KUALA LUMPUR – Entrepreneur and Cooperatives Development Ministry (KUSKOP), through SME Corporation Malaysia, has channeled grants totalling RM2.96 million to 48 small Indian-owned enterprises under the Business Accelerator Programme for Indian Small Businesss (I-BAP) to date.
Deputy Minister Datuk Seri R. Ramanan said the programme, which was previously only open to businesses with annual sales exceeding RM300,000, is now available to all small entrepreneurs without any minimum sales requirement.
“Previously, we set a sales turnover requirement of RM300,000 annually to apply. However, due to high demand, we have amended this requirement so that all small entrepreneurs can apply, whether their annual sales are RM300,000, RM200,000, or RM100,000,” he told the media after a meet-and-greet and I-BAP letter of offer presentation here today.
He also announced that applications for the programme will reopen online on April 7, 2025.
“To expedite the distribution of grants, priority will be given to projects that have been completed, and payments to suppliers will be made starting June 1, 2024,” he added.
The SME Hub Open Day also featured various engagement sessions, including advisory clinics and business matching opportunities, offering entrepreneurs a platform to connect with relevant agencies and industry experts.
This initiative is part of the government’s broader efforts to empower small and medium-sized enterprises (SMEs) and drive economic growth, particularly among minority-owned businesses. – March 19, 2025