IN an effort to enhance the contribution of small and medium entrepreneurs (SMEs) to the economy, Sarawak will continue implementing various initiatives and providing financial assistance, according to Minister for International Trade, Industry and Investment, Datuk Amar Awang Tengah Ali Hasan.
“SMEs have contributed significantly to Malaysia’s socioeconomic growth, with up to 97.4 per cent of total business establishments and contributing 37.4 per cent to the national GDP (Department of Statistics Malaysia, 2021).
“Hence, we will continue to support our SMEs and nurture their growth, and also collaborate with state and federal agencies as well as business communities and chambers of commerce,” the Deputy Premier said during the final day of the DUN session.
“Among the financial assistance offered include the Graduan ke Arah Usahawanan (Gerak) and Usahawan Teknikal & Vokasional (Ustev) grants.
“These programmes, which have disbursed RM10.91mil to 1,291 SMEs thus far, aim to assist graduates and school-leavers with technical skills in starting and expanding their businesses.”
Furthermore, the Go Digital Programme encourages SMEs to embark on digital entrepreneurship by providing a grant of RM10,000 to successful applicants.
In 2021, RM6mil was disbursed to 600 SMEs in Sarawak through this programme, he said, with an allocated amount of RM5mil expected to benefit 500 SMEs in the current year.
“My ministry is also providing soft loans at a low interest rate of four per cent based on monthly reducing balance through the Skim Kredit Mikro Sarawak (SKMS) and Skim Pinjaman Industri Kecil dan Sederhana (SPIKS).”
Awang Tengah said RM101.6mil has been disbursed thus far, benefitting more than 2,500 SMEs.
“Additionally, 258 B40 entrepreneurs have enjoyed interest-free loans up to a maximum of RM10,000 per applicant, with a total approved loan amount of RM1.9mil.
“The state also provides interest subsidy schemes for 3.5 years to eligible SMEs under Special Relief Fund (SRF), Targeted Relief and Recovery Facility (TRRF), Penjana Tourism Financing (PTF), SKMS and SPIKS.
“These schemes were introduced to ease SMEs’ financial burden during the pandemic.
“Currently, 4,702 SMEs are benefitting from these interest subsidy schemes totaling RM83.44mil.
“Note that Sarawak is the only government in Malaysia that has provided interest rate subsidies to SMEs,” he stressed.
Sarawak has implemented various initiatives under BKSS1.0 to 9.0, with an allocation of RM6.7mil, providing relief to the people, including the business communities, during challenging times.
Furthermore, the state will continue offering a discount on electricity bills until June of this year.
