Its minister, Steven Sim, said the government had allocated RM60 billion in funds for MSMEs, including RM50 billion under the 2026 budget and an additional RM10 billion announced last month to help companies affected by the Middle East conflict.

However, Sim said small businesses struggled to find the right places to apply for these grants because they are spread across various ministries and up to 60 government agencies.

“Some of the feedback we received is that (small businesses) have no idea where to look for (these funds), the available programmes and policies,” he told reporters after attending a townhall held by the Penang chapter of the Federation of Malaysian Manufacturing today.

“Therefore, the entrepreneur and cooperatives development ministry took the initiative to create an online one-stop centre where all information on funds and training for MSMEs can be accessed,” he said.

Sim said he wants to first consolidate information under his ministry while providing links to other relevant agencies in the portal, which is at the design stage.