Women’s involvement in entrepreneurship still lags behind – Nancy

KUALA LUMPUR: Women’s involvement in the field of entrepreneurship is still lagging behind, despite the fact that the number of women in the Malaysian population is significant, said Women, Family, and Community Development Minister Datuk Seri Nancy Shukri.

She said that according to the Department of Statistics Malaysia (DOSM) 2016 economic census, of the 920,624 companies registered in the country, only 20.3 percent, or 187,265 companies, were owned by women.

“Our focus is clear, which is to reach 30 percent of small and medium-sized enterprises (SMEs) owned by women. To achieve this number, we need to continue special financing programs for women by centering that group in the design process to give them more access to the capital needed in business.

“Therefore, the government is always committed to providing funding to women who want to start their own businesses,” he said in a speech at the launch of Strivers’ Hub: Bridging Digital Opportunities here yesterday.

Strivers’ Hub is a new one-stop digital portal designed to expand growth opportunities for micro, small, and medium enterprises (MSMEs) in Malaysia, with a focus on women-owned or led enterprises, offering digital skills enhancement programs, mentoring opportunities, and key resources to access financial and credit schemes.

The initiative is a collaborative effort between the Mastercard Center for Inclusive Growth, the Asia Foundation, and the Ministry of Women, Family, and Community Development (KPWKM) through the Women’s Development Department.

Meanwhile, in a press conference, Nancy announced that KPWKM proposed the establishment of the Women’s Academy, an initiative aimed at increasing the economic empowerment of the group throughout the country.

She said the academy, which is one of the ministry’s wishes in Budget 2025, will function as a central hub for women to access resources, training, and support to increase financial independence and contribute to family and society.

“Everything related to the economy or anything that women want to do for the benefit of their families can be focused on in this academy.

“It will also ensure that we have a special place to run related programs,” he said, adding that the academy would also be a support system for female entrepreneurs.