KUALA LUMPUR: The Enterprise 50 (E50) Award 2024, which recognises the best achievements of micro, small and medium enterprises (MSMEs) in business, is back with a search for the top 50 local MSMEs in Malaysia.

The biennial programme is also an evaluation mechanism for MSMEs that can drive change towards increased competitiveness as well as their contribution to the national economy.

Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick (pix) said this award is also aimed at local MSMEs producing quality products and services not only for the local market but also for the international market.

“We open the widest participation to all MSMEs...to all levels of society regardless of whether rural or urban, women, youth and so on,“ he told reporters after launching the E50 Award 2024 today.

Also present at the event were Deputy Entrepreneur Development and Cooperatives Minister Datuk R. Ramanan and SME Corporation Malaysia (SME Corp Malaysia) chairman Tan Sri Bernard Giluk Dompok.

Ewon said the programme, organised by SME Corp Malaysia, which has been held since 1997, also introduces a new category which is the E50 Best ESG Practice Award in addition to the existing categories which are the E50 Best Female Entrepreneur Award and E50 Best Export Entrepreneur Award.

“We are introducing this new award because we want MSME companies to apply environmental, social and governance (ESG) practices in their businesses,“ he said.

In the meantime, Ewon said since the award was introduced, a total of 2,225 MSMEs have participated in the programme and 763 companies have been recipients of this E50 award.

“From this number (763), a total of 67 winners have been successfully listed in the capital market,“ he also said.

This year’s applications for the E50 Award 2024 will be implemented entirely online through the MyBPI System, and nominations will be open until June 30, 2024. The E50 Award 2024 is expected to be held in October this year. -Bernama