KUALA LUMPUR: The Ministry of Entrepreneur and Cooperatives Development is urging micro, small and medium enterprises, cooperatives and franchise operators to fully utilise the incentives and facilities under Budget 2026.
Minister Datuk Ewon Benedick highlighted that the budget allocates at least RM50 billion in funding and financing guarantees for these businesses.
He stated that these allocations remain merely plans if entrepreneurs and cooperatives do not approach the government or ministry for access.
The support package includes not only financing but also training, entrepreneurial guidance and market access to bolster local competitiveness.
Ewon emphasised that the ministry’s work is driven by close collaboration between KUSKOP and its agencies to ensure each initiative delivers tangible outcomes.
He noted that success often begins with inspiration from sharing success stories of those helped by the ministry to motivate new entrepreneurs.
The minister also highlighted the importance of technology and digitalisation, particularly cashless transactions via QR Pay, for empowering small traders and hawkers in Sabah and Sarawak.
KUSKOP is prioritising the growth of social enterprises and strengthening the cooperative movement through the National Cooperative Policy and related initiatives under the 13th Malaysia Plan.
As of 2024, Malaysia had over 16,000 cooperatives with 7.2 million members and a turnover of RM68 billion, surpassing initial targets.
Ewon called on retirees, youth and aspiring entrepreneurs to take full advantage of KUSKOP’s programmes to build resilient, sustainable and innovative ventures. – Bernama
