Small businesses are a cornerstone of a nation’s economy, and the government’s targeted efforts to uplift them, particularly those from the Indian community, have yielded remarkable results this year.
Through the National Entrepreneurial Group Economic Fund (Tekun), the government disbursed RM57.97 million to benefit 2,730 Indian entrepreneurs under two financing initiatives: the Spumi Goes Big and Tekun Spumi schemes.
Substantial Allocations with Remaining Opportunities
As of December 23, the programmes, which were allocated RM60 million for 2024, still had RM2.1 million available for disbursement.
The Senior Private Secretary to the Deputy Minister of Entrepreneur and Cooperatives Development, Datuk B. Anbumani, revealed that efforts are underway to ensure the remaining funds reach eligible recipients before the year ends.
“Many recipients are on the waiting list, and Tekun is actively identifying eligible recipients to ensure that the remaining funding is channelled before the end of the year,” Anbumani stated during a cheque presentation ceremony for Indian entrepreneurs.
Strengthening Support for Indian Entrepreneurs
The funding event is one of many initiatives aimed at empowering entrepreneurs from the Indian community and supporting their journey toward better income generation.
Representing the Deputy Minister, Datuk Seri R. Ramanan Ramakrishnan, Anbumani handed over the funding cheques to the recipients, underscoring the ministry’s commitment to Indian entrepreneurs’ development.
Looking ahead, Ramanan has initiated strategic discussions to address the RM30 million allocation for 2025, announced in the recent budget. Anbumani hinted at potential increases in funding.
“There may be additional (funding), but we need to wait for the allocation for next year. Datuk Seri R. Ramanan will hold a discussion session with Tekun management, as this RM30 million is not enough,” Anbumani said.
For the first time in history, a record allocation of RM60 million was dedicated to Indian entrepreneurs this year, setting a promising precedent.
“I can assure you that there will definitely be good news for the Tekun financing programmes for the Indian community next year,” Anbumani added.
Prime Minister’s Focus on Indian Community Initiatives
Additionally, Prime Minister Datuk Seri Anwar Ibrahim has directed the Entrepreneur and Cooperatives Development Ministry (KUSKOP) to enhance initiatives for the Indian community in the coming year.
This year alone, KUSKOP introduced a range of programmes tailored to the Indian community’s needs, including:
- The Prosperity, Empowerment and A New Normal (PENN) Programme for Indian women entrepreneurs.
- I-BAP (a special grant for small-sized Indian-owned companies).
- Vanakam Madani, another targeted initiative to promote economic growth among Indian entrepreneurs.
These concerted efforts demonstrate the government’s unwavering dedication to fostering entrepreneurial success within the Indian community, empowering them to make significant contributions to the economy.
Source: Bernama
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