KOTA KINABALU (Oct 27): The Ministry of Entrepreneur and Cooperatives Development (MECD) through its agency SME Corp Malaysia provides financial assistance in the form of grants of up to RM250,000 specifically for Bumiputera micro enterprises in Sabah and Sarawak.
The Bumiputera Enterprise Enhancement Programme (BEEP) Plus Sabah and Sarawak is part of the initiatives under the ‘Pengukuhan Mikro MADANI’ Programme (Mikro MADANI) with an allocation of RM10 million.
The Mikro MADANI Programme Roadshow and Briefing Session in Sabah which was attended by more than 300 participants was held at the Shangri-La Tanjung Aru Hotel on Oct 20.
Tan Sri Bernard Giluk Dompok, chairman of SME Corp Malaysia, in his speech during the roadshow and briefing session, said that access to financing remains a major issue that hinders MSMEs growth, especially micro enterprises.
Thus, SME Corp Malaysia introduced the Mikro MADANI Programme, which provides financial assistance to micro enterprises in the form of grants, loans and vouchers through five main initiatives, namely the Micro Business Grant (GPM), Micro Business Financing (Micro Biz Financing – MBF), Youth Micro Business Grant@TUBE (Tunas Usahawan Belia Bumiputera), BEEP Plus Sabah and Sarawak, as well as MSME Status Voucher, he said.
The incentive for MSME Status provides assistance in the form of vouchers worth RM100 for the processing fees of the MSME Status registration. MSME Status registration is an initiative developed by SME Corp Malaysia to validate the status of business establishments that fulfill the MSME definition. The registration will enable the MSMEs, in particular the micro enterprises to benefit from various financial assistances and incentives offered by the government, he added.
According to Tan Sri Bernard Dompok, as of September 2023, SME Corp Malaysia has registered a total of 27,054 MSMEs applicants, of which 2,628 MSMEs (9.7 per cent) are from Borneo, specifically Sarawak (1,573) and Sabah (1,055).
On the BEEP Plus Sabah and Sarawak initiative, Tan Sri Bernard Dompok explained that it is created specifically to help micro enterprises, especially from the indigenous Bumiputera community, through matching grants of up to 70 per cent of the project cost or a maximum of RM250,000 for capacity building.
“Eligible expenses under the BEEP Plus includes purchase of machinery and equipment, improvement of product packaging, adoption of ICT & eCommerce, rental and renovation of business premises as well as promotional activities,” he said.
Meanwhile SME Corp Malaysia chief executive officer Rizal Nainy in his statement said that the Mikro MADANI Programme has been opened for applications since its launch on Sept 20. Prior to Sabah, SME Corp Malaysia has also organised a series of roadshows in the East Coast, Northern, and Southern regions of Peninsular Malaysia, as well as in Sarawak.
Also present at the programme were the Department of Industrial and Research Development (DIDR) director Tseu Kei Yue, Malaysian Industrial Development Finance Berhad (MIDF) head of Sabah Region Sudirman Mohd Alwi, and SME Corp Malaysia Sabah State Office director Valentine Thomas.
Source: https://www.theborneopost.com/2023/10/27/sme-corp-malaysia-allocates-rm10-mln-for-microenterprises-in-sabah-sarawak/