A total of RM17.6 million in financial assistance has been approved for 3,759 Micro, Small and Medium Enterprises (MSMEs) from Sarawak by SME Corp. Malaysia, an agency under the Ministry of Entrepreneur Development and Cooperatives (KUSKOP), since 2021.
A total of 250 Sarawak entrepreneurs, with grants worth RM3.5 million or 11% of the total, have benefited from the Bumiputera Youth Entrepreneur Programme (TUBE), which aims to encourage youth to venture into entrepreneurship.
Sarawak MSMEs have also received assistance under the Bumiputera Enterprise Enhancement Programme (BEEP), which enhances MSMEs’ competitiveness through integrated support, including advisory services, technical support, training, and financial aid.
Of the 983 MSMEs that have been approved financial assistance amounting to RM121.9 million under BEEP 2.0, approximately 4% are Sarawak MSMEs, with 39 MSMEs receiving financial assistance totalling RM6.2 million.
Additionally, SME Corp. Malaysia has implemented the Mikro Madani Strengthening Programme (Mikro Madani), launched in 2023. A total of 408 micro enterprises in Sarawak have benefited, with approvals totalling RM4.6 million.
The Mikro Madani Programme provides financial assistance to micro enterprises in the form of grants, loans, and vouchers for MSME status registration through five main initiatives: Micro Business Grant (GPM), Micro Biz Financing (MBF), Youth Micro Business Grant @ TUBE, BEEP Plus Sabah & Sarawak, and MSME Status Vouchers.
Other programmes that have seen encouraging participation from Sarawak MSMEs include the Business Accelerator Programme (BAP), with approvals totalling RM3 million. Non-financial aid programmes with high participation rates include the Micro Entrepreneur Development Programme (BizME) and the Rating & Accreditation Programme (SRA).
In a statement, Rizal Nainy, CEO of SME Corp. Malaysia, said, “We aim for more MSMEs from Sarawak to benefit from programmes that will be implemented in 2025, in line with the aspirations of the more equitable and inclusive MADANI Economic Framework.”
This target commitment was also stated during SME Corp. Malaysia’s courtesy call to Tun Pehin Sri Dr. Haji Wan Junaidi bin Tuanku Jaafar, the Governor of Sarawak, at the Astana Negeri Sarawak on 25 November 2024.
“To facilitate MSMEs in applying for the offered assistance, they can utilise online applications through the Integrated MSME Rating & Incentive System (MyBPI) introduced this year.
“The MyBPI has proven successful in easing access for MSMEs, being recognised as one of the Bureaucratic Red Tape Reform Projects (RKB) during the MADANI Government Two-Year Programme and the recent National Public Service Reform Convention,” he added.
For the latest information on the assistance provided by SME Corp. Malaysia, MSMEs can visit the website at www.smecorp.gov.my and the official social media channels of SME Corp. Malaysia.
