Best Government Support in Malaysia
The Malaysian Government has several initiatives in place to help budding and existing entrepreneurs launch the business of their dreams too. Here are some of the available Government and industry financing options in Malaysia:
- Soft loan financing by the Malaysian Industrial Development Finance Berhad MIDF Agency (MIDF)
- Soft Loan for SMEs (SLSME)
- Soft Loan Schemes for Service Sector (SLSSS)
- Loans by the SME Bank in Malaysia
- Young Entrepreneur Fund (Services Sector)
- Tabung Usahawan Siswazah (TUS)
- Tabung Pembangunan Pengangkutan Awam (TPPA)
The MIDF is part of the Ministry of International Trade and Industry (MITI). MITI also manages the SME Corporation Malaysia (SME Corp. Malaysia) Agency. The available financing options by SME Corp include the following (applicable to all sectors):
- SME Emergency Fund (SMEEF)
- Bumiputera Enterprise Enhancement Programme (BEEP)
Malaysia’s Ministry of Finance also offers support and funding for eligible SMEs. The funding is offered through the following agencies:
- Malaysian Technology Development Corporation (MTDC) Agency
- Cradle Fund Sdn Bhd (Cradle) Agency
The other available financing option is the PRIHATIN Special Grant (Geran Khas PRIHATIN) (GKP). Unlike the other options, the GKP offers one-off funding. Only micro-enterprises that qualify will be eligible for the one-off payment of RM3,000. The purpose of this assistance is to ease the financial burden businesses experienced during the Covid-19.
