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Posts Tagged ‘SMIDEC matching grant’

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Alright, basically this grant is called “Financial Assistance Scheme for SMEs in Service Sectors”. It is for Services Sector ONLY. There are 4 main type of grants you can apply which are:

  1. Business Start-Up
  2. Certification and Quality Management System
  3. Product and Process Improvement
  4. Advertising and Promotion

This article focuses on the advertisement and promotion grant in which companies which need to expand their marketing programme to increase their sales.

Again, this is a matching grant where it is 50% – 50%, you pay 50% and the government pay another 50% of the total amount on the allowable expenses ONLY.

The maximum allocation for this grant is RM50,000.

Eligible companies:

  • Companies registered under Companies Act 1975
  • Possess valid business license
  • 60% equity held by Malaysians

Eligible expenses are:

  • Production of marketing materials (CD-ROM, brochures, flyers, banners, etc)
  • Electronic media advertisement (internet, etc)
  • Printed media advertisement (newspaper, magazines, etc)
  • Development of website

Documents required for this form:

  1. COMPLETE the Form and Project Proposal (Click to download Form and click for Project Proposal)
  2. Memorandum of Association & Articles of Association
  3. Form 9, 24,49 (get it from your Company Secretary)
  4. Audited Company Accounts (get it from your auditor)
  5. Business License (your related license in your business sector, example: audit firm, bring license by MIA)
  6. 3 months EPF statement (the form you submit to KWSP every month)
  7. Company organizational structure
  8. 3 months bank statement
  9. Project leader biodata (refer to the project proposal for the details needed)
  10. Quotation for advertisement and promotion expenses you require (better get at least 3 quotation if possible)
  11. Samples for your advertising and promotion material

For non-Sdn Bhd companies;

  1. Company Certificate (Your company registration)
  2. Business License
  3. Company organization structure
  4. 3 months bank statement
  5. Items 9-11 as above

If you are a growing SME in the services sector and you need help on promotion your product and have all the related materials above, give it a try! Good luck!

Should you require assistance, contact SMIDEC at SMIDEC Full List of Directory or through their hotline at 1-300-88-1801.

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SMIDEC stands for Small Medium Industries Development Corporation. You can visit the site about Matching Grant here : http://www.smidec.gov.my/detailpage.jsp?page=itaf1

One of the grants available is the “Matching Grant” for startups. The maximum amount as per the website I last surfed and from SMIDEX 2009 was RM100,000.

Please take note that this is a 50%-50% grant which means the you pay 50% while the government pay another 50% on the list of allowable expenses. Therefore before applying for the grant, you have to obtain the necessary working capital in order to achieve the 50%-50%.

Do not fall into the trap of thinking that every expenses apply for this grant, only allowable expenses.

So what are the criteria in applying for the matching grant?

  • Companies incorporated under Companies Act 1965 (just get your company registered at SSM)
  • Fulfill definition of SMEs
  • 60% equity held by Malaysians
  • Possess business license
  • Falls in the category of Manufacturing, Manufacturing-related, services (please check with SMIDEC, some business may not fulfill this category such as insurance)

So what are the allowable expenses?

  • Rental of business premises of up to 24 months
  • Purchase of office equipments and materials
  • Consultancy and registration fee
  • Feasibility studies
  • Preparation of business planning
  • Development of prototype
  • Product sample and testing
  • One year broadband subscription fee

For more information on allowable expenses please check with SMIDEC.

In terms of disbursement, I read from certain forums that it is claim in nature such as payment of your business premises, you pay first and then you get the claim.

Before you submit the application, do contact the SMIDEC staff for assistance and provide the documents accordingly as stated in the form.

You can download the form and contact SMIDEC as below:

  1. Matching Grant – Application Form & Project Proposal
  2. SMIDEC Infoline: 1-300-88-1801

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