Deputy International Trade and Industry Minister Datuk Hamim Samuri has urged micro entrepreneurs to do away with traditional ways of operating their business as consumers today prefer to use the Internet.

"Entrepreneurs must realise that people now prefer cashless transactions via the Internet as it saves them time and cost," he told reporters after opening a micro entrepreneurship forum themed "Realise Your Business."

The forum was held in conjunction with the three-day Micro Entrepreneur Carnival organised by Small and Medium Enterprise Corporation Malaysia (SME Corp) which ends today.

Hamim said this year, SME Corp has implemented 154 programmes, as the central coordinating agency with an allocation of RM13.35 billion, to encourage the growth of SMEs.

Meanwhile, SME Corp Chief Executive Officer Datuk Hafsah Hashim said to date 36,677 micro entrepreneurs have benefited from non-cash transactions worth RM1.77 billion nationwide.

"Young people and youths, who tend to do their business transactions online, comprise 18.9% of the approximately 30 million people in the country, and should be given attention," she said.

On a related development, Hafsah said as of Oct 31 this year, assistance has been approved for 172 micro enterprises under the Enrichment and Enhancement Programme (E2).

"Applicants must undergo a diagnostic audit known as the Micro Enterprise Competitiveness Rating for Enhancement or Mcore to identify the strengths and weaknesses of each enterprise for improvement," she added. – Bernama, November 8, 2014.