KUALA LUMPUR, Oct 14 — The government has channelled RM5.76 billion in financing to 261,651 micro, small, and medium enterprise (MSME) entrepreneurs from January to August this year through the Entrepreneur and Cooperatives Development Ministry (Kuskop) and its agencies.
Its minister Datuk Ewon Benedick said they have also enhanced the capacity and capability of MSMEs through integrated and targeted development programmes, like the Vendor Capacity Development Programme 2.0, which involved 30 vendor companies with a RM3.5 million allocation.
“Additionally, as of September 30, 2024, SME Corporation Malaysia is implementing the Business Accelerator Programme for 197 MSME entrepreneurs with an allocation of RM34.12 million,” he said during the question-and-answer session in the Dewan Rakyat today.
Ewon was responding to a question from Sungai Besar MP Datuk Muslimin Yahaya regarding the current number of MSMEs and informal entrepreneurs post-Covid-19 and the ministry’s efforts to help entrepreneurs boost their business sales.
The minister added that the government also launched the Micro Financing Scheme for Hawkers and Small Traders 2.0 under Bank Rakyat for informal entrepreneurs by offering zero-profit financing specifically for hawkers and small traders.
“Since its launch on September 7, 2024, a total of RM567,500 has been approved for 19 entrepreneurs.
“The MyMall platform was also introduced to provide free online marketing space for MSMEs and local cooperatives. As of September 2024, a total of 2,544 traders have registered, offering 2,082 products with a sales value of RM8.86 million,” he said.
In response to Muslimin’s supplementary question about the government’s plan to formalise nearly one million informal entrepreneurs and provide further assistance in Budget 2025, Ewon said the ministry held engagement sessions in Peninsular Malaysia in August with stakeholders, including hawkers and small traders in Sabah.
He is hopeful that Budget 2025 will place greater emphasis on this sector compared to previous years.
“I chaired the National Small Traders and Hawkers Consultation Meeting to gather their views, suggestions, and input,” Ewon said.
— Bernama
