KUALA LUMPUR: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has recorded impressive achievements throughout 2024 and is now poised to enter 2025 with renewed missions and aspirations aimed at elevating KUSKOP to a new level of excellence.
Despite facing numerous challenges during 2024, KUSKOP, under the leadership of Minister Datuk Ewon Benedick, has excelled in its efforts, significantly benefiting micro, small, and medium enterprises (MSMEs), cooperatives, social enterprises, informal entrepreneurs, street vendors, and small traders across the nation.
From January to December 2024, a total of 204 programs were implemented, positively impacting over 700,000 entrepreneurs nationwide.
These programs encompassed various aspects, including financing, capacity building, digitalization and automation adaptation, market access expansion, and fostering an entrepreneurial culture.
Ewon highlighted that the financing initiatives under KUSKOP’s agencies have had a substantial impact, with RM6.67 billion allocated to 267,150 entrepreneurs and cooperatives through TEKUN Nasional, Amanah Ikhtiar Malaysia (AIM), Bank Rakyat, SME Bank, SME Corp, PERNAS, and the Malaysian Cooperative Commission (SKM) from January to November 2024.
Of this total, KUSKOP, through its agencies, has disbursed RM700.93 million to 50,879 entrepreneurs and cooperatives in Sabah during the same period.
Special financing program for women and youth
KUSKOP is dedicated to implementing inclusive programs for all entrepreneurs, including those from the M40 and B40 groups, as well as women and youth entrepreneurs.
Throughout 2024, KUSKOP will roll out various financing programs and schemes aimed at women and youth, facilitated by AIM, TEKUN Nasional, Bank Rakyat, UDA, Pernas, and SME Corp.
Ewon stated that the specific financing schemes for women include the AIM financing scheme, the TEKUN-Women Financing Scheme, the BRPlus-i BizLady Program, the Successful Women Entrepreneurship Engagement Talent (SWEET) Program, and the UDA Bizznita Program.
He mentioned that from January to November 2024, AIM has allocated RM2.57 billion in financing to 272,242 entrepreneurs under its financing scheme.
For the TEKUN-Women Financing Scheme, 3,258 women entrepreneurs benefited from a total allocation of RM28 million. This amount is part of the overall RM386.5 million disbursed by TEKUN Nasional to 22,478 women entrepreneurs through various other financing schemes.
“The BRPlus-i BizLady Program by Bank Rakyat has provided RM30.9 million in financing to 489 women entrepreneurs, contributing to a total of RM136 million approved for 1,064 women entrepreneurs overall.
“The SWEET Program, part of the Be Your Own Boss (BYOB) initiative by PERNAS, has involved 60 women entrepreneurs in the franchise industry, with financing approval amounting to RM9.2 million,” he added.
Ewon stated that the UDA Bizznita program also provides strategic business spaces in UDA-owned buildings and premises for 406 women entrepreneurs.
“SME Corp. has implemented various entrepreneurship programs that include a total of 1,447 women entrepreneurs, with a budget of RM34.2 million.
Regarding youth entrepreneurs, Ewon mentioned that his ministry has launched several specific programs for this group in 2024.
These include the Professional Training and Education for Growing Entrepreneurs (PROTÉGÉ), the Bumiputera Youth Entrepreneur Development Program (TUBE), the TEKUN financing scheme, the Young Entrepreneurship Engagement Talent (YOUNITY) program, and the Bank Rakyat Unipreneur program.
“The graduate entrepreneur development programs under PROTÉGÉ have benefited 26,716 participants with a budget of RM6.8 million.
“The TUBE program by SME Corp, which offers capacity-building assistance in the form of training, startup grants, and advisory services, has supported 805 young entrepreneurs with a budget of RM14.65 million,” he added.
He further noted that TEKUN Nasional has provided financing to 21,979 youth entrepreneurs aged between 18 and 40 under the TEKUN financing scheme, amounting to RM506.5 million as of November 2024.
“Through the YOUNITY program under the Be Your Own Boss (BYOB) project, as of November 2024, Pernas has approved franchise financing for 41 young entrepreneurs totaling RM5.77 million.
“Bank Rakyat has implemented the Bank Rakyat Unipreneur program to assist 500 selected university students from the asnaf category, with a budget of RM1.675 million,” he concluded.
Development Project for Village Market Premises
One of the key achievements in selected initiatives for 2024 is the Development Project for Village Market Premises, a new initiative by KUSKOP that commenced in 2024.
According to Ewon, the Village Market Premises Development Program aims to enhance infrastructure facilities to support small traders in rural areas, particularly in Sabah and Sarawak.
He stated that a total of 92 Village Market sites, costing RM19 million, have been established, with 49 sites allocated for Sabah and 12 for Sarawak under Phase 1, and 18 sites for Sabah and 25 for Sarawak under Phase 2.
JMKU and Trade Mission
Throughout 2024, the MADANI Cooperative and Entrepreneur Sales Program (JMKU) and the International Trade Mission have also had a positive impact.
As of December 5, 2024, a total of 142 JMKU series events have been held, benefiting 264,863 users with total sales amounting to RM9.94 million.
KUSKOP has also achieved success through the Trade Development Mission for Halal Entrepreneurs, Vendors, and Franchises during 2024.
This is evidenced by the actual sales value of RM1.58 billion and potential sales value recorded across 18 international trade missions within the trade development program related to the halal sector, vendors, and franchises, involving 306 entrepreneurs.
Countries involved in the trade mission include Japan, France, Germany, and Saudi Arabia.
Initiatives and Aspirations of KUSKOP for 2025
As it faces various challenges in the new year, KUSKOP is advancing with several new and existing initiatives aimed at enhancing its effectiveness and strengthening the ministry’s role.
This includes ongoing efforts to improve infrastructure facilities to support small traders in rural areas, particularly in Sabah and Sarawak, through the Tamu Desa program.
Additionally, it aims to establish the National Policy for Vendors and Small Traders (D3PKN) 2030 as the primary guideline for the development of the vendor and small trader community. This policy was launched during the National Vendors and Small Traders Day (HPPK) celebration in 2024.
Furthermore, KUSKOP seeks to strengthen the franchise industry ecosystem, including the introduction of the National Franchise Policy (DFN).
Ewon stated that DFN 2030 is a comprehensive and holistic policy designed to develop a viable and sustainable franchise ecosystem through the transformation and enhancement of local franchise brands and governance efficiency.
“It encompasses five main pillars, such as improving policies and governance, promoting franchising as a preferred business model, and enhancing the capacity and capabilities of franchise entrepreneurs.
“In addition, it aims to optimize financial assistance access for franchise entrepreneurs and improve access to both domestic and international markets,” he noted.
Also highlighted is the establishment of the National Entrepreneur and MSME Development Council Secretariat and the District-Level Council for Entrepreneur, Cooperative, Vendor, and Small Trader Development (MPUKPPD).
KUSKOP’s next strategy involves continuing the Ministry’s Budget Dialogue for the Eastern Malaysia zone, which began in 2023 and 2024, drafting a new cooperative act to replace the Cooperative Act of 1993 [Act 502], and launching new initiatives for Indian entrepreneurs.
