SME Corp gave nearly RM23 mln aid to over 1,000 women entrepreneurs in 2023
KUALA LUMPUR: A total of 1,065 women entrepreneurs benefited from financial aid amounting to RM22.6 million from SME Corp Malaysia (SME Corp) in 2023.
The agency comes under the Ministry of Entrepreneur Development and Cooperatives.
This figure represents nearly 40 per cent of the total 2,708 Micro, Small, and Medium Enterprises (MSME) that received benefits from MSME development programmes implemented by SME Corp in that year, with a total aid value of RM92.6 million.
This exceeded SME Corp’s initial target to ensure at least 30 per cent of beneficiaries are women entrepreneurs.
Among the programmes that significantly benefited women entrepreneurs is the Micro Entrepreneur Business Development Programme (BizME), with 548 participants or 48 per cent of the total participants (1,142) being women entrepreneurs, receiving assistance valued at RM1.7 million.
SME Corp also assisted women entrepreneurs through the Bumiputera Youth Entrepreneur Tunas Programme (TUBE), aimed at encouraging young people to venture into entrepreneurship.
Out of the 555 participants approved for business grants totalling RM10 million, 50 per cent were young women, with 280 participants approved for business grants totalling RM4.3 million.
SME Corp also implemented the MSME Export Strengthening Programme, which aims to enhance the pre-export capabilities of MSME and increase the number with the potential to penetrate global markets.
A total of 121 women-owned MSME received approvals totalling RM3.3 million.
Other programmes that recorded favourable participation from women entrepreneurs include the Capacity and Capability Enhancement Programme for SMEs (BAP), Bumiputera Enterprise Enhancement Programme (BEEP), and Micro Business Grant (GPM), which successfully benefited over 100 women entrepreneurs with approved grants totalling over RM12 million for the development of their business capacities.
“SME Corp Malaysia remains committed to assisting women entrepreneurs by targeting at least 30 per cent of beneficiaries for initiatives and programmes implemented to be women entrepreneurs,” said SME Corp CEO Rizal Nainy.
“For 2024, a total of RM134.6 million has been allocated to implement various initiatives and programmes. We aim to benefit over 16,700 MSME this year, including women entrepreneurs, in line with the aspirations of the more equitable, inclusive, and sustainable Madani Economic framework.”
He said this year, SME Corp will once again organise the Enterprise 50 Awards (E50), a prestigious awards programme that recognises the achievements of the top 50 MSME in Malaysia.
“To acknowledge the achievements and contributions of women entrepreneurs, one of the Special Awards created under the programme is the Best Women Entrepreneur Award E50,” he added.
MSME applying for the offered assistance can take advantage of online applications through the newly-introduced Integrated MSME Rating & Incentive System (MyBPI) this year.
For more information about the programmes and initiatives provided, head to www.smecorp. gov.my.