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By Nur Ashikin Louis
KUCHING, Oct 16: Domestic Trade and Consumer Affairs (KPDNHEP) Minister Dato Sri Alexander Nanta Linggi encourages more people, especially the B40 and M40, to venture into franchise business which will guarantee the newcomers an already-established business system.
He said venturing into the franchise industry means that the newcomers do not have to start from scratch where they need to come up with an idea, basic knowledge and capital to kick start their business.
“In the franchise industry, the system and the products already exist. The only thing left to do is to equip the newcomers with exposure and training with regards to the system and business environment,” he said when officiating the Sarawak-level Micro Franchise and Affordable Franchise Development Programme held via Zoom today.
Nanta further said the federal government has allocated a total of RM25 million to implement the Micro Franchise and Affordable Franchise Development Programme as well as Buy Malaysia Campaign.
To realise the government’s initiative to develop micro and affordable franchise business, the Ministry is also providing franchise business packages worth RM50,000 and below (micro) and RM100,000 and below (affordable).
This year alone, the Ministry aims to develop eight new franchisors and 27 new franchisees in a bid to convince the Ministry of Finance (MOF) for a bigger allocation to intensify development of the franchise industry.
Additionally, the Ministry has also proposed the establishment of a mediation centre to serve as a middleman between the franchisors and franchisees.
The Micro Franchise and Affordable Franchise Development Programme was organised by the Ministry in collaboration with Malaysia Franchise Association (MFA) to provide exposure and training on micro and affordable franchise businesses. — DayakDaily.