This is to create viable business opportunities for the B40 and M40 income groups, as well as franchisees
by NURUL SUHAIDI / pic by MUHD AMIN NAHARUL
THE Domestic Trade and Consumer Affairs Ministry (KPDNHEP) assures that it will continue to implement various initiatives for the welfare of entrepreneurs and elevate the franchise businesses.
KPDNHEP secretary general Datuk Seri Hasnol Zam Zam Ahmad (picture) said this is subsequently to help revive the economic recovery and activities in the country.
Earlier this year, the ministry introduced the Micro Franchise and Affordable Franchise Development Programme with an allocation of RM5 million.
This is to increase participation among franchise entrepreneurs and create viable business opportunities for the bottom 40% (B40) and middle 40% (M40) income groups, as well as franchisees.
Hasnol said the programme has received encouraging responses from the targeted groups.
“The ministry will also consider extending the grant to benefit more local businesses and provide opportunities for Malaysians to venture into entrepreneurship that will also provide added value to consumers.
“However, each application will be filtered accordingly and go through the evaluation process before approval is granted,” he said during the announcement of the Malaysian Franchise Award finalists at Hotel Marriott,
Putrajaya yesterday. For the Micro Franchise and Affordable Franchise Development Programme, the maximum allocation for each franchisor is RM100,000, whereas the franchisee is between RM50,000 and RM100,000.
“Most applications came from the food and beverages sector, but we also see other sectors such as education gaining traction,” he added.
The Malaysian Franchise Award is an annual programme by the Malaysian Franchise Association (MFA) to give the highest recognition to franchisees in Malaysia who have shown continued commitment in improving quality and excellent performance.
Out of 53 nominations, MFA has listed 17 brands to be on the final list.
“Apart from receiving the trophy, certification and franchise training, the award is considered as a privilege in itself as it enables the franchise to better position their brand and increasing the customer trust,” Hasnol acknowledged.
Among renowned Malaysian brands shortlisted include Sengheng, GlobalArt, The Manhattan Fish Market, Cambridge English for Life, OldTown White Coffee and Tealive.
KPDNHEP welcomed the participation from various industries and is exploring new business or brands which have the potential to be franchised to diversify the industry and match the current demand.
To date, more than 1,000 franchise brands have registered with the ministry offering business opportunities to the public.