Kuala lumpur: The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) is urging Malaysia’s micro, small, and medium enterprises (MSMEs), cooperatives, and franchise operators to fully leverage the incentives and facilities provided under Budget 2026. Minister Datuk Ewon Benedick emphasized the importance of this initiative, as the budget, presented by Prime Minister Datuk Seri Anwar Ibrahim last week, allocates a substantial RM50 billion in funding and financing guarantees for these businesses.
According to BERNAMA News Agency, Minister Ewon Benedick highlighted that if entrepreneurs and cooperatives do not engage with the government or the ministry to access these resources, the allocations will remain merely plans. Speaking after an appearance on Bernama TV’s Ruang Bicara programme, he stressed that the support extends beyond financing to include training, entrepreneurial guidance, and market access, all aimed at enhancing local business competitiveness.
Ewon further explained that the ministry’s efforts are built on strong collaboration with KUSKOP and its agencies, ensuring that each initiative leads to significant outcomes. He emphasized that success often starts with inspiration, and by sharing success stories of those aided by the ministry, they aim to motivate other entrepreneurs.
The minister also pointed out the critical role of technology and digitalization, particularly the adoption of cashless transactions through QR Pay, in empowering small traders and hawkers, especially in Sabah and Sarawak, aligning with the Small Traders and Hawkers Development Policy.
Additionally, KUSKOP is focusing on the growth of social enterprises and strengthening the cooperative movement through the National Cooperative Policy and related initiatives outlined in the 13th Malaysia Plan (13MP). As of 2024, Malaysia had over 16,000 cooperatives with 7.2 million members and a turnover of RM68 billion, exceeding initial expectations.
Minister Ewon urged retirees, youth, and aspiring entrepreneurs to take full advantage of KUSKOP’s programs to build resilient, sustainable, and innovative ventures.