About SMART Centre

S.M.A.R.T. Centre stands for Small and Medium Enterprises Market Advisory Resource and Training Centre.

  1. To provide information on financial assistance schemes and market intelligence to local SMEs.

  2. To create new business opportunities and capacity building initiatives to encourage the development of local SMEs.

  3. To carry out industry research and local supply chain mapping to identify gaps and crucial growth areas in Penang, with the view to support the consistent growth of industries in Penang.
  1. The centre will provide advisory services to SMEs in regards to government financial aids, PDC land application, business license application and other relevant information.

  2. The centre will develop its own online directory to promote the local SMEs and encourage MNCs to source their materials and services locally.

  3. The centre will organize seminars, business matching sessions, networking sessions and talks in order to expose local SMEs to the global supply chain.

The definition of SMEs is based on two criteria:

  • The total sales turnover/revenue by a business in a year; OR
  • The number of full-time employees by a business.

Generally, SMEs in Malaysia are defined as follows:

  • Manufacturing sector: Sales turnover not exceeding RM50 million OR full-time employees not exceeding 200.
  • Services and other sectors: Sales turnover not exceeding RM20 million OR full-time employees not exceeding 75.

(Source: SME Corp Malaysia)

You can apply the financial assistance from various government ministries and agencies, such as MIDA, SME Corp, MATRADE, Biotech Corp, Yayasan Tekun Nasional, Ministry of Agriculture, Ministry of Science, Technology and Environment, Ministry of Rural Development and Malaysian Industrial Development Finance Bhd etc. For more details, please refer to the financial assistance matrix 1.

Soft loans, guarantee scheme, tax incentives and venture capital/equity financing.

Different types of financial assistance and different government agencies have different criteria and requirements. It is depending on which type of financial assistance that you are applying to. Therefore, you need to identify and apply for the best financial option that suit for your business most.

If you are using a trade name, you need to propose the preferred trade name to the Companies Commission of Malaysia (CCM) for their approval. You can only register the trade name as your business name after obtained the approval from the authority. If you are using your own name (name as per your identity card) as the business name, you can register the business name with the Registrar of Business of CCM directly. For more information, please refer to the official website of Companies Commission of Malaysia (CCM).

Business license is handled by the local councils. For business which is operated in Penang Island, you need to apply the business license from Majlis Perbandaran Pulau Pinang (MPPP). For business which is operated in mainland, you need to apply the business license from Majlis Perbandaran Seberang Perai (MPSP). For more information, please refer to the official website of the respective local councils.

ISO 9001 (Quality Management) and ISO 14001 (Environmental Management) are the most popular ISO standards that adopted by the organizations.

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