KOTA KINABALU - Many hawkers and petty traders in Sabah have registered their business for the 1Malaysia National Hawkers and Petty Traders (P1MPIN) insurance scheme.
As of Sept 30, 11,482 people registered their business to receive free insurance coverage implemented by the government since the beginning of this year.
Chief Minister Datuk Seri Musa Aman hoped more hawkers would grab the opportunity as he believed there were still many who had not done so.
To assist night market traders, he said the government would establish an entrepreneurs scheme with a RM100 million (S$39 million) fund.
"The fund will be operated under Bank Simpanan Nasional and traders could apply for a maximum loan of RM30,000 at an interest of four per cent.
"This is aimed at covering the cost of operating the business, such as working capital, site rental, raw materials and equipment," he said in his speech, delivered by state Local Government and Housing Minister Datuk Hajiji Mohd Noor at the launch of the state-level Hawkers and Petty Traders Day here, yesterday.
He said the government would continue to boost bumiputera involvement in business and entrepreneurship to help generate more income.
He advised new entrepreneurs to seek advice from experienced business practitioners to gain more knowledge of their trade.
"Hawkers and petty traders should not let their weaknesses become a hindrance but should be courageous and grab every opportunity available to them."