The Entrepreneur Development and Cooperatives Ministry (Kuskop) through Perbadanan Nasional Bhd (Pernas) had distributed RM12.6 million to Sabah franchise entrepreneurs, involving 33 franchises and pre-franchises.
This year, the ministry is targeting to distribute RM4.2 million in potential funding for Sabah this year, under the BizFrancais programme.
Speaking at the officiating ceremony of BizFrancais@Sabah 2023 programme, Kuskop Minister Datuk Ewon Benedick said there are various homegrown brands in Sabah that has a potential to be developed into franchises.
“Among franchise brands that originated from Sabah are Mok, Fook Yuen, Nuvis, Sinar Suria, and Happy Potato, as well as other pre-franchise brands that can compete with internatonal franchise brands,” he said in a statement today (Nov 27).
Ewon said this year, the country’s franchise industry is expected to grow between 20 and 30%, with a total value of RM25 billion.
“As of December 2022, a total of 1,154 franchises have been registered, nationwide. Pernas has distributed RM509 million for franchise fund to 2,200 franchise and pre-franchise entrepreneurs as well as had approved funding of RM14.94 million.
“To intensify the efforts in creating more franchise entrepreneurs in 2024, Pernas has allocated RM50 million in franchise and pre-franchise funding.
In addition, he said the ministry through its agency, Pernas will continue its initiatives, through various new programmes that will not only targeted women and youths, but also pensioners, veterans and social enterprises,” he said.
“In order to expand franchises brand in the global stage, Pernas will also introduce Nurturing Brands For Expansion and Growth (Next), which is a programme to prepare local franchisers to help expand their brands abroad,” he added.
Also present at the ceremony were Kuskop Entrepreneur Development deputy chief secretary Datuk Zamri Salleh, Pernas chairman Datuk Hazimah Zainuddin and Pernas executive committee member Afidah Azwa Abdul Aziz.
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