Entrepreneurship programmes are inclusive

2 November 2023

By Wartawan Nabalu News

KUALA LUMPUR: The implementation of entrepreneurship development programmes by the Ministry of Entrepreneur Development and Cooperative (MEDAC) is carried out comprehensively and inclusively, covering all categories of MSME entrepreneurs without neglecting specific groups that require special attention.

Its Minister Datuk Ewon Benedick said this during his closing speech during the 2024 budget debate in Parliament yesterday, where he responded to concerns about the inclusiveness of the MSME.

“It includes various programmes, initiatives, and financing schemes for youth entrepreneurs, women entrepreneurs, persons with disabilities (OKU), and Bumiputera entrepreneurs.”

The issue of entrepreneurship assistance, which aims to help alleviate extreme poverty in the states of Sarawak, Sabah, and Kelantan, was raised.

Amanah Ikhtiar Malaysia (AIM) provided financing of RM195.2 million in Sabah, RM164 million in Sarawak, and RM314.2 million in Kelantan in 2023, benefiting a total of 87,516 entrepreneurs. TEKUN Nasional provided micro-financing of RM121 million to 5,468 entrepreneurs in Sabah, RM59.9 million to 3,671 entrepreneurs in Sarawak, and RM55.1 million to 3,511 entrepreneurs in Kelantan in 2023.

SME Corp also implemented various entrepreneurship development programs, benefiting 1,141 MSME entrepreneurs in Sabah, 494 MSME entrepreneurs in Sarawak, and 384 entrepreneurs in Kelantan from 2021 to September 2023.

Concerns about supporting small traders and informal entrepreneurs have also been raised where Ewon responded that MEDAC has taken initiatives to provide business development programmes and venues for these groups.

For instance, Amanah Ikhtiar Malaysia provided financing for 323,542 entrepreneurs, including small traders and small-scale entrepreneurs, in 2023, with a total allocation of RM1.74 billion. Bank Rakyat's Micro Financing Scheme for Small Traders and Small-Scale Entrepreneurs (MPPK) disbursed RM3.08 million to 379 entrepreneurs. KUSKOP also developed entrepreneurship programs for small traders and small-scale entrepreneurs and upgraded hotspots sites to assist mobile small traders and small-scale entrepreneurs, he elaborated.

Under the 2024 Budget, KUSKOP's application for RM20 million to develop entrepreneurship infrastructure for small traders and small-scale entrepreneurs, particularly in Sabah and Sarawak, has been approved. KUSKOP has also developed the Informal Entrepreneur Formalisation Plan to facilitate the transition of informal entrepreneurs to registered businesses, providing them with access to more opportunities and resources.

There are comprehensive and inclusive implementation of entrepreneurship development programmes by MEDAC, he said adding that they cover all categories of MSME entrepreneurs, including specific groups that require special attention such as youth entrepreneurs, women entrepreneurs, persons with disabilities, and Bumiputera entrepreneurs.