14 April 2009
More than 100 grants, soft loans for SMES
THERE are more than 100 grants and soft loans available to small- and medium-sized enterprises (SMEs) to tap into, to develop and grow their businesses.
SMEs have access to many aspects of funding. The bulk of the recent RM60 billion second stimulus package is also to support and help SMEs.
The second stimulus package also highlighted the importance of SMEs in the economic development of the country, with a 32 per cent contribution to the gross domestic product (GDP), said Deputy Finance Minister Datuk Kong Cho Ha at a forum last month, who has now moved to a new Ministry after a cabinet reshuffle.
The forum is an initiative under the MIRC four-year SME Development Blueprint which targets entrepreneurs, small office home office operators, sole proprietors and SMEs in the services, retail and manufacturing sectors.
Various financial institutions were featured at the forum to share the latest updates on grants and financing loans as well as to provide service and advice to SMEs in the face of the current challenging business environment.
Among them were Bank Negara Malaysia, EON Bank, EXIM Bank, the Small and Medium Industry Development Corp, Cradle Fund Sdn Bhd, Malaysia Debt Ventures Bhd, Credit Guarantee Corp and Malaysian Industrial Development Finance Bhd.
Kong said the government was committed to stimulating the domestic demand in order to support the economy growth, adding that themanufacturing sector was the most affected due to the reduced global demand.
The forum is held annually to help SMEs gain access to funding and the MIRC has teamed up with various financial institutions to create a one-stop centre for this purpose.