SDSI benefits entrepreneurs

23 June 2024

JOHOR: Business financing checks totaling RM25.736 million were presented to 389 entrepreneurs during the One District One Industry (SDSI) Showcase for the Southern Region and Advanced Entrepreneurship Festival Johor 2024.

A total of 30 SDSI entrepreneurs from Johor and Melaka, along with 30 Micro, Small, and Medium Enterprises (MSME) entrepreneurs, two cooperatives from MADANI Sales Cooperatives and Entrepreneurs (JMKU), and five Food Truck entrepreneurs from the Ministry of Entrepreneur Development and Cooperatives (MEDC) participated in the event which was officiated by its Minister Datuk Ewon Benedick.

Various information sharing sessions conducted by agencies under MEDC were held to assist entrepreneurs in accessing financing opportunities and engaging in additional activities, such as the MADANI Entrepreneurs and Cooperatives Sales (JMKU) that provided discounts of up to 20% on daily essentials, serving as an attractive feature to draw in visitors.

During the event, Ewon said the event was held line with the strategic core of the National Entrepreneurship Policy (DKN) 2030, which aims to optimise the supervision and access to financial financing systems and strengthen the capabilities and performance of MSMEs.

He said it was an initiative by MEDC to create an inclusive entrepreneurial ecosystem for SDSI companies and local entrepreneurs. SDSI also provides a commercialisation platform through exhibitions and sales of regionally-identified products.

“In addition, entrepreneurs are exposed to training programmes and given access to financing opportunities offered by MEDC and its affiliated agencies. In this regard, MEDC is committed to continuing this showcase programme as a catalyst to enhance the image of SDSI products and services.”

“The showcase provides exposure and education to the public that SDSI products also have high potential to penetrate international markets. It is hoped that these products will not only be champions in this region but also gain high demand internationally.”

According to him, the financial aspect is an integral element in entrepreneurship and MEDC recognises that insufficient cash flow is among the main concerns for traders.

“Therefore, in this Showcase, MEDC also presents the BIAYA program, where public, private, and alternative financing agencies are brought under one roof to assist entrepreneurs in selecting financing products that suit their needs. The goal is to increase access to financing opportunities for entrepreneurs,” he said, expressing his hope that with this financial assistance, local economic growth will be supported, create more job opportunities, and enhance the necessary innovation in the business world.

MEDC, through the PMKS 2030 Strategic Plan, identified that one of the challenges faced by entrepreneurs is the difficulty in penetrating new markets, he said adding that In response to this, MEDC implemented the Business Matching Programme (PADANIAGA) to assist entrepreneurs and cooperatives in expanding their market access.

The objective of this programme is to establish connections between entrepreneurs and cooperatives with large supermarkets, multinational companies (MNCs), and government-linked companies (GLCs) to provide opportunities within the business chain, he said.

According to him, entrepreneurs must continuously learn, adapt to market changes, and stay updated on current trends.

The government emphasises the importance of continuous education and training in entrepreneurship to equip individuals with the latest knowledge in the field. Entrepreneurs can access training information from KUSKOP agencies, which organize training sessions in collaboration with INSKEN and IKMA.

A new direction for the SDSI Programme has been approved to enhance its holistic development, considering the entrepreneurship ecosystem and aligning it with the national development agenda. This initiative aims to support rural communities at both the village and national levels by encouraging the production of economic resources within rural areas to meet industry demands and access larger markets.

“During the SDSI Showcase in Melaka, SDSI entrepreneurs achieved cash sales of RM1.5 million, showcasing the success of the programme and the collaboration between the Federal Government and State Government in elevating rural entrepreneurs to a higher level. This success serves as an inspiration for participating entrepreneurs and highlights the effectiveness of government support in developing rural products.”

According to him, the government offers various incentives and stimulus packages to support entrepreneurs in sustaining and expanding their businesses. In the 2024 Budget presentation, priority is given to supporting entrepreneurs through small loan facilities to enhance their business capacity and competitiveness.

In 2023, MEDC provided financing amounting to RM771.4 million in Johor and RM165.8 million in Melaka, he shared adding that from January to May 2024, 13,091 entrepreneurs in Johor received financing totaling RM272.6 million through MEDC including financing for Sahabat Amanah Ikhtiar Malaysia (AIM), TEKUN, Bank Rakyat, SME Bank, and Pernas for franchise financing.

At the same time, the government is committed to supporting people, especially entrepreneurs, in managing the increasing cost of living, he said.

MEDC in collaboration with the Malaysian Cooperative Commission, organises initiatives like MADANI Cooperative Entrepreneurs Sales (JMKU) and Rahmah Sales by KPDN, providing essential items like rice, eggs, and cooking oil at affordable rates. These programmes aim to ensure that individuals, entrepreneurs, and cooperative members have access to basic necessities at reasonable prices.