The allocation of RM470 million to finance funds specifically designed for women-led micro, small, and medium enterprises (MSMEs) is set to significantly support women entrepreneurs. This funding will help them secure working capital, acquire essential assets, and enhance their business capabilities.
Tan Sri Soh Thian Lai, president of the Federation of Malaysian Manufacturers (FMM), stated that improving access to financing is in line with the FMM’s mission to foster the growth and sustainability of women entrepreneurs. This initiative is expected to contribute to inclusive economic development in the region.
“We welcome the initiative of RM470 million in financing funds provided by SME Bank, Bank Simpanan Nasional, Bank Rakyat, and Mara, which FMM has been actively advocating,” he said in a statement today.
Small and Medium Enterprises Association (Samenta) Malaysia president Datuk William Ng said, “In particular, the RM 3.8 billion for automation and digitalization will be helpful, while the RM 650 million allocated to support women and youth entrepreneurs is an inclusive strategy. We are also particularly thankful for the matching grant for industrial training to be administered by TalentCorp, which will help to ease the talent crunch among SMEs while allowing more students to gain practical experience. SMEs in Sabah and Sarawak, in particular, will find it difficult to implement the minimum wage, and we can expect substantial job loss as a result of this new announcement. In urban centers, such as the Klang Valley, southern Johor, and Penang, median wages are already far higher than even the RM 1,700 announced. Beyond job loss, we will see further wage compression among the M40, with foreign workers being the biggest beneficiary of the revised minimum wage,”
Meanwhile, Funding Societies Malaysia country head Chai Kien Poon said, “Continued support for MSME digitalization through initiatives like the Digital Matching Grant for SMEs and Digital Grant for Vendors is also essential. While some Malaysian SMEs are thriving by adapting to digital trends and evolving market demands, many still encounter significant challenges, particularly in accessing financing, managing costs, and navigating the increasingly digital landscape. “This includes partnerships with agencies such as SME Corp, Unit Peneraju Agenda Bumiputera, Credit Guarantee Corporation, and Bank Pembangunan Malaysia Bhd.”