LOCAL ENTREPRENEURS URGED TO MAXIMISE BUDGET 2026 SUPPORT - EWON

KUALA LUMPUR, Oct 15 (Bernama) -- The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) is calling on Malaysia’s micro, small and medium enterprises (MSMEs), cooperatives and franchise operators to fully utilise the incentives and facilities under Budget 2026.

Minister Datuk Ewon Benedick noted that the budget, tabled by Prime Minister Datuk Seri Anwar Ibrahim last week, allocates at least RM50 billion in funding and financing guarantees for these businesses.

“If entrepreneurs and cooperatives don’t approach the government or ministry for access, these allocations remain just plans,” he told Bernama after appearing on Bernama TV’s Ruang Bicara programme.

He said the support includes not only financing, but also training, entrepreneurial guidance and market access to bolster local competitiveness.

Ewon added that the ministry’s work is driven by close collaboration between KUSKOP and its agencies to ensure each initiative delivers tangible outcomes on the ground.

“Success often begins with inspiration. If others can succeed, there’s no reason new entrepreneurs can’t. We share success stories of those helped by the ministry to motivate others,” he said.

He also highlighted the importance of technology and digitalisation, particularly cashless transactions via QR Pay, in empowering small traders and hawkers in Sabah and Sarawak, in line with the Small Traders and Hawkers Development Policy.

KUSKOP is also prioritising the growth of social enterprises and strengthening the cooperative movement through the National Cooperative Policy and related initiatives under the 13th Malaysia Plan (13MP).

As of 2024, Malaysia had boasted over 16,000 cooperatives with 7.2 million members and a turnover of RM68 billion, surpassing initial targets.

Ewon called on retirees, youth and aspiring entrepreneurs to take full advantage of KUSKOP’s programmes to build resilient, sustainable and innovative ventures.

-- BERNAMA