KAJANG: The Entrepreneur Development and Cooperatives Ministry disbursed RM10.7bil in financing to nearly 300,000 entrepreneurs, including hawkers and petty traders, from January to September this year.
Its Minister Steven Sim said the disbursement was part of the ministry’s RM15bil financing commitment channelled through seven financing agencies.
"Of the RM15bil commitment pledged by the ministry through its seven financing agencies, we have successfully disbursed RM10.7bil to nearly 300,000 entrepreneurs nationwide.
"Of the RM10.7bil, RM3.14bil was in the form of microfinancing. Of the nearly 300,000 entrepreneurs who received financing, 200,000, or about two-thirds, were hawkers, petty traders, shopkeepers and others,” he said.
He was speaking at the closing ceremony of the 2026 National Hawkers and Petty Traders Day (HPPK) Carnival, which was officiated by Prime Minister Datuk Seri Anwar Ibrahim, here on Sunday (Nov 1).
Meanwhile, Sim said his ministry had introduced several key measures to protect traders and entrepreneurs, including requiring financing applications for amounts below RM20,000 to be approved within 24 hours.
"If hawkers and petty traders need capital urgently, it means they are already in a difficult situation and cannot afford to wait for days.
"If they cannot wait, where else can they turn? They may end up seeking help from loan sharks.
"To prevent this, agencies under the ministry are required to provide a response within 24 hours,” he said.
He said that, beginning August this year, applications to the National Entrepreneurial Group Economic Fund (Tekun Nasional) could, for the first time in its history, be submitted online.
He also expressed his appreciation to the Prime Minister for his concern and continued support for the country's entrepreneurship sector. — Bernama
