KUALA LUMPUR, 15 OCTOBER 2026 – The PowerUp 10k initiative forms part of the government’s broader support for SMEs, with Budget 2027 providing RM67.9 billion for financing, market access, skills development and digitalisation.
The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has introduced the PowerUp 10k initiative, with up to RM15 billion in financing to support the growth and expansion of 10,000 micro, small and medium enterprises (MSMEs).
Minister of Entrepreneur and Cooperatives Development Steven Sim Chee Keong highlighted the scaling up of MSMEs as one of KUSKOP’s key priorities for the year when officiating the E50 Export Conference, organised by SME Corp. Malaysia, a KUSKOP agency, in Kuala Lumpur on 15 October 2026.
The initiative comes as the government steps up efforts to strengthen Malaysian businesses, with 2027 designated as Malaysia’s Year of MSMEs under the Budget 2027 announced by Prime Minister Anwar Ibrahim.
Budget 2027 Provides RM67.9 Billion in MSME Support
Budget 2027 provides RM67.9 billion in comprehensive support for MSMEs, covering access to financing and guarantee schemes, market expansion, human capital development, digitalisation and automation.
Key allocations include RM32 billion in financing guarantees provided through Syarikat Jaminan Pembiayaan Perniagaan (SJPP) and Credit Guarantee Corporation Malaysia (CGC), alongside RM1.06 billion dedicated to international market expansion.
A further RM3.3 billion has been allocated to encourage skills development, while RM223 million will support digital adoption, including artificial intelligence (AI) and business automation.
These measures aim to help Malaysian businesses strengthen their capabilities, improve productivity and access new domestic and international markets.
SME Corp. Malaysia Expands Market Access Programmes
SME Corp. Malaysia chief executive officer Rizal bin Dato’ Nainy, who also chairs the E50 programme organising committee, said 66 development programmes focused on market access had been implemented this year, involving a total allocation of RM293.98 million.
These included the PKS@kses initiative under SME Corp. Malaysia, which provides financing and capacity-building support to strengthen small and medium enterprises (SMEs).
The programmes are designed to help businesses broaden their market reach, improve export readiness and gain greater access to both domestic and international markets.
Three MoUs to Strengthen SME Development
During the opening ceremony, Sim witnessed the exchange of three memoranda of understanding (MoUs) between SME Corp. Malaysia and three organisations: Uzbekistan’s Entrepreneurship Development Company (EDC), Lazada Malaysia and the Construction Industry Development Board Malaysia (CIDB).
The agreements relate to MSME development and reflect efforts to strengthen cooperation in supporting business growth.
The E50 Export Conference was held for the first time alongside this year’s Enterprise 50 (E50) Awards programme. It provided a platform for SMEs, particularly E50 Award nominees and alumni, to explore opportunities for international expansion ahead of the awards ceremony on 16 October.
Digitalisation and AI Drive Business Expansion
Beyond exports, digitalisation remains a key priority in helping SMEs scale their operations.
On 14 October 2026, SME Corp. Malaysia organised the Digital and AI Scaling-Up Seminar for SMEs under the PRESTIGE 2.0: Global Value Chain (GVC) programme.
Held under the theme “Tech Up, Scale Up”, the seminar aimed to help businesses grow through the adoption of digital technologies, automation and other technological solutions.
The event benefited approximately 300 SMEs, particularly those operating in high-growth, high-value (HGHV) sectors.
By encouraging businesses to adopt digital tools and automation, the programme seeks to strengthen their capabilities and support their participation in increasingly competitive markets.
E50 Export Conference Connects SMEs with Global Opportunities
The inaugural E50 Export Conference attracted nearly 300 participants from SME companies and featured prominent speakers, including former Asia-Pacific Economic Cooperation (APEC) Secretariat executive director Tan Sri Datuk Dr Rebecca Fatima Sta Maria.
Panellists also included representatives from the Malaysia External Trade Development Corporation (MATRADE) and the Royal Malaysian Customs Department.
The conference provided participants with insights into market trends, export regulations and export readiness, while creating opportunities to build business networks and explore entry into international markets.
Through initiatives such as PowerUp 10k, export development programmes and digital adoption support, KUSKOP and SME Corp. Malaysia aim to strengthen Malaysian SMEs and help more businesses expand into global value chains.
