Image credit: Bernama

KUALA LUMPUR (March 2): A total of 310 micro, small and medium enterprises (MSMEs) have benefitted from the Bumiputera Enterprise Enhancement Programme (BEEP) grants totalling RM38.7 million in 2021.

Entrepreneur Development and Cooperatives Minister Tan Sri Noh Omar said the assistance, which was provided through SME Corp Malaysia, was in the form of grants of up to RM500,000 for the purpose of enhancing MSME business capacity and capability.

He said BEEP does not provide the full amount or 100 per cent of the grant sought, instead it is in the form of a matching grant, subject to conditions.

“The percentage of the grant sought can be considered according to the size of the company, that is 90 per cent (of the amount) for micro companies, 60 per cent for small companies, and 50 per cent for medium-sized companies,” he said when responding to a question from Datuk Mohd Nizar Zakaria (BN-Parit) at the Dewan Rakyat, today.

Mohd Nizar asked whether the ministry plans to convert the MSME grants into flexible matching grants.

Noh said SMEs that applied for financing to improve their business under the MSME Digital Financing Initiative Programme were eligible for a grant conversion of up to 50 per cent or a maximum of RM250,000, subject to conditions.

“As at October 2021, a total of 20 SMEs have received grant conversions totalling RM4.7 million,” he said.