At the end of the year around September or October, the Minister of Finance will present the Malaysian Financial report, as well as specific expenditure policies (fiscal) that the Government intends to implement the following year.
The Prime Minister of Malaysia, Datuk Seri Najib Tun Razak in Dewan Rakyat on 10 October 2014 already announced Malaysian budget 2015 and will be implementing a number of significant changes in the country. The purpose of the budget is widely to address the large fiscal deficit in the country, shrinking the current account surplus and growing debt pile.
This report is focused on the enterprise and business aspects as well as not to forget the two aspects may be very important and affect the entrepreneurship industry in the country. In action-13 budget 2015, Datuk Seri Najib Tun Razak said that he will develop small and medium enterprises. He said that contributions of SME to GDP stood at 33 per cent and he is targeting an increase to 41 per cent by 2020.
Therefore, for encouraging the participation of SMEs in the economic activities, the Government proposes the implementation of SME Investment Partner, where SME will be given assistance in the form of loans, equity or both, especially at the start up. Initial funds of 375 million dollars will be provided for a period of five years, of which 250 million dollars was from the SME Bank and another 125 million dollars from private investors. Under SME Corp, the 10 million dollars will be allocated for Business Accelerator Programme.
Datuk Seri Najib Tun Razak also said that the Group’s Economic Ventures Fund (TEKUN) has been providing a loan of 3.1 billion dollars to nearly 300 thousand people borrowers with financing limit between 1000 to 100 thousand dollars. In 2015, TEKUN will provide additional funding of 500 million dollars distributed as follows: 1.
350 million dollars allocated to Bumiputera entrepreneurs that almost 3 thousand people new borrowers; 2.
50 million dollars...
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