SME Corp. Malaysia, exceeded expectations by providing RM22.6 million in financial aid to 1,065 women entrepreneurs in 2023. This represents nearly 40% of the 2,708 Micro, Small, and Medium Enterprises (MSMEs) benefiting from the agency’s development programs, with a total aid disbursement of RM92.6 million.
This accomplishment surpasses SME Corp. Malaysia’s initial target of ensuring that at least 30% of program beneficiaries are women entrepreneurs.
Noteworthy among the initiatives supporting women entrepreneurs is the Micro Entrepreneur Business Development Program (BizME), where 548 participants, 48% of whom are women, received RM1.7 million in assistance.
SME Corp. Malaysia also contributed to empowering women entrepreneurs through the Bumiputera Youth Entrepreneurs Program (TUBE), encouraging young individuals to enter entrepreneurship.
Out of 555 approved business grant recipients totaling RM10 million, half (50%) were young women, with 280 participants approved for business grants amounting to RM4.3 million.
Additionally, SME Corp. Malaysia implemented the MSME Export Strengthening Program to enhance pre-export capabilities and global market access. A total of 121 women-owned MSMEs received approval for grants totaling RM3.3 million.
Other programs witnessing substantial participation from women entrepreneurs include the Capacity and Capability Enhancement Program for SMEs (BAP), Bumiputera Enterprise Enhancement Program (BEEP), and Micro Business Grant (GPM).
Over 100 women entrepreneurs benefited from approved grants exceeding RM12 million, supporting the development of their business capacities.
Rizal Nainy, CEO of SME Corp. Malaysia, emphasized the commitment to supporting women entrepreneurs, targeting at least 30% of beneficiaries for women-centric initiatives in the future.
For 2024, an allocation of RM134.6 million aims to benefit over 16,700 MSMEs, aligning with the aspirations of a more equitable, inclusive, and sustainable MADANI Economy framework.
The Enterprise 50 Awards (E50), organized by SME Corp. Malaysia, will continue in 2024, recognizing the top 50 MSMEs in Malaysia. To honor the achievements of women entrepreneurs, a Special Award category, the Best Women Entrepreneur E50 Award, has been introduced.
To streamline the application process for MSMEs seeking assistance, SME Corp. Malaysia has introduced the Integrated MSME Rating & Incentive System (MyBPI) for online applications.
