Micro Entrepreneur & Informal Business Operator Insurance

The Ministry of Entrepreneur Development and Cooperatives (Medac) is planning to introduce an insurance scheme for micro entrepreneurs and informal business operators in the B40 group nationwide. This insurance scheme would be implemented following concerns that most entrepreneurs do not have any protection or insurance to fall back on during challenging times like the Covid-19 pandemic.

This scheme is expected to benefit nearly 2.5 million micro and informal entrepreneurs nationwide, including 900,000 entrepreneurs who are registered with the ministry and related agencies.

In another development, Medac's recommendation to include micro entrepreneurs and informal business operators in its vaccination list has been accepted by the Science, Technology and Innovation Ministry (Mosti). The program mechanism has also been discussed with the Federal Territories Ministry and and Housing and Local Government Ministry.

Last month, Medac announced that it is working to ensure that micro entrepreneurs and informal business operators are included as vaccine recipients as the group deals directly with the public and should be considered as frontliners.