RM4 mln franchise entrepreneur financing target in Sabah

KOTA KINABALU (Sept 21): The Ministry of Entrepreneur Development and Cooperatives through its agency Perbadanan Nasional Berhad (PERNAS), is targeting potential franchise entrepreneur financing of RM4 million in Sabah this year.

Its minister, Datuk Ewon Benedick, said that overall, PERNAS is providing RM50 million in financing nationwide for franchise-related entrepreneurs this year.

PERNAS, he said, has financed 69 entrepreneurs in Sabah with a total financing value of RM12.7 million, and this year aims to target RM4 million in potential financing.

“The franchise industry in Sabah is seen to be growing positively, and I am proud that there are various home-grown franchise brands from Sabah, such as Mok, Fook Yuen, Nuvis, Sinar Suria, Happy Potato, and many more brands that have the potential to expand, including brands like Alap-Alap, Cendol Ina, The Hot Puff, Skippee and Keropok Lekor Masyhur.

“The development of these home-grown brands in Sabah proves that local brands can also compete with other international franchise brands. This positive growth should serve as a catalyst for aspiring entrepreneurs and existing entrepreneurs in Sabah to venture into the franchise business,” he said when launching the PERNAS Carnival at the Sabah International Convention Centre (SICC) here on Saturday.

Ewon said that local Sabah brands need to be elevated and brought to the global stage.

“I want to see more franchise entrepreneurs emerging from Sabah. In July, I participated in an international trade mission related to franchising in Thailand, and I was very impressed to see local brands that have made a name for themselves abroad, such as GlobalArt, Myeondong Topokki and LaundryBar,” he said.

Ewon urged Sabah entrepreneurs to take advantage of the opportunities provided by KUSKOP and PERNAS to develop their businesses through market access, assistance and guidance offered.

Regarding the carnival, Ewon said that the inaugural event aims to empower franchise entrepreneurship and local Small and Medium Enterprises (SMEs) through the services and products offered by PERNAS and KUSKOP agencies.

Additionally, he said it encourages public participation in entrepreneurship, especially in franchising, and promotes local entrepreneurs’ products and services.

“This carnival is the best platform for the ministry and agencies to go to the ground to promote entrepreneurship to the public,” he said.

More than 100 entrepreneurs and business exhibitors participated in this carnival, including franchise and pre-franchise entrepreneurs, as well as local entrepreneurs promoting services, food, fresh produce, handicrafts, traditional products, and food trucks.

During the event, there was a Memorandum of Understanding (MoU) document exchange session between PERNAS and Serai Group Sdn Bhd (Serai Group), aimed at strengthening cooperation between the two parties in business development, market expansion and entrepreneurship support initiatives.