KUSKOP Launches PowerUp 10k With Up to RM15bil to Scale 10,000 SMEs

Malaysia's Ministry of Entrepreneur Development and Cooperatives (KUSKOP) has introduced a new initiative called PowerUp 10k, offering up to RM15 billion in financing to help 10,000 micro, small and medium enterprises (MSMEs) grow.

Minister Steven Sim Chee Keong announced the plan on 15 October while officiating the inaugural E50 Export Conference organised by SME Corp Malaysia in Kuala Lumpur, according to Business Today.

Scaling up is the priority

Sim said scaling up MSMEs was among the ministry's priorities this year. Malaysia has many small firms, but relatively few grow into larger companies that export, invest in technology and create higher-paying jobs. PowerUp 10k aims to help more businesses make that leap.

The initiative sits alongside Budget 2027, which Business Today reported provides RM67.9 billion in support for MSMEs through financing, guarantee schemes, market expansion, skills development, digitalisation and automation. The government has also designated 2027 as Malaysia's MSME Year.

What Budget 2027 offers SMEs

Based on the report, some of the Budget 2027 allocations mentioned include:

• RM32 billion in financing guarantees through the Business Financing Guarantee Company (SJPP) and Credit Guarantee Corporation Malaysia (CGC)
• RM1.06 billion for international market expansion
• RM3.3 billion for skills development
• RM223 million for digital adoption, including artificial intelligence and business automation

We covered broader SME financing measures and expert views in our earlier Budget 2027 SME report.

Key takeaway: the money is there, but SMEs need a clear growth plan to make the most of financing. Funding works best when it backs a specific expansion, not day-to-day survival.

Exports and digital push

The E50 Export Conference brought together nearly 300 SME participants to discuss market trends, export regulations and readiness. SME Corp chief executive Rizal Nainy said 66 market access programmes had been implemented this year with a total allocation of RM293.98 million.

During the event, SME Corp exchanged memoranda of understanding with Uzbekistan's Entrepreneurship Development Company, Lazada Malaysia and the Construction Industry Development Board. A day earlier, SME Corp held a digital and AI scaling seminar under its PRESTIGE 2.0 programme for about 300 SMEs.

What it means for Malaysians

For business owners, PowerUp 10k and the Budget 2027 measures could open doors, but preparation matters:

1. Know your numbers. Lenders and agencies look for clear financial records, cash flow and a credible growth plan.
2. Pick a growth lever. Whether it is exports, automation, a new outlet or digital sales, financing should fund something that increases revenue or productivity.
3. Explore guarantees. SJPP and CGC guarantees can help firms that lack collateral.
4. Watch for eligibility details. Specific criteria, application channels and timelines for PowerUp 10k will matter. Check official KUSKOP and SME Corp channels.

For workers, growing SMEs can mean more stable jobs and better pay, since larger and more productive firms typically offer more opportunities.

What to watch

Details on how PowerUp 10k will be rolled out, which agencies and banks will be involved, and how businesses can apply are the next things to look for. With 2027 named as MSME Year, more programmes and announcements are likely in the coming months.

For SME owners, now is a good time to prepare documents and plans so they are ready when applications open.