Commitment results in successful entrepreneurs

3 December 2023

By Wartawan Nabalu News

KOTA KINABALU: A total of 484 successful entrepreneurs completed the INSKEN mentoring programmes with full commitment throughout the duration of the programmes.

Minister of Entrepreneur Development and Cooperative Datuk Ewon Benedick said the experience and expertise they gained throughout their involvement in the industry can be utilised and channeled through coaching techniques to participants of the INSKEN mentoring programmes.

Speaking during the INSKEN Mentoring Programme Graduation Ceremony 2023, he said the achievements of the participants celebrated are remarkable, such as a 188% increase in diagnostic scores from the Start-Up Coaching Programme, an RM8.6 million increase in sales from the INSKEN Bumiputera Business Coaching (IBBC) Programme, and the Profit Margin Guidance Programme.

"55% of participants from the IBBC Programme and Profit Margin Guidance Programme have recorded sales increases exceeding 20%, and 156 new jobs have been created through the IBBC Programme,"he said.

According to him, the multiplier effect generated from the IBBC Programme and Profit Margin Guidance Programme is 4.2. This means that for every RM1 spent, an economic return of RM4.20 is created through both programmes.

"Additionally, a total of 13 entrepreneurs have successfully increased their sales revenue, leading to a change in their business status from the micro to small category, with an average post-program sales of RM388,000."

This year the ministry has received numerous direct inputs through engagement sessions held with stakeholders representing associations, business councils, non-governmental organizations (NGOs), cooperatives, and government agencies, he said.

Among the inputs received is the request for more entrepreneurship training to be organised for micro, small, and medium-sized entrepreneurs, including informal entrepreneurs, he said.

He stressed that the role of INSKEN is indeed significant in supporting the sustainability of entrepreneurs.