Funding and incentives for SMEs in Budget 2018

The Star Online

30 October 2017

FUNDING AND INCENTIVES FOR SMES IN BUDGET 2018

Strengthening SMEs

  • Skim Jaminan Pembiayaan Perniagaan for working capital and services sector (RM7bil)
  • Government Guarantee loans under SJPP to enable SMEs to automate production (RM1bil)
  • Syariah-compliant SME Financing Scheme with subsidy rate of 2% (RM1bil)
  • Development of halal industries and products under various agencies (RM82mil)
  • SME loans through Koperasi Jayadiri Malaysia Bhd (Kojadi) (RM50mil)
  • Indian Community Entrepreneur Development Scheme (SPUMI) under Tekun (RM50mil)

Accelerating exports

  • Expand export market and promotion (RM150mil)
  • Insurance coverage credit facility for SME exporters (RM1bil)
  • Loans to enhance automation of local furniture production for export (RM100mil)

Tax incentives

  • Extend the incentive period for Accelerated Capital Allowance on automation equipment 2018-2020

Accelerated Capital

  • Allowance Incentive up to 200% for manufacturing and manufacturing-related-services sectors
  • Capital Allowance Incentive for ICT equipment beginning 2018-2020

Web source: https://www.thestar.com.my/business/smebiz/2017/10/30/funding-and-incentives-for-smes-in-budget-2018/