During the presentation of the 2024 Budget, Prime Minister Datuk Seri Anwar Ibrahim urged PMKS (micro, small, medium enterprises) entrepreneurs to immediately adapt to technology and digitize their products and services to penetrate a wider market. The government is seen to intensify efforts to encourage PMKS to increase the level of competitiveness through the transition of business models through automation and digitization.
To help them, he has announced several grants and incentives to facilitate the process of upgrading their business. First, RM100 million will be provided to provide grants
digitization up to 5,000 ringgit for the benefit of over 20 thousand PMKS entrepreneurs. This grant can be used to upgrade sales, inventory and digital accounting systems.
Second, a loan fund of RM900 million under Bank Negara Malaysia will be provided for
encourage SME companies to increase business productivity through automation and digitization.
RM40 million will also be provided to implement the Shop Malaysia Online Program to encourage small traders, especially in the food sector, to do business from home.
The Digital Economy Center in each DUN will continue to be empowered to support small entrepreneurs selling products online with an allocation of RM25 million.