INSKEN to implement programmes for entrepreneurial development

15 November 2023

By AVV

KUALA LUMPUR: National Institute of Entrepreneurship (INSKEN) has plans to implement various training, guidance, and business consultation programmes for the year 2024.

Datuk Ewon Benedick Minister of Entrepreneur Development and Cooperatives (MEDC) in his closing speech in Parliament said these programmes include Basic Entrepreneurship Courses, Advanced Cash Management Courses, and financial management for entrepreneurs nationwide.

With the allocated resources, these programmes will be implemented nationwide through public participation and collaboration with federal and state government agencies. It must be noted that INSKEN has opened offices in Kota Kinabalu on May 29, 2023, and Kuching on September 30, 2023, to expand its reach to entrepreneurs in those regions.

According to him, INSKEN is ready to implement various entrepreneurship programmes throughout the country, including in Sabah and Sarawak. This can be seen from the launch of INSKEN offices in Kota Kinabalu and Kuching. In 2023, 138 participants from Kalabakan joined various entrepreneurship programmes organised by INSKEN. For the year 2024, INSKEN has planned to implement 233 programs that are expected to benefit approximately 8,000 entrepreneurs nationwide.

Financing options can be acquired from TEKUN, with an easy application process and with 171 TEKUN branches nationwide, TEKUN National has become the choice for micro-entrepreneurs to obtain financing assistance, he said adding that the financing target for 2024 is RM600 million, and the funds will be sourced from repayment collections.

“To prevent entrepreneurs from resorting to loan sharks, TEKUN has simplified the application process by reducing the required documentation to only 4 essential documents. They are copy of Identification Card, Premises Photo, Bank Statement Copy, and Copy of Business Registration Certificate (for micro-entrepreneurs).”

“The processing period is 7 working days, and disbursement of financing is done within 3 working days, compared to the previous 21 working days. Although TEKUN is now under MEDC, Young Agropreneurs can still apply for financing assistance for project implementation based on the existing financing terms and procedures.”

“Until March 2023, financing has been disbursed to 255 Young Agropreneurs with a total financing value of RM8.9 million. In 2023, TEKUN disbursed RM23.47 million (1,989 entrepreneurs) in the agriculture sector.”