PETALING JAYA: Former Malaysian Armed Forces captain Norisham Kadmin’s business has weathered numerous challenges over the years.
In 2010, after more than a decade in military service, he ventured into the batik industry with just RM500 in capital.
The journey was far from smooth. Norisham’s business faced multiple challenges, including fires, floods and the Covid-19 pandemic, which almost brought operations to a standstill.
In 2023, during one of the company’s most challenging periods, the National Entrepreneurial Group Economic Fund (Tekun Nasional) provided RM100,000 in financing, helping Norisham sustain the business he had spent more than a decade building.
“My business was at the point of needing CPR. It was then that Tekun came and helped revive it.
“Tekun did not only give us financing. They took an interest in our situation and invited us to enrol in courses and visit expos. They always help entrepreneurs grow,” the managing director of Batik House Sdn Bhd told FMT.
An agency under the entrepreneur development and cooperatives ministry (Kuskop), Tekun provides microfinancing and development support to entrepreneurs, and Norisham's story is one of its many successes.
Two other entrepreneurs also credited the agency with helping them navigate setbacks, particularly during periods when they struggled to secure funding from other financial institutions.
Capital as a point of change
Vision Automotive Technology Sdn Bhd managing director R Samanan’s dream of starting his own workshop came from his father, who wanted to see him succeed in the automotive industry.
Samanan established Vision Automotive in 2003 and secured RM50,000 in financing from Tekun a decade later, helping to drive the expansion of his company’s operations.
In 2017, he received another RM80,000 in financing, which he used to purchase business premises.
“That working capital was what changed the course of our company. From there, we grew little by little,” he said.
Tekun, the ‘university of life’
For Neuronworks International Serantau Bhd founder and CEO Rizal Rashid, Tekun holds special meaning, having been employed by the agency before transitioning to entrepreneurship.
Relocating from Kota Kinabalu to Peninsular Malaysia more than 26 years ago, he was inspired to venture into business after witnessing firsthand how Tekun helped entrepreneurs grow and expand their ventures.
Rizal set up Neuronworks in 2015, expanding his career as a motivation and communications expert. He received RM50,000 in financing, followed by another RM100,000 based on his strong repayment record.
He used the financing to set up a training facility and expand his company’s operations, successfully training more than 70,000 people so far, including entrepreneurs, professionals, civil servants, influencers and politicians.
“Tekun has been my ‘university of life’. I saw many entrepreneurs benefit from their help, and wanted to become one of them myself,” he said.
Documents at one’s fingertips
All three entrepreneurs welcomed measures introduced by Kuskop under its minister Steven Sim to improve access to financing for business owners.
They said the initiatives, including the launch of the Tekun Online Application System this year, have made it easier for entrepreneurs to apply for financing.
Thanks to enhancements to its approval process, applications for microfinancing of up to RM20,000 can now be approved within 24 hours, while those for up to RM100,000 may be approved within seven days of full document submission.
Norisham described the improvements as a positive step towards speeding up the
financing process for entrepreneurs.
“I thought it was very good, because it has reduced bureaucracy. This faster approval system will make things easier for entrepreneurs.
“More importantly, Tekun continues to be with us — through courses, expos and guidance,” he said.
Samanan said the current application process is much simpler than it was when he applied for financing more than a decade ago. “Back then, everything was manual.
The documents were thick. Now everything is online,” he said.
Besides easing the application process, the government has stepped up support for entrepreneurs by allocating RM1 billion in financing to Bumiputera entrepreneurs this year.
The allocation for the Indian Community Entrepreneur Development Scheme (Spumi) was also increased from RM75 million to RM120 million this year.
Partners in entrepreneur development
Norisham, Samanan and Rizal’s stories show that while every business faces different challenges, access to financing and appropriate guidance can help entrepreneurs sustain and expand their operations.
In line with reforms introduced under Sim's leadership, Tekun continues to strengthen its role as more than just a financing provider, supporting entrepreneur development through training, mentorship and innovations such as its digital application system.
For Rizal, the agency’s continued support has boosted entrepreneurs’ confidence.
“Tekun does not just provide financing. They care for entrepreneur development and give us confidence to move further,” he said.
Expanded financing and easier processes
Since Sim took over Kuskop in December last year, Tekun has introduced a raft of reforms to speed up application processing and expand access to financing for more microentrepreneurs.
In August 2026, the agency launched its Tekun Online Application System 2026, allowing entrepreneurs to apply for financing entirely online.
Processing times have also been significantly reduced, with approval periods for financing of up to RM100,000 substantially shortened. As of July 2026, 74.5% of nearly 31,000 approved financing applications were processed within one to five days.
Allocations have also been increased substantially.
Funding for Bumiputera entrepreneurs rose from RM300 million to RM500 million in 2025, before being doubled to RM1 billion this year.
Meanwhile, financing for Indian entrepreneurs under Spumi has seen an increase, from RM75 million to RM120 million between 2025 and 2026.
Financing support has also been expanded to help small businesses prepare for major
festive seasons.
The BARAKAT Ramadan scheme was introduced with RM50 million in funding to assist traders ahead of Ramadan and Hari Raya Aidilfitri, while BERKAT Deepavali provides working capital to Indian entrepreneurs preparing for the festival.