The Ministry of Entrepreneur and Cooperatives Development has launched a new programme called the Empowering Indian Entrepreneurs (EIP) initiative, aimed to help Indian businesses owners across Malaysia, to enhance their management capabilities and long term sustainability.
Deputy Entrepreneur and Cooperatives Development Minister YB Datuk Seri Ramanan announced that the initiative, introduced for the first time, offers free business management training in collaboration with TEKUN Nasional. The programme is targeted at Indian entrepreneurs who have received financing under TEKUN’s Indian Community Entrepreneur Financing Scheme (SPUMI)
“This is part of the MADANI government’s commitment to support the Indian community by ensuring their businesses are managed effectively and sustainably”, said YB Datuk Ramanan.
The training will roll out nationwide, beginning with participants from Selangor and Kuala Lumpur. Modules will include business and audit management, social media strategies, and effective financial planning, crucial areas that can elevate small business to the next level.
Datuk Ramanan stressed the importance of wise fund usage stating that when a business is well managed it will lead to long-term benefits, allowing more Indian entrepreneurs to access these schemes in the future.
As of the end of March, TEKUN Nasional has disbursed RM8.22 Mil to more than 355 Indian entrepreneurs under the SPUMI and SPUMI Goes Big programmes. For 2024, the government has allocated RM100 mil for SPUMI, the highest amount since the scheme was first introduced in 2007.
The EIP initiative is just one of several government efforts aimed at empowering the Indian business community. Other recent programmes include the RM50 million Vanigham Financing Scheme (VFS) via SME Bank, the Bank Rakyat Indian Entrepreneur Financing-i (BRIEF-i) and the Indian Business Accelerator Programme (I-BAP) which focuses on the growth of small business owners
“In just three months, we’ve rolled out five initiatives worth RM235 Mil. This reflects the MADANI government’s firm commitment under the leadership of Prime Minister Datuk Seri Anwar Ibrahim to uplift the socio-economic standing of the Indian community in an inclusive and meaningful way”.
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