Yes, you heard it right. From 7 December to 21 December, the Ministry of Finance has opened up the Special Prihatin Grant (GKP) for appeals.
So, what does this mean for SMEs? Can every SME appeal for this?
To answer the questions above, you will need to read this article until the end to get all the answers that you will want to know.
The GKP 2.0 appeal will be available and if your previous application was rejected, this is the perfect opportunity to try again.
Let’s dive right in!
What Is Special Grant SME?
Firstly, the main purpose of this grant is to provide assistance to qualified SMEs and also micro SMEs in their quest to recover from the impact of COVID-19 on their businesses.
It is a one-off financial assistance amounting to RM3,000. With the fund, SMEs can aim to improve production productivity and services.
During times like these, the government understands the struggles and challenges that SMEs currently are up against.
With a lack of financial backing, these businesses are at a high risk of shutting down.
Some have survived, some are barely surviving and some have unfortunately been forced to shut down their business.
In this regard, GKP and GKP 2.0 are the Government’s ongoing commitment to assisting the affected micro SMEs.
Until now, almost 850,000 micro SMEs have received GKP and GKP 2.0, with total financial assistance of RM2.55 billion.
To ensure that micro SMEs are truly eligible to receive GKP 2.0, each application is cross-checked with data set by the government.
This data was also set by the Companies Commission of Malaysia (SSM), Local Authorities (PBT), and Inland Revenue Board of Malaysia (LHDNM).
Requirements To Appeal For The Special Grant
Now, you have a feeling that your SME should definitely get this grant because it would be a massive boost for your business to recover financially.
You must be wondering whether you are qualified to get this financial aid. To address your concern, there is a requirement list for you to find out.
In order to appeal GKP 2.0, you have to ensure that you meet all the eligibility requirements:
- Still active in running the business
- Total annual sales or turnover is less than RM300,000
- The number of full-time employees does not exceed 4 people, excluding owners
- Registered PBT or SSM before or on 31 August 2020
Meet all the requirements above? Great! Your business is qualified to apply.
Appeal Applications For The Special Grant
Appeal applications can be made online at the GKP Portal. Please note that any manual appeal will not be entertained.
All you have to do is put in your IC number once you are on the platform.
The following is a full list of documents required during the appeal process.
- Business financial statements for 2019 or The applicant’s latest business / personal bank statement
- Latest business registration certificate
- SOCSO Employee Registration Form / SOCSO Form 8A / EPF Form A or relevant verification documents.
Getting financial aid will be fantastic for your SME to recover in this current situation.
The worst part is we will never know what is going to happen next. It is a scary thought from a business perspective.
Hence, we really encourage SMEs to get all the support that they need especially in terms of financially.
To remind you once again, you can appeal for this special grant starting from 7 December to 21 December.
Hurry up and do not miss this golden opportunity!
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