Kuala lumpur: A total of RM5 million has been invested by the National Entrepreneurship Institute (INSKEN) since 2022 to strengthen Malaysia's social enterprise sector through initiatives focused on capacity building, market access, and social enterprise accreditation. Entrepreneur Development and Cooperatives Minister Steven Sim Chee Keong emphasized that this investment aligns with the MADANI Government's efforts to position social enterprises as a key driver of the country's inclusive economy.
According to BERNAMA News Agency, social enterprises are gaining importance amid geopolitical uncertainties, global supply chain disruptions, and social changes. This business model not only focuses on profit but also addresses social and environmental issues through creative and sustainable approaches. Minister Sim highlighted that an ageing society in the future would require more community care services and social support, which can be effectively driven through the social enterprise model.
INSKEN has implemented various initiatives, including engagement sessions with industry players, social enterprise accreditation clinics, international conferences, and programs to strengthen networking and market access both locally and abroad. Minister Sim announced that 3,875 participants have benefited from INSKEN's programs and initiatives to date. Additionally, INSKEN allocated RM200,000 over the past six months to assist 20 social enterprise entities in expanding their markets and community impact through procurement opportunities, operational subsidies, event participation, and strategic business matching.
Minister Sim also encouraged more social enterprises to obtain accreditation through INSKEN to enhance their credibility and gain access to financing, tax exemptions, government programs, exhibitions, and other support. Based on the Social Entrepreneurship Action Framework 2030 (SEMy2030) and the British Council's The State of Social Enterprise in Malaysia study, Malaysia had an estimated 20,000 social enterprises as of 2018. To date, 600 business entities have received social enterprise accreditation through INSKEN, comprising 281 Aspiring Social Enterprises, 252 Basic Social Enterprises, and 67 Accredited Social Enterprises.
Meanwhile, INSKEN chief executive officer Viviantie Sarjuni stated that the agency is moving towards mainstreaming social procurement practices to help social enterprises become more competitive, sustainable, and ready to expand further.