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Hello Entrepreneurs!
One of MeCD’s main focuses – providing guidance and facilitating the growth of entrepreneurs – saw a series of exciting developments in the last six-month period.
Barely a few months after getting in the saddle of the Ministry of Entrepreneur and Co-operative Development, Datuk Noh Omar affirmed his view that officers of the agencies under his stable must get down on the ground to find out why borrowers did not repay the loans they took. One way to handle this issue is through a new approach that allows entrepreneurs a second chance to pay back their loans should they be facing difficulties in paying back the loans. In the face of the recent fuel price increase, Noh assured that the Ministry was willing to reschedule payments of those borrowers who encounter problems.
At MeCD, when there is a viable business idea, funds can always be arranged. The government has approved large allocations to be distributed by the Ministry through various programmes to suit the entrepreneur. Did you hear about the people who were willing to take a month’s leave during Ramadan – due to the potentially lucrative income they can gain from trading at the bazaars? For Bumiputera petty traders and hawkers who want to grab this opportunity, MeCD is disbursing soft loans of RM3,000 per borrower. In higher learning institutions, members of the Young Entrepreneurs Club who are keen in trying out their business skills can also apply for a RM3,000 loan to set up a stall at the Ramadan bazaar.
The government has also approved an RM1.8 million allocation for the Malaysian Single Mothers' Association to initiate entrepreneurial programmes and activities for members. Apart from that, MeCD has expanded its loan facilities to include the agriculture sector, to help boost the country's food production. This is in line with current global trends in food supply and demand. Also, an initial RM3 million allocation had been set aside for 10 aquaculture entrepreneurs to undertake a project that aims to create 100 aquaculture entrepreneurs in efforts to boost production of quality fish to meet domestic demand and for export. We also heard about the Ministry’s plan to encourage patin fish breeding to more areas outside Temerloh.
In entrepreneurship building, MeCD is collaborating with the Education Ministry to implement the ‘weekend entrepreneurship programme’ which aims at creating 1,000 entrepreneurs per year. The Ministry is also set to create 150,000 new entrepreneurs towards promoting the ‘genuine joint-venture’ programme during the Ninth Malaysia Plan period. For rural Bumiputera entrepreneurs, the Ministry has announced a RM30 million allocation for this year. In the franchise business, the lead corporation in providing total franchise solutions, Perbadanan Nasional Berhad (PNS) is providing counselling and advisory services for potential franchisors through its weekly franchise briefings at the Franchise Service Centre at the Putra World Trade Centre.
MeCD has also launched a weekly ‘match-making’ programme between entrepreneurs in a district with their counterparts in other districts to explore new markets for their products. In assisting entrepreneurs to market their products, the past few months have seen healthy results. MeCD’s agencies such as Mara, Tekun, SME Bank, Bank Rakyat, PNS and the Co-operatives Commission have been providing assistance and facilities to enable entrepreneurs to expand their network and penetrate global markets. In particular, MeCD has assisted a number of halal food entrepreneurs to tap into foreign markets at the Malaysian International Halal Showcase (MIHAS) 2008 held in May.
There’s always a happy moment at MeCD. Read the many entrepreneurs’ success stories here, or just continue to browse this site for more news reports on the various activities of the Ministry. For more detailed information, tips, useful links and more contents related to entrepreneurship and co-operative movement, visit the Ministry’s Entrepreneurs’ Portal.
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