Women’s Entrepreneurship In M'sia Low Despite Significant Population Presence - Nancy

KUALA LUMPUR, Aug 12 (Bernama) -- Women's involvement in entrepreneurship still lags behind, despite their significant presence in Malaysia's population, said Women, Family and Community Development Minister Datuk Seri Nancy Shukri.

According to the Department of Statistics Malaysia's (DOSM) 2016 economic census, of the 920,624 enterprises registered in the country, only 20.3 per cent, or 187,265 enterprises, are women-owned.

"Our focus is clear, which is to reach 30 per cent women-owned small and medium enterprises (SME). In order to reach this number, we need to continue specialised women financing programmes by centering women in the design process to give them greater access to the capital they need in business.

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"As such, the government is and has always been committed to providing financing to women who want to start their own business," she said in her keynote speech during the launching ceremony of Strivers' Hub: Bridging Digital Opportunities, here today.

The Strivers' Hub is a new digital one-stop portal designed to broaden growth opportunities for Malaysia’s micro, small and medium-sized enterprises (MSME), with a focus on those owned and led by women, offering digital upskilling programmes, mentoring opportunities and essential resources for accessing credit and financial schemes.

The initiative is a collaborative effort between the Mastercard Center for Inclusive Growth, The Asia Foundation, and the Ministry of Women, Family and Community Development (KPWKM) through the Department of Women Development.

Meanwhile, at a press conference after the ceremony, Nancy announced that KPWKM has proposed the establishment of a Women's Academy, an initiative aimed at enhancing the economic empowerment of women nationwide.

The proposed academy, which is also part of the ministry's wishlist for the upcoming Budget 2025, will serve as a central hub for women to access resources, training, and support to improve their financial independence and contribute to their families and communities.

"Everything related to the economy or anything women want to do to benefit their families can be centred at this academy. This will also ensure that we have a dedicated place to conduct relevant programmes," she said, adding that the academy would serve as a support system for women entrepreneurs as well.

-- BERNAMA