‘Cooperatives Need To Be Involved In Franchising,’ Says Minister

Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick (pic) is urging every cooperative in the country, in particular, Sabah to be involved in franchising.

He said to support the move, his ministry through Perbadanan Nasional Bhd (Pernas) has allocated a total of RM50 million this year in various schemes to assist entrepreneurs involved in franchising cooperatives.

“Interested cooperatives can contact the ministry or Pernas to find out more about financing facilities available,” he told reporters after officiating the Kota Marudu Mart Koperasi Usahaniaga Berhad Small and Medium Industries (SMI) product centre here today.

Ewon also said that based on the data available until December last year, there are 15,315 cooperatives registered nationwide with a membership of over seven million people.

He said a total of RM16.99 billion in share capital and membership fees were recorded by the cooperatives, with total assets accumulated amounting to RM159.9 billion.

Ewon also said Sabah has 1,706 registered cooperatives with 343,230 members with shares and accumulated fees totalling RM220 million, and accumulated assets valued at RM826.44 million with turnover standing at RM437.15 million.

Meanwhile, he said a total of 62 entrepreneurs have joined the Business in Transformation (BIT) programme to work on various products and over 400 entrepreneurs have registered under their respective products.

“The BIT programme is a transformation programme to turn small traders to become more competitive and systematic in running their businesses to be more profitable and to expand them more effectively,” he said.

Meanwhile, he said state and federal governments will continue to strengthen their cooperation to implement various entrepreneurial development programmes in line with the main agenda of the Unity Government led by Prime Minister Datuk Seri Anwar Ibrahim to develop Malaysia Madani.

“Entrepreneurial programmes implemented by agencies under the federal government in Sabah today with the cooperation of state government agencies is proof of the government’s commitment to aid entrepreneurs including those in rural areas,” he added.

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