In 2023, a total of 1,065 women entrepreneurs received financial assistance totaling RM22.6 million from SME Corp. Malaysia, an agency under the Ministry of Entrepreneur Development and Cooperatives (MEDAC).
This figure accounts for nearly 40% of the total 2,708 Micro, Small, and Medium Enterprises (MSMEs) benefiting from development programs implemented by SME Corp. Malaysia during the year, with a total aid value of RM92.6 million.
This achievement surpasses the initial target set by SME Corp. Malaysia, ensuring that at least 30% of beneficiaries are women entrepreneurs.
Notable among the programs benefiting women entrepreneurs is the Micro Entrepreneur Business Development Program (BizME), with 548 participants, 48% of whom are women, receiving RM1.7 million in assistance.
SME Corp. Malaysia also aided women entrepreneurs through the Bumiputera Youth Entrepreneurs Program (TUBE), which aims to encourage young people to venture into entrepreneurship.
Out of 555 approved business grant recipients totaling RM10 million, half (50%) were young women, with 280 participants approved for business grants totaling RM4.3 million.
Furthermore, SME Corp. Malaysia implemented the MSME Export Strengthening Program to enhance the pre-export capabilities of MSMEs and increase the number of MSMEs with the potential to penetrate global markets. A total of 121 women-owned MSMEs received approval for grants totaling RM3.3 million.
Other programs that saw significant participation from women entrepreneurs include Capacity and Capability Enhancement Program for SMEs (BAP), Bumiputera Enterprise Enhancement Program (BEEP), and Micro Business Grant (GPM), which successfully benefited over 100 women entrepreneurs with approved grants totaling more than RM12 million for the development of their business capacities.
SME Corp. Malaysia, Chief Executive Officer, Rizal Nainy, said “SME Corp. Malaysia remains committed to assisting women entrepreneurs by targeting at least 30% of beneficiaries for initiatives and programs aimed at women entrepreneurs.
For the year 2024, a total of RM134.6 million has been allocated to implement various initiatives and programs. We aim to benefit over 16,700 MSMEs this year, including women entrepreneurs, in line with the aspirations of the more equitable, inclusive, and sustainable MADANI Economy framework.”
This year, SME Corp. Malaysia will once again organize the Enterprise 50 Awards (E50), a prestigious award program that recognizes the top 50 MSMEs in Malaysia. To acknowledge the achievements and contributions of women entrepreneurs, one of the Special Awards created under this program is the Best Women Entrepreneur E50 Award,” he added.
To facilitate MSMEs in applying for the offered assistance, they can utilise the online application through the Integrated MSME Rating & Incentive System (MyBPI) introduced this year.
