#Budget2023: Govt To Support Women & Youth-Owned Businesses With RM300 Million Loans
The RM1.7 billion loan allocation is designated for micro, women-owned, youth-owned, and smaller business owners.
By Jasmine Chea — 24 Feb 2023, 05:11 PM
Finance Minister Datuk Seri Datuk Seri Anwar Ibrahim announced that the government will provide RM300 million in loans for small businesses owned by women and youth
During the tabling of Budget 2023 today, 24 February, Anwar announced that the effort is part of the RM1.7 billion loans set aside for small businesses.
The loans will be provided by Bank Negara Malaysia, Bank Simpanan Nasional (BSN), and TEKUN.
The Prime Minister also said that the government will set aside RM50 million to build and upgrade 3,000 stalls and kiosks for small business owners.
Meanwhile, for small and medium-sized enterprises (SMEs), tax rates for the first RM150 million are reduced from 17% to 15%. This reduced tax rate will allow business owners to save RM3,000 each.
