The Ministry of Entrepreneur Development and Cooperatives aims to use school cooperatives as practical business schools to instil entrepreneurship in students

BUKIT MERTAJAM: The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) plans to empower school cooperatives as early-stage ‘business schools’.

Minister Steven Sim Chee Keong said the initiative aims to nurture an entrepreneurial culture among students by providing practical business exposure.

He will hold further discussions with the Malaysia Cooperative Societies Commission (SKM) to realise the plan. Sim wants school co-ops to become platforms for students to learn business fundamentals.

This includes managing shares, conducting annual general meetings and developing business strategies. He also proposed rewarding outstanding students with shareholdings as an incentive.

This would be in addition to existing awards like trophies or medals. Sim said the cooperative movement should be guided by three core values.

These are strengthening the economy, safeguarding public welfare and fostering unity. He made the remarks after the pre-launch of a Cooperative Self Collection Point initiative.

The initiative with Shopee was launched at Koperasi Politeknik Seberang Perai Bhd (KopPSP). He also announced Angkasa Mart in Tasek Gelugor as a new Shopee self-collection point.

Sim said the initiative aligns with the rapid growth of post-pandemic online shopping. It allows about 3,500 KopPSP students to collect orders directly at their cooperative.

This saves them from having to travel far to collect parcels. The collaboration is expected to generate at least RM1,000 in extra monthly income for the cooperative.

This income comes from service commissions without significant operating costs. Sim added that about 60 cooperatives nationwide currently operate as collection points.

KUSKOP aims to increase this number to at least 100 by the end of this year.

 The Sun Malaysia