Malaysia SME Grants, Schemes and Agencies: A Glossary

Part of the Five Stones knowledge base - 20 terms on Malaysia SME grants, schemes and agencies, in plain English.

Part of the Five Stones knowledge base - 20 terms on malaysia grants, schemes and agencies, in plain English.

MSME Digital Grant MADANI - A Malaysian government matching grant supporting micro, small and medium enterprises adopting digitalisation solutions.
HRD Corp (Human Resources Development Corporation) - The Malaysian body managing the compulsory training levy paid by registered employers, which can fund staff training including AI and digital skills.
HRD Corp levy - The compulsory monthly contribution certain Malaysian employers pay to HRD Corp, which can later be claimed back to fund approved staff training.
SME Corp Malaysia - The Malaysian government agency responsible for coordinating SME development policy and programmes nationally.
MDEC (Malaysia Digital Economy Corporation) - The Malaysian agency driving digital economy growth, including certifying vendors for some SME digitalisation grants.
SST (Sales and Service Tax) - Malaysia's consumption tax on goods and services, one of the recurring compliance costs SMEs must manage and budget for.
e-Invoicing (Malaysia) - Malaysia's phased national requirement for businesses to issue invoices in a standardised digital format validated by the tax authority, LHDN.
LHDN (Lembaga Hasil Dalam Negeri) - Malaysia's Inland Revenue Board, the tax authority overseeing income tax, SST and the national e-Invoicing rollout.
BSN (Bank Simpanan Nasional) - A Malaysian development bank that acts as a distribution channel for several government SME funding schemes, including parts of the MSME Digital Grant MADANI.
SME Bank Malaysia - A Malaysian development financial institution providing financing specifically aimed at small and medium enterprises.
Budget (Malaysia national budget) - Malaysia's annual government budget announcement, which typically renews, expands or introduces SME funding and digitalisation schemes.
Domestic Direct Investment (DDI) - Investment made by Malaysian entities within Malaysia itself, tracked alongside Foreign Direct Investment (FDI) as a measure of domestic economic confidence.
MITI (Ministry of Investment, Trade and Industry) - The Malaysian ministry overseeing trade, investment and industrial policy, including many SME competitiveness initiatives.
MATRADE - Malaysia's trade promotion agency, supporting SMEs seeking to export and enter overseas markets.
Bank Negara Malaysia (BNM) SME financing schemes - Financing facilities coordinated through Malaysia's central bank to improve SME access to affordable credit.
SME Association of Malaysia - An industry body representing Malaysian SMEs and regularly submitting policy proposals, including on cumulative regulatory and cost burden, to the government.
Licensing cost (Malaysia) - The cumulative cost of the various business licences an SME must hold and renew to operate legally, one of the specific cost categories named in recent SME policy proposals.
Integrated SME development gateway - A proposed single entry point combining a business profile, a diagnostic and a tailored support pathway, intended to replace fragmented, one-size-fits-all grant applications.
Cumulative cost and regulatory impact assessment - A proposed single review of a business's combined cost burden across labour, utilities, financing, tax and compliance, rather than each cost being assessed and reformed separately.
MICCI / FMM / national chambers - The various national chambers of commerce and manufacturers' federations in Malaysia that also represent SME interests in policy discussions.

Looking for a different topic? Browse the full knowledge base, or tell us what's missing.