KUALA LUMPUR:   A total of 110 micro entrepreneurs recently graduated from SME Corp's GrowBiz programme, where they received guidance on upgrading and increasing their competitiveness.

The programme's 2023/2024 graduation ceremony was held on Thursday and attended by Entrepreneur Development and Cooperatives Ministry secretary-general Datuk Seri Suriani Ahmad.

The GrowBiz programme is an initiative under the Micro Entrepreneur Business Development Programme  (BizME) implemented by SME Corp, which is an agency under the ministry.

The programme aims to guide entrepreneurs in upgrading their businesses from micro to small sized businesses, and  increase knowledge, efficiency and business productivity.

It was introduced in 2021 and this is the second group of graduates.

GrowBiz uses a hand holding approach using elements of training, coaching and monitoring to guide micro enterprises to take their business to the next level.

The programme is facilitated by SME Corp's partner Entrepreneur Culture Incorporated Sdn Bhd with support from Bank Simpanan Malaysia, The National Entrepreneurial Group Economic Fund (Tekun Nasional) and the Perak State Agriculture Development Corporation.

In her speech, Suriani said entrepreneurs must be responsive to policy changes and the latest trends in the business landscape.

She also stressed on the  importance of digital transformation and Environmental, Social and Governance practices as well as prudent financial and risk management.

She also encouraged entrepreneurs to seize export opportunities and take advantage of programmes and initiatives provided by the government.

"This year, as many as 275 programmes are being offered by various ministries and agencies to Micro, Small and Medium Enterprises (MSMEs) with an allocation of RM15.1 billion and expected to benefit 479,758 MSMEs," she added.

SME Corp chief executive officer Rizal Nainy said the pilot GrowBiz programme has had a positive impact on its participants.

"Based on research, it was found that after six months, all 50 participants showed an increase in sales. 

"Additionally, 66 per cent of participants successfully upgraded their business from micro to small while 58 per cent of participants increased the number of employees, creating 139 new jobs.

"There were also some participants who have increased the number of outlets and business partners and successfully exported products or services to countries like China, Brunei, Vietnam and the Philippines," he said.

https://www.nst.com.my/news/nation/2024/07/1082510/sme-corps-growbiz-programme-guides-110-micro-entrepreneurs