KOTA BELUD, March 18 (Bernama) -- National Entrepreneur Group Economic Fund (TEKUN Nasional) has allocated RM5 million to be channelled to Tamu market entrepreneurs through the Tamu Entrepreneur Financing Scheme (SPUT), said Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick.
Ewon, who is also the Penampang member of Parliament, said a total of 1,000 entrepreneurs are expected to benefit from this scheme, where Tamu market entrepreneurs can apply for financing of up to RM5,000.
"This financing is also open to informal entrepreneurs (small traders not registered with the Companies Commission of Malaysia or SSM).
"SPUT is group micro-financing for Tamu market entrepreneurs to increase the income and socio-economic status of the B40 group, especially in Sabah and Sarawak," he said in a statement after launching the SPUT here today.
At the event, 25 SPUT entrepreneurs in Kota Belud received funding in cheques totalling RM109,000.
Ewon said until now a total of 57 entrepreneurs have received SPUT funding. Of this number, there are 41 Sabah entrepreneurs involving a total of RM177,000 and 16 Sarawak entrepreneurs with a total of RM75,000.
He said entrepreneurs, under SPUT, will also be covered by the Self-Employment Social Security Scheme, under the Social Security Organisation (SOCSO), as insurance protection for self-employed individuals.
"The financing scheme uses a group concept for easier, faster and efficient financing facilities for business needs subject to the terms and conditions of TEKUN financing," he added.
From its inception in 1998 until February 2023, TEKUN Nasional channelled financing amounting to RM8.17 bilion to 548,473 entrepreneurs nationwide.
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