TUBE X participants encouraged to ensure sustainable businesses

12 May 2024

By AVV

KOTA KINABALU: This year, the TUBE-X Programme focuses on encouraging Bumiputera youth graduates with skills certificates in Technical and Vocational Education & Training (TVET) and Technopreneurship to establish businesses offering technical services to the local community.

The Minister of Entrepreneur Development and Cooperative (MEDC) Datuk Ewon Benedick, stated that the TUBE programme is popular among Bumiputera youth, particularly in Sabah, as it serves as a key initiative for aspiring entrepreneurs to kickstart their careers and establish their own businesses.

"Until December 2023, a total of 7,738 TUBE participants have taken part, with Sabah having the highest number of participants in the TUBE programme, totaling 1,444 (18.66%). The impact of this high participation has created 2,039 job opportunities in Sabah, with a total accumulated business sales value of RM20.65 million," he shared.

Speaking during the closing ceremony of the TUBE X programme he said that in 2024, Sabah has been allocated 200 spots for Bumiputera youth to participate in the Programme.

"The number of participants in Sabah is the highest compared to other states. It is my hope that all TUBE-X participants this year and TUBE alumni will continue to report the status of their businesses to SME Corporation Malaysia after completing the programme," he stressed.

Throughout the 7-day training, the entrepreneurship module implemented emphasises on good business management and ethical practices, he said adding that this included Financial Management, Customer Relations, Marketing, Branding and Packaging, Human Resources and Leadership, as well as the importance of Creativity and Innovation in business.

This included the use of technology and digitalisation in business operations. As usual the business status of participants will be monitored for 12 months after completing the programme to ensure that participants continue to engage in business and receive appropriate advice to make their businesses sustainable.

As a continuation to budding entrepreneurs, SME Corporation Malaysia also provided grants under the Bumiputera Enterprise Enhancement Programme (BEEP) of up to RM500,000 to further enhance the productivity and capabilities of established businesses.

As of April 30, 2024, a total of 868 applications have been approved, amounting to RM105.11 million since the programme's inception in 2021.

Out of this total, 32 SMEs from Sabah have been granted a total of RM5.30 million. Additionally, 74 micro-entrepreneurs from Sabah have received grant approvals totaling RM5.87 million under the Micro Madani Programme.

Young Bumiputera entrepreneurs can also increase their business working capital through easy financing (soft loans) digitally via the Tunas-i Program managed by SME Corporation Malaysia in collaboration with Funding Societies (Modalku Venture Sdn Bhd) to ensure business sustainability. Loans up to RM100,000.00 are provided with a profit rate of 2% per year, and the application approval process will be completed within 48 hours.

He lauded SME Corporation Malaysia and strategic partners for organising the TUBE-X programme nationwide in 2024 and expressed hope to attract more interest from Bumiputera youth to seize entrepreneurial opportunities, becoming a strong asset for the country's economic development.

He also commended the Signing Ceremony of the Memorandum of Understanding (MoU) between SME Corporation Malaysia and Universiti Malaysia Sabah (UMS) as with this strategic agreement in effect, an increased number of entrepreneur development programmes could be implemented in Sabah, particularly focusing on young Bumiputera entrepreneurs.