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Budget 2020: SME to get matching grant up to RM5,000 to digitalise their operations

To develop a digital nation, the government has allocated RM500 million under Budget 2020 to digitalise the operations of Malaysian small and medium-sized enterprises. This will be given as a 50% matching grant up to RM5,000.

The objective of the grant is to encourage small businesses to adopt an electronic point of sales (e-POS) system, enterprise resource planning (ERP) solutions and electronic payroll. The RM500 million matching grant will be allocated for a period of 5 years and it is limited to the first 100,000 small and medium-sized enterprises that apply to upgrade their systems.

To increase the production of our local industries, the government has also allocated RM550 million matching grants for smart automation. This will be given to 1,000 manufacturing and 1,000 service-based companies to automate their business operations. The grant will be allocated as matching grants up to RM2 million per company.

Alexander Wong