Govt Channels RM6.35 Bln Financing To Over 260,000 Entrepreneurs Until sept 2024 - KUSKOP

KUALA LUMPUR, Oct 29 (Bernama) -- The government has channelled a total of RM6.35 billion in financing to 265,097 entrepreneurs through the Ministry of Entrepreneur and Cooperatives Development (KUSKOP) until September this year.

Its deputy minister, Datuk Seri R Ramanan, said the ministry, via its agencies, is always committed to providing assistance and support to micro, small, and medium enterprise (MSME) entrepreneurs in various aspects. 

He said KUSKOP encourages entrepreneurs to engage in business within programmes organised by the ministry and agencies, including the MADANI cooperative and entrepreneur sales programme (JMKU) and the one district, one industry showcase (SDSI). 

“Until Sept 30, 2024, a total of 95 JMKU programmes were organised, registering sales amounting to RM8.54 million. 

“Additionally, the SDSI showcase programmes in Sabah, Perak, and Johor have recorded sales worth RM1.22 million," he said during the question-and-answer session in the Dewan Rakyat today. 

He was replying to a question from Roslan Hashim (PN-Kulim Bandar Baharu) about the ministry's assistance and support for small entrepreneurs who are facing a significant decline in profit margins despite the economic recovery. 

According to Ramanan, the MSME sector posted encouraging growth in 2023 based on key macroeconomic indicators such as gross domestic product, exports, employment, and productivity. 

He added that MSMEs have also recorded a 5.0 per cent growth, contributing RM613.1 billion in 2023 compared to RM584 billion in 2022.

"This achievement is also in line with the findings of the SME Corp’s MSME Survey 2024, which shows better MSME performance, with 53 per cent of respondents recording higher sales in 2023. 

"Additionally, 74.2 per cent of respondents stated that their businesses will improve in 2024," he added. 

-- BERNAMA