BUKIT TENGAH, July 25 — TEKUN Nasional is targeting to produce 70,000 new entrepreneurs nationwide through enhanced training programs and streamlined micro-financing facilities.

Entrepreneur Development and Cooperatives Minister Datuk Seri Steven Sim Chee Keong said the agency continues to play a pivotal role in strengthening grassroots economic growth and guiding micro, small, and medium enterprises (MSMEs) toward financial sustainability.

He said proper governance and meticulous documentation are crucial foundation steps for any budding business.

“From day one of operations, entrepreneurs should open a dedicated business bank account rather than mixing funds with personal accounts. Maintaining bank statements and financial documentation in a disciplined manner is a mandatory basic practice — not just for corporate giants, but for MSMEs too,” Sim said during the opening of the TEKUN Nasional Basic Entrepreneurship Seminar at Icon City Hotel today.

Sim, who marked his sixth month heading the ministry, reiterated his commitment to an inclusive policy, pledging that assistance and resources will be extended equitably to all eligible Malaysians regardless of race.

To improve efficiency, Sim highlighted that TEKUN has fully digitized its process to accelerate funding approvals.

Under the digitized framework, online loan applications under RM20,000 are targeted for approval within 24 hours, while financing requests up to RM100,000 are aimed to be processed and approved within seven days.

He added that the end-to-end integration across TEKUN’s dedicated mobile application and web portal will allow business owners to secure funding with greater ease and speed.

Established in 1998 to empower local entrepreneurs, TEKUN Nasional has supported hundreds of thousands of business owners nationwide, benefiting thousands in Penang alone this year.

Sim urged eligible entrepreneurs and aspiring business owners to reach out to their nearest TEKUN office to explore available advisory services and financial assistance programs.