Kuala Lumpur: More private companies need to step up and extend support in the form of innovative and sustainable financing to micro, small, and medium enterprises (MSMEs), said Minister of Entrepreneur Development and Cooperatives Datuk Ewon Benedick. The minister emphasized that this initiative aligns with the government’s goal to empower MSMEs as the backbone of the national economy.

According to BERNAMA News Agency, Datuk Ewon Benedick highlighted the significance of MSMEs in contributing to the gross domestic product (GDP) and the potential for increased contributions if more support is provided. He made these remarks while officiating the RM50 million Revenue-Based Financing Programme by the Dattel Asia Group, in conjunction with OHSEM360 2025.

Benedick expressed the government’s appreciation for private sector efforts, which create value and lay the foundation for a more significant long-term impact on the MSME business ecosystem. This aligns with the National Entrepreneurship Policy 2030, aimed at expanding access to capital markets to enhance the capacity and competitiveness of MSMEs domestically and globally.

The initiative by Dattel Asia Group was cited as an example of how financial and technological innovation can directly impact the growth and sustainability of MSMEs. The minister emphasized the joint responsibility of the government and private sector in ensuring the development of a sustainable entrepreneurship ecosystem for the national economy’s benefit.

Benedick also welcomed private sector involvement in providing alternative financing and highlighted the importance of adapting to technological developments such as artificial intelligence (AI), Big Data, and automation. He noted that these technologies have transformed the global business landscape, necessitating MSMEs to move beyond traditional methods to remain competitive.