According to data from the Department of Statistics Malaysia (DOSM), local enterprises had amazing growth last year.
Entrepreneurs running Micro, Small and Medium Enterprises (MSMEs) increased their contribution to the GDP of the nation, reaching 11.6 percent in 2022.
The significant growth stands in stark contrast to the MSMEs’ 1.3 percent growth predicted in 2021.
Chief Executive Officer of SME Corp Malaysia Rizal Nainy stated the growth was greater than that seen prior to the Covid-19 epidemic.
He remarked today during the Southern Region Micro Madani Tour, “Despite their small stature, MSMEs displayed more resilience and recovered faster compared to established larger firms, which showcased the MSMEs pivot role in the nation’s economic rebirth and expansion.
Over 25 MSMEs operating in Johor have received grants and finance totaling more than RM1.71 million from SME Corp. Malaysia to date.
The money was given as a part of the Youth Bumiputera Entrepreneur Seed Programme (TUBE), which received RM230,000; the Bumiputera Enterprise Enhancement Programme (BEEP), which received RM687,000; and the SME Revitalisation Financing Scheme (SMERF), which received RM800,000.
At the Holiday Villa Hotel, here, 400 entrepreneurs took part in a briefing on the Micro Madani strengthening initiative during the visit.
Access to long-term funding was listed by Rizal as one of the major problems MSMEs had to deal with.
“Given these circumstances, SME Corp. introduced the Micro Madani programme, which provides financial aid to micro-enterprises in the form of grants, loans, and vouchers through five main initiatives, namely via its Business Micro Grants, Youth Micro Business Grants (TUBE), BEEP Plus for Sabah and Sarawak, and MSMEs Status Registration Vouchers.”
3,121 (11.5%) of the 27,054 MSME applications SME Corp had on file as of September this year were from Johor.
