KUALA LUMPUR: In its effort to help the small and medium enterprise (SMEs) to get back to business during this challenging time, the Malaysia Digital Economy Corporation (MDEC) has unveiled a special scheme called the #SMART Automation Grant (SAG).
The SAG takes a partnership approach between the government and SMEs to drive forward digitalisation for Malaysian businesses. SMEs in the services sector are able to check their eligibility at mdec.my/sag.
According to MDEC, businesses in the services sector that qualify for the grant include, retail, wholesale, food and beverages, tourism, logistics, transportation, education, healthcare, real estate as well as rofessional and financial services.
Upon being qualified by MDEC, the SMEs will be required to present their business case for fast-track approval to an evaluation committee who will provide a decision within 24 hours.
MDEC also said that the SAG is available for 50 percent of the total project cost – or up to a maximum grant cap of RM200,000, whichever is lower.
"The SAG for the services sector is necessary as many SMEs are trying to survive in this disrupted business environment. In fact, most are also looking to do more digitally so they can overcome any potential challenges that may negatively impact their operations and income generation. The introduction of this grant is timely for many as it will give them the support needed to take that digital leap onto the Fourth Industrial Revolution (4IR) era," said MDEC's chief executive officer, Surina Shukri.
In developing and offering this services-focused SAG to SMEs, MDEC said it ensure that these businesses will be able to quickly go digital and even accelerate current efforts to transform their operations.
Beyond enabling these businesses to be more sustainable, the initiative will also help them discover new sources of revenue growth and market expansion.