A total of 1,065 women entrepreneurs have benefited from financial assistance totalling RM22.6 million from SME Corp. Malaysia in 2023. This figure constitutes nearly 40 per cent of the total 2,708 Micro, Small, and Medium Enterprises (MSMEs) that received benefits from MSME Corp.’s MSME development programs implemented in 2023 – with a total aid value of RM92.6 million.
Among the programmes that have benefited women entrepreneurs significantly is the Business Development Program for Micro Entrepreneurs (BizME), with over 548 participants or 48 per cent of the total of 1,142 participants receiving assistance worth RM1.7 million.
SME Corp. Malaysia has also assisted women entrepreneurs through the Bumiputera Youth Entrepreneur Tunas Program (TUBE), aimed at encouraging young people to venture into entrepreneurship. Out of the 555 participants approved for business grants totalling RM10 million, half of them are young women, with 280 participants approved for business grants totalling RM4.3 million.
Moreover, SME Corp. Malaysia an agency under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP), also has implemented the MSME Export Strengthening Program, aiming to enhance the pre-export capabilities of MSMEs and increase the number of MSMEs with the potential to penetrate global markets. A total of 121 women-owned MSMEs received approval for grants totalling RM3.3 million.
Other programs that have recorded encouraging participation from women entrepreneurs include the Capacity and Capability Enhancement Program for SMEs (BAP), Bumiputera Enterprise Enhancement Program (BEEP), and Micro Business Grant (GPM). These programs have successfully benefited over 100 women entrepreneurs with grant approvals exceeding RM12 million for the development of their business capacities.
Rizal bin Nainy, CEO of SME Corp. Malaysia, stated, “SME Corp. Malaysia remains committed to assisting women entrepreneurs by targeting at least 30 per cent of beneficiaries for initiatives and programmes specifically designed for women entrepreneurs. For 2024, a total of RM134.6 million has been allocated to implement various initiatives and programmes. We aim to benefit more than 16,700 MSMEs this year, including women entrepreneurs, in line with the aspirations of the more equitable, inclusive, and sustainable MADANI Economic Framework.”
“Also this year, SME Corp. Malaysia will once again organize the Enterprise 50 (E50) Awards, a prestigious recognition program that acknowledges the achievements of the top 50 MSMEs in Malaysia. To recognize the achievements and contributions of women entrepreneurs, one of the Special Awards created under this program is the Best Women Entrepreneur E50 Award,” he added.
To facilitate MSMEs in applying for the offered assistance, they can do so through online applications via the Integrated MSME Rating & Incentive System (MyBPI). Further information about the programs and initiatives provided can be accessed on the SME Corp. Malaysia website.
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