Indian SME Entrepreneurs In Penang Urged To Leverage SPUMI Financing Scheme

GEORGE TOWN, April 5 (Bernama) -- Small and medium enterprise (SME) entrepreneurs within the Indian community in Penang are urged to leverage the Indian Community Entrepreneur Development Scheme (SPUMI) to start or expand their businesses.

State Housing and Environment Committee chairman Datuk Seri S. Sundarajoo said the initiative, implemented through Tekun Nasional, an agency under the Ministry of Entrepreneur and Cooperatives Development (KUSKOP), provides a much-needed avenue for capital assistance to small entrepreneurs who often face financial constraints.

“Many within our community operate small-scale businesses, some even running simple tea stalls, but are unaware of where to obtain capital assistance.

“As the representative of the Indian community in the state government, it is my responsibility to ensure this information reaches them, so they are aware that a caring government is always ready to support efforts to enhance their business performance,” he told reporters after a briefing on the financing scheme here today.

He said the briefing session is being conducted in phases to raise awareness among the Indian business community on application procedures for loans as well as available government grants.

The scheme is divided into two main categories — the first covering loans between RM1,000 and RM50,000, and the second between RM50,000 and RM100,000.

He said the session is implemented under an initiative by Entrepreneur and Cooperatives Development Minister Steven Sim to ensure information on government assistance is disseminated comprehensively across all districts, thereby increasing awareness among Indian entrepreneurs of the availability of such financing support.

“Following today’s session on the island, we plan to hold a similar session in Seberang Perai within the next one or two months to ensure all entrepreneurs have access to this financing information,” he said.

-- BERNAMA