Be The 1 With ProSales To Get New Digital Grant
- Be The 1 With ProSales To Get New Digital Grant
- New BSN Geran Digital PMKS MADANI (GDPM)
- MSME Digital Grant Allocation
- New Digital Grant Application Portal
- Document Requirements for GDPM Grant Application
- Latest Budget 2024 Support for Digital Transformation
In response to the ever-evolving digital landscape, we are thrilled to introduce the BSN Geran Digital PMKS MADANI (GDPM). This initiative is poised to be a game-changer, igniting a digital revolution among Micro, Small, and Medium Enterprises (MSMEs). Developed through a powerful partnership between the Malaysian Digital Economy Corporation (MDEC), Bank Simpanan National (BSN Bank), and the Malaysian Communications and Multimedia Commission (MCMC), GDPM offers a remarkable opportunity. Eligible entities can avail themselves of a substantial 50% matching grant, with a maximum grant value of up to RM5,000.
New BSN Geran Digital PMKS MADANI (GDPM)
In today’s digital era, the opportunity to transform your business into a digital powerhouse has never been more accessible. Aligning with the Madani Budget 2023, the Malaysian Ministry of Finance (MOF)is extending a helping hand to Micro, Small & Medium Enterprises (MSMEs /PMKS), empowering them to embrace the future by digitizing their operations.
Opportunity to Digitize Your Business
To apply for the GDPN Digitalisation Grant, PMKS must meet the following criteria:
- Your PMKS or Cooperative is registered under the relevant laws of Malaysia.
- Your PMKS is at least 60% owned by a Malaysian citizen.
- Your PMKS or Cooperative has been operating for at least six months.
- The PMKS/Cooperative has a minimum average annual sales turnover of RM50,000.00.
How to Apply:
The application process is straightforward:
- Contact and appoint service providers listed by MDEC to perform up to three digitalization services.
- Complete and submit the application form along with the required supporting documents to the service provider.
- The service provider will submit your application to the Bank.
- If approved, you will be responsible for paying 50% of the total invoice, while the Bank will contribute 50% or up to RM5,000.00 to the service provider.
Frequently Asked Questions (FAQ):
For more details, consult our comprehensive FAQ document: MSME Digital Grant FAQ.
MSME Digital Grant Allocation
The Malaysian Ministry of Finance, acting through BSN as the disbursing bank, allocates funds to each eligible PMKS/Cooperative in an amount equivalent to 50% of the total invoice from the appointed service provider, or up to RM5,000.00 (Malaysian Ringgit: Five Thousand Ringgit Only), to facilitate the implementation of the digitization process and other services specified in this Initiative.
If the invoice from the appointed service provider amounts to RM10,000.00 (maximum amount), the grant amount that is eligible for each PMKS/Cooperatives under this Initiative is RM5,000.00. If the total invoice from the appointed service provider is less than RM10,000.00, the PMKS/Cooperatives will be eligible to receive a grant equal to 50% of the invoice amount. In the event the invoice amount exceeds RM10,000.00, PMKS/Cooperatives shall be responsible for paying the difference after considering the maximum grant amount of RM5,000.00 only.
New Digital Grant Application Portal
To apply for the grant, visit the application portal: MSME Digital Grant Application Form.
PMKS are allowed to apply for up to three (3) types of Digital Services with one or more appointed Digital Service providers.
a) Digital Marketing / Sales
Digital marketing services that promote products or services on the internet, through applications, advertising displays, and any other digital media.
b) Digital Payment / Electronic Point of Sale (e-POS) System The use of software, such as Point-Of-Sale, to streamline company operations.
c) Human Resources (HR) Payroll System / Customer Relationship Management (CRM)
A system designed to facilitate and manage a company’s payroll processes and any matters related to human resources.
Database services that support processes and operations, including marketing, finance, and human resources.
e) Digital Signature
A digital signature is an electronic signature used to authenticate the identity of the sender/signer of a message and is employed to ensure the accuracy and validity of information in electronic transactions.
f) Internet of Things (IoT) / Smart Systems
An ecosystem platform consisting of multifunctional applications for business excellence.
Cybersecurity in addressing cyber threats encompasses cybercrime, information breaches, hacktivism, technology vulnerabilities, and dangerous internet content.
a) Food and Beverage (F&B) Services
d) Professional Services
e) Smart Agriculture
Document Requirements for GDPM Grant Application
a) Personal Identification: A copy of the Owner / Director / Partner’s identification card or passport, or the representative appointed by the Cooperative, as applicable.
b) Business Registration: A copy of the PMKS registration license (SSM or equivalent under the Companies Act 2016), or, for Cooperatives, a copy of the registration certificate from the Malaysian Cooperative Commission.
c) Financial Statements: Provide either the latest audited financial statements or the latest financial management account statement, or PMKS bank statements for the last two (2) months (all documents must be certified by the statement provider).
d) Service Provider Documents: Quotations or payment invoices from appointed service providers.
e) Additional Requirements: Include any other documents and information that may be required by the Bank from time to time.
Mechanism of the Initiative
a) PMKS should communicate and appoint service provider panels to carry out any Digital Service (up to a maximum of 3 Digital Services).
b) PMKS must submit their applications through the provided online platform MSME Digital Grant Madani Application
c) If any provided information is found to be inaccurate and/or false, BSN reserves the right to request additional documents from PMKS and/or reject PMKS’s application.
d) Within fourteen (14) days after the approval of PMKS’s application, PMKS must pay the difference amount to the service provider for the entire invoice amount after deducting the grant amount provided under this Initiative for each Digital Service.
e) Upon receiving proof of payment, BSN will make full or staggered payments to the service provider at BSN’s discretion.
f) The allocation of RM5,000.00 (Malaysian Ringgit: Five Thousand Ringgit) is subject to any directives issued by the Ministry of Finance Malaysia from time to time.
g) PMKS must ensure that training modules and other digitization activities specified by the service provider are implemented perfectly.
h) PMKS must submit Proof of Activation if requested by BSN at any time.
i) PMKS must ensure that the implementation process of Digital Services funded by this Initiative is carried out in full.
j) While participating in this Initiative, PMKS must prioritize the importance of maintaining the reputation of PMKS, BSN, MDEC, MCMC, and the Ministry of Finance. PMKS is strictly prohibited from engaging in illegal business activities that could tarnish the image of PMKS, BSN, MDEC, MCMC, and the Ministry of Finance.
k) If PMKS fails to comply with any conditions, BSN and MDEC will take appropriate action, and the company’s name will be blacklisted from participating in any digitization initiatives organized by BSN or any other government agency.
Latest Budget 2024 Support for Digital Transformation
In addition to the ongoing GDPM, the 2024 budget emphasizes support for digital transformation. An allocation of RM100 million in grants for 20,000 MSMEs along with RM900 million in loans demonstrates the government’s commitment to fostering a culture of innovation and digitalization. These initiatives will enhance our nation’s competitiveness and drive us towards becoming a high-income nation.
Embrace the opportunity to elevate your business in the digital age. The GDPM and additional budgetary support for digital transformation are pivotal in helping MSMEs flourish. Get in on the digital revolution and transform your business for a brighter and more competitive future with ProSales. Drop us a message here or leave a comment below to know more about our technology solution and consultation from us.