Tekun disbursed RM8.3bil in micro loans since 1998, says Saraswathy

TANJUNG MALIM: The National Entrepreneurial Group Economic Fund (Tekun Nasional) has disbursed RM8.3bil in micro-financing since its establishment in 1998 until March this year.

Deputy Entrepreneur Development and Cooperatives Minister Saraswathy Kandasami said the funding channelled through its 170 branches nationwide had benefited 752,177 entrepreneurs.

"The government remains committed to helping local entrepreneurs expand their businesses. Tekun Nasional provides not only financing facilities but also advisory services and business networks,” she said in her speech when opening the Perak Entrepreneur Day Tour 2023@Jualan Ambang Aidilfitri in the Mualim district here Sunday (April 16).

She said Tekun Nasional provides financing from RM1,000 to RM200,000 to entrepreneurs who are developing their businesses.

In Perak alone, Tekun Nasional has channelled RM546mil in micro-financing, including RM52.8mil through the Indian Community Entrepreneur Development Scheme (SPUMI), which has benefited 3,932 entrepreneurs.

Besides Tekun Nasional, Amanah Ikhtiar Malaysia, another agency under the ministry, has so far helped over 300,000 female entrepreneurs through seven loan schemes ranging from RM5,000 to RM30,000.

Meanwhile, Saraswathy said apart from capital, lack of experience and not having the right advice are among the challenges faced by entrepreneurs in this country.

As such, the ministry, through the National Entrepreneurship Institute, is providing guidance and entrepreneurial capacity development programmes to help entrepreneurs increase the sales of their products.

The guidance programme also covers the latest business trends such as digitalisation, dropshipping, e-commerce, freelance and online business.

"Simply put, guidance services are provided from the basic steps of starting a business to domestic and international marketing coaching,” she said. - Bernama