KUALA LUMPUR: The Entrepreneur and Cooperatives Development Ministry, through SME Corporation Malaysia (SME Corp), has channelled grants totalling RM2.96mil to 48 small Indian-owned enterprises under the Business Accelerator Programme for Indian Small Business (I-BAP) to date.
"Previously, we set a sales turnover requirement of RM300,000 annually to apply. However, due to high demand, we have amended this requirement so that all small entrepreneurs can apply, whether their annual sales are RM300,000, RM200,000, or RM100,000," said Deputy Minister Datuk Seri R. Ramanan after a meet-and-greet and I-BAP letter of offer presentation here on Wednesday (March 19).
He also announced that applications for the programme would reopen online on April 7, 2025.
"To expedite the distribution of grants, priority will be given to projects that have been completed, and payments to suppliers will be made starting June 1, 2024," he added.
Meanwhile, SME Corp chief executive officer Rizal Nainy said 81 applications were received last year for the RM6mil fund allocated for the programme.
"Under the 13th Malaysia Plan that starts next year, SME Corp will focus on efforts to upscale small and medium enterprises (SMEs) to enhance their contribution to the national economy," he said.
Representatives from Tekun Nasional and SME Bank also attended the event, where they gave a briefing on financing opportunities for SMEs.
Entrepreneurs can visit the official website, www.smecorp.gov.my, for more information on the programme. – Bernama
