Kuala lumpur: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has channelled nearly RM7 billion under its Power Up 10K initiative, benefiting more than 213,000 micro, small, and medium enterprises (MSMEs) nationwide during the first six months of this year. Its Minister Steven Sim said the funds were disbursed through various support and financing programmes under the initiative, which targets a total disbursement of RM15 billion this year.

According to BERNAMA News Agency, the achievement reflected KUSKOP's continued commitment to ensuring that the MSME sector remains competitive and resilient in facing current global economic challenges. Sim highlighted that for Negeri Sembilan alone, under the Power Up programme, RM345 million had been successfully channelled to more than 6,600 local entrepreneurs. This demonstrates that government funding and support are effectively reaching the grassroots.

Sim announced that KUSKOP has also set a new direction to ensure that all agencies under the ministry serve as an efficient front line in assisting entrepreneurs. Emphasis is being placed on expanding business resources, enhancing the efficiency of public service delivery, and reducing compliance costs to ease the burden on entrepreneurs. He noted that while external costs like global oil price fluctuations cannot be controlled, compliance costs arising from laws and local government policies should be minimized.

Sim also urged state-level agencies to engage in healthy competition by speeding up fund disbursements instead of waiting for entrepreneurs to approach them. He emphasized the importance of intensifying roadshows and stepping up promotional efforts, whether through social media or physical outreach, to ensure entrepreneurs are aware of the available schemes, programmes, and facilities and know where to seek assistance.