Budget 2024: Key Highlights for SMEs & Microentrepreneurs

In the words of Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim during the tabling of Budget 2024, Malaysia is faced with a "post-normal era that is characterised by chaos, complexity, and, contradiction”. This sentiment holds true for many business owners, whose situations have been riddled with uncertainties due to rising prices of raw materials and manpower shortages, in a post-pandemic global landscape.

Thus it's no surprise that business owners have been anticipating how Budget 2024 can help them regain a competitive edge required to grow in an increasingly competitive environment. Along with various initiatives aimed at helping the everyday Malaysian, there are also multiple plans and assistance programmes targeted at micro, small, and medium enterprises (MSMEs) under the latest national budget.

Here’s a list of facilities proposed by the prime minister under the second Belanjawan Madani, which MSMEs and businesses can anticipate for 2024.

Through tax reliefs, financing, grants, and other initiatives, Budget 2024 aims to kickstart Malaysia’s economy as a means to futureproof the nation. Whether your business plans involve expanding with the help of financing or growing your business online, your goals may be supported by Budget 2024.

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