| | SEPTEMBER 20224The Micro, Small, and Medium Enterprises (MSME) segment is a silent strength of almost all economies in the world. But more often than not, MSMEs are underserved and unserved across parameters, including financial and technology assistance, especially considering the sector's significant contribution toward GDP. The case is no different in Malaysia. In the wake of the pandemic and the Russia-Ukraine conflict, SMEs are struggling to keep their neck above water. The Malaysian government, however, recognizes this crater and the future implications such a scenario could trigger.The Malaysian government has initiated/enhanced several schemes that provide funding and financial support to SMEs to help them grow and expand and provide relief and support to recovering SMEs that suffered from the pandemic. Targeted Relief and Recovery Facility (TRRF) by Bank Negara Malaysia, the country's central bank, is one among them. This funding was included in the government's 2022 budget, and Bank Negara Malaysia announced that they would increase the allocation under their fund by RM4.5 billion. The TRRF scheme was upsized to RM8 billion, with a financing limit of RM500,000 per SME. You are eligible for this scheme if you have a Malaysian SME affected by COVID-19 in industries such as Personal Services, Food & Beverage, Social Work, Human Health, Arts & Entertainment, Business Services, and Wholesale & Retail Trade.Automation & Digital Guarantee Scheme (ADGS), a financing guarantee scheme that Bank Negara Malaysia introduced in 2020 to encourage SMEs to automate processes and digitalize their operations, is another scheme that can help you get back on your feet. The elaborate Working Capital Guarantee Scheme (WCGS) also opens a wide horizon of opportunities to set your SME business on the right course. Sujith VasudevanManaging Editoreditor@ceoinsightsindia.comSMEs + Support = Economic GrowthEditorial Vol 04 · Issue 5 - 1 · September, 2022 Publisher Alok Chaturvedi Managing Editor Sujith Vasudevan Manager - DesignPrabhu Dutta A.R.N RayNoidaRohit Raghubanshi Garima Anandadvertise@ceoinsightsindia.comEditorial queries editor@ceoinsightsindia.comTo subscribeVisit www.ceoinsightsindia.com/subscribe/ or send emailto subscription@ceoinsightsindia.comMagazine Price is Rs.150 per issue.Editor Alok ChaturvediPrinted and Published By Alok Chaturvedi on behalf of Info Connect Web Technolo-gies India Pvt. Ltd., and Printed at Precision Fototype Services at Sri Sabari Shopping Complex, 24 Residency Road Bangalore-560025 and Published At No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2022 Info Connect Web Technologies India Pvt. Ltd., All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher. Senior Designer Girish M AsokanVP - Sales & Marketing Amrit SinghCirculation Manager Magendran Perumal Editorial Keerthana Kantharaj Sthitaprajnya Panigrahi Roopalatha H Tanuja Akkanavar Shirly Pabisha T
< Page 3 | Page 5 >