KUALA LUMPUR: The government is allocating RM100 million under the Small and Medium Enterprise (SME) Grant Scheme to support business automation and digitalization activities.

Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim said businesses should quickly adopt digital technology to widen the market for their products and services.

“Matching grants of up to RM5,000 will be given to SMEs and small traders that subscribe to business digitalization applications such as POS sales, accounting and inventory management system,” he said when tabling Budget 2023 themed “Developing Malaysia Madani” in the Dewan Rakyat today.

Anwar said funds totaling RM1 billion are also provided under Bank Negara Malaysia to assist the micro, small and medium enterprises to automate and digitalize their operations.