KAJANG, – The Ministry of Entrepreneurship and Cooperative Development (KUSKOP) successfully channeled funding amounting to RM10.7 billion to nearly 300,000 entrepreneurs for the period from January to September this year.
Its minister, Steven Sim Chee Keong, said the achievement exceeded two-thirds of the total target of RM15 billion allocated for this year.
Of this amount, a total of RM3.14 billion was channeled through micro credit financing that benefited approximately 200,000 entrepreneurs, including hawkers, small traders and retailers across the country.
“So to avoid this problem, if the application for financing is below RM20,000, which is on average small traders, our hawkers, our shopkeepers, our retailers, then we are under KUSKOP, the agencies, have to give an answer not 7 days, not 5 days, not 3 days. Answer within 24 hours,” he said.
He said this while speaking at the Closing Ceremony of the 2026 National Level Hawkers and Small Traders Day Carnival (HPPK) at the Kajang Stadium, which was officiated by the Prime Minister, Datuk Seri Anwar Ibrahim.
He added that this proactive measure is important to help hawkers and small traders who need immediate working capital, thus preventing them from turning to illegal ceti or ah long loans.
In addition, he said, in order to facilitate access to financing, especially for traders in rural areas, TEKUN Nasional for the first time in its 30 years of establishment implemented a fully online application system starting last August.
In other developments, Steven Sim urged the local business community to be ready to take advantage of the economic overflow from the government’s fund injection through Budget 2027 which is expected to start early next year.
He said the allocation of more than RM1 billion for Early School Assistance (BAP), in addition to RM16 billion through Rahmah Basic Contributions (SARA) and Rahmah Cash Contributions (STR) to more than 13 million people, is expected to flow back into the domestic economy.
The allocation flow is expected to stimulate business activities, especially among small and medium enterprises (SMEs).