An Overseas Business Grant that all Entrepreneurs Should Know!

For those who travel once a while regionally for business, there are incentives from MATRADE (Malaysia External Trade Development Corporation) to ease your travel costs, aligned with their mission for getting more Malaysian business to expand their services and products abroad. This is a Grant that every entrepreneur should be aware of and apply for in order to expand your business overseas. Again, this is not a holiday!From details which we have gathered from sources from the entrepreneurship circle and movements, here are the basic requirements for you to apply for the grant. The following information was compiled by our partner community – TeAM (Technopreneurs Association of Malaysia) for your benefit, so we thank them! Some FAQ especially for Technopreneurs, ICT Professionals and entrepreneurs who specialize with technological products:

Specialised Marketing Missions (SMM) Overseas – MATRADE will reimburse the said amount, regardless of amount you spend. Say you join TeAM’s
SMM into Jakarta in Sept 2012, whether you spend RM2k or RM10k, MATRADE will give you RM4,000.

Presentation to Potential Clients – As long as you have invitation from overseas, say an email request you to go there and present, it qualifies. Once you are back and submit the claim, MATRADE will ask you (the same person gone overseas) to present the same thing at MATRADE’s office. They want to see how interested are you in doing business there, how effective is your presentation. Then they will determine whether to honour you the money.

Initial set up cost of office – It covers the office rental, does not cover utility or salary. Cap of RM100,000 – It is up to individual SME which category they want to claim on. E.g. you can file trademark in 5 foreign countries, claim RM20, 000 each, which max out your quota.

For more info or further clarification, please refer to MATRADE. Do note that this detail might change when they official launch this sometime in the future.

DISCLAIMER: We are not held responsible for the accuracy of the information, but for us entrepreneurs who have been following our site, it is worth noting and picking up the phone to ask.

Check out the web link below of the new guideline effective 1st July 2012.