The SME Digitalization Grant Via Boost Helps SMEs Get More Customers
[This is a sponsored article with Boost.]
If you are a small business owner or just someone looking to start a business, you would have seen the difference an online presence makes, especially now.
In view of the challenges businesses are facing this year, the government has launched a few initiatives targeting SMEs. The government is also working with Boost as one of the service providers (via Celcom) through the SME Digitalization Grant to help businesses go digital and grow.
This grant is part of the PENJANA initiative and organizations such as Malaysia Digital Economy Corporation (MDEC), Bank Simpanan Nasional (BSN), SME Bank and Ministry of Finance (MOF) are also part of the SME Digitization Grant.
What is the SME digitization grant and how it works
With the SME Digitization Grant, a business will be exposed to Boost’s 9 million customer base, and the grant will also help the company craft the right advertising campaigns to grow their business.
For example, Boost has a digital micro SME starter pack that only asks the SME for an upfront payment of RM1,000, and the government will match the payment of RM1,000.
Depending on the package you choose, the government will match 50% of this amount up to a maximum of RM 5,000.
Since this is a matching grant, you need to put money up front. This gives you access to a scanning experience worth up to 200,000 RM.
This essentially means that business owners can take advantage of Boost’s business solutions. You will also be enrolled in digital marketing solutions integrated into the Boost app.
To further help businesses grow, Mohd Khairil Abdullah, CEO of Boost, said, “We are focused on building a robust and reliable e-wallet ecosystem for SMEs and enabling them to transform. digitally with the necessary tools. , resources and expertise. “
Here is a brief description of what the 1000 RM you spend on the MicroSME pack earns you in return.
Start on the Boost platform
With the Boost Business app, you will discover a host of features that will help you transition your business online.
Your customers can pay for your products or services using the app, so there’s no need to rely on physical payments, which could end up being lost through fraud or theft.
Boost users can also search for your business through the app, giving you a new pool of people you can reach. As of October 2020, Boost reported having 9 million users and around 135,000 merchants. There was also a 100% increase in the number of active users in August 2020 compared to August 2019.
If you still physically operate your store, Boost can also provide you with a pack of QR codes that you can display on the storefront.
A simpler and safer way to collect payments
It’s not just focused on app listings. By equipping your business with Boost Payment Link (see more details here), you can simplify your customers’ payment requests.
The link can be sent via WhatsApp, email or regular messages. When the customer clicks on it, he automatically launches his Boost application with all the merchant’s information entered, all that remains is to pay.
Boost assured us that the Payment Link feature is secure and that customers will not be able to change the payment amount. In fact, since the MCO started again at KL, Boost has seen a 21x increment in the number of transactions made via Boost Payment Link.
Help local micro SMEs to reach a wider audience
To further increase your reach, Boost will also list your business on its Boost Marketplace.
It is a listing platform where users can search for a business address, contact details, hours of operation, and additional information.
Let’s say you are a chicken rice vendor. An interested customer can then search the market for your business and place an order by calling your business number.
You can then prepare the order and the customer can pay for their food through Boost Payment Link or pay through Boost when they come to your store. If you wish, you can also have the order delivered directly to the customer through your preferred delivery partner.
Help you market your business
The right marketing techniques can help you attract a steady stream of customers, and Boost gives you access to in-app promotions, acknowledgments, or other digital means.
For example, Micro PME package entitles you to marketing solutions like Boost app presentation, social posts, e-mail merge, ads and you will also be listed on Boost Marketplace.
Note: If you go for a higher tier package, you will get longer marketing durations and impressions.
As you now know, customers also love Cash Back Rewards. You will earn a certain amount that you can use in your business, providing users with cash back with minimal expense.
Using the example of chicken rice, if you sell two chicken rice dishes, priced at RM15, then you can offer your customers paying via Boost a RM2 Cash Back, to encourage customers to return to your store.
Protect your business with microinsurance
In the package, you will also benefit from microinsurance for your business to protect your income from disruptions in the event of accident, hospitalization or death. If you are hospitalized or disabled, you will be reimbursed up to RM1,000 for utility bills.
You can also opt for assistance through micro-financing solutions, subject to general conditions.
Are you eligible?
To apply for the SME Digitization Grant, your company will need to meet a few criteria:
- Company 60% owned by Malaysians.
- Registered under the relevant laws of Malaysia.
- Has been in business for at least 1 year:
a. If your business has been operating for 1 year, you must have a minimum turnover of 100,000 RM.
b. For a business that has been in business for more than 2 years, you will need to have a minimum turnover of RM50,000 for the two years.
If you meet these criteria, you just need to follow a few steps to apply:
- Submit your interest here.
- A Boost representative will contact you.
- Celcom will charge you for the payment. Once payment is made on your end, send proof of payment to Boost and Celcom.
- Celcom will then help you claim the grant.
- For more information on the SME Digitization Exchange, click on here.
- See what we’ve written about Boost in the past here.
Featured Image Credit: Boost
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