The SME Development Scheme will soon be introduced for the benefit of small and medium enterprises, including small planters and breeders, in line with Government objective to make SMEs the backbone of the economy.
Under the Scheme, eligible SMEs would be granted a SME Development Certificate. Holders of such Certificate would be eligible to incentives and facilities, such as Income Tax holiday for the first 8 years and other tax concessions.
The Scheme also provides for a Special Grant for training, consultancy, financial management, feasibility study and technical assistance. The grant will be 10% of the project value up to a maximum of Rs 150,000 and business support solutions from MyBiz and fast-track mechanism for obtaining permits and licences.
On the other hand, MauBank Ltd proposes to introduce a special financing scheme for enterprises, the MauBank SME Financing Scheme, and would provide a grant of up to Rs 10,000 for the conduct of a feasibility study of a project proposal by an SME in the ICT, manufacturing, aqua-culture, renewable energy and handicraft sectors.