SEREMBAN, JULY 22 — The Ministry of Entrepreneur and Cooperative Development (KUSKOP) has channeled an allocation of almost RM7 billion through the ‘Power Up 10K’ initiative which has assisted more than 213,000 Micro, Small and Medium Enterprise (PMKS) entrepreneurs nationwide during the first six months of this year.
Minister of Entrepreneur and Cooperative Development Steven Sim said the funds were channeled through various support and financing programmes under the initiative, which targeted a total channelling of RM15 billion throughout this year.
He said the success reflected KUSKOP’s continued commitment to ensuring the PMKS sector remains competitive and able to face the various challenges of the current global economy.
“For Negeri Sembilan alone, through this ‘Power Up 10K’ programme, we have successfully channelled RM345 million to more than 6,600 local entrepreneurs.
“This shows that government funds and support are reaching the grassroots level effectively,” he told reporters after attending a gathering with residents and KUSKOP Negeri Sembilan agencies, here, today.
Meanwhile, Sim said KUSKOP had also set a new direction to ensure that all agencies under the ministry acted as efficient front lines in assisting traders.
The approach, he said, places emphasis on increasing business resources, increasing the efficiency of public service delivery, and reducing compliance costs to ease the burden on entrepreneurs.
“If we cannot control external costs such as movements in world oil prices, we should at least ensure that the cost of complying with local government laws and policies can be reduced as much as possible,” he said.
Sim also urged agencies at the state level to compete healthily by speeding up the fund distribution process and not just ‘waiting for customers’ in the office.
“Don’t wait for customers to come looking for us. We must intensify our roadshows, intensify our promotions, whether through social media or physically, so that entrepreneurs know what schemes we have, what programs, what facilities and where to look,” he said.
— BERNAMA
