are local technology companies identified to support Malaysian SMEs in their digitalization efforts through the SME Digitalisation Grant. SMEs can only engage with approved TSPs to be eligible for the grant

KOLHUB Malaysia is one of the official TSPs approved by MDEC to provide Digital Marketing services.

3. Why choose KOLHUB as your TSP?
As a leading digital influencer marketing services provider in Malaysia, our experienced team with the best technology available will assist you in developing your brand vision while ensuring long-term investment that hugely impacts conversion rates.

During times like these when SMEs are trying to stay afloat, we fully support this national endeavor and will be providing full-on assistance on your grant application – subject to terms and conditions.

4. What are the criteria to be eligible for the SME Digitalisation Grant?

✔️ The company must be 60% owned by Malaysians

✔️The company is registered under relevant laws of Malaysia

✔️ The SME has been in operation for at least one (1) year

✔️ Company in operation within one (1) year is required to have a minimum annual sales turnover of RM 100,000

✔️Company in operation within two (2) years or more is required to have a minimum annual sales turnover of RM 50,000

For more info, you can visit the official website below:
​​https://www.bsn.com.my/BusinessBanking/Products/sme-digitalisation-initiative?lang=en 

HOW TO APPLY FOR YOUR GRANT APPLICATION?

SMEs interested to apply the grant can fill out the form provided by BSN here.

Step 1: SME to contact appoint KOLHUB Malaysia for digitalisation services. SME to select the packages/services offered by KOLHUB Malaysia.

Step 2: KOLHUB generates an invoice based on the value of packages/services chosen by SME.

Step 3: SME to complete and submit an original application form with required documentation to KOLHUB Malaysia.

Step 4: KOLHUB Malaysia will submit the application form together with supporting documents to the bank and follow up with the client.

Step 5: Once the SME’s application is approved, the SME is responsible to pay the difference of the total invoice to KOLHUB Malaysia after deducting the subsidized amount granted from the initiative.

Step 6: The Bank will pay the 50% subsidized amount or up to RM5,000.00 directly to KOLHUB Malaysia.

REQUIRED DOCUMENTS :

  1. Complete Application Form & Declaration Form
  2. Copy of Identity Card or Passport of Director (s) / Partner (s) / Proprietor(s), whichever is applicable.
  3. Company’s bank statement for the last two (2) months/ latest audited financial statement/ latest financial management account statement
  4. Invoice from Digitization Service Provider that is registered by MDEC needs to be signed by TSP.
  5. Copy of company license registration (SSM or other forms under Akta Syarikat 2016). For Corporation, a copy of registration certificate under by SKM.

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