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RM99.3 million for Community Franchise Programme

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MELAKA  – The Community Franchise Programme has registered 1,040 potential franchisees with an investment value of RM99.3 million since its launch in October last year, said Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Ismail Sabri Yaakob.

The encouraging figures show the franchise system can produce capable local entrepreneurs, he said.

“At the same time, the government’s Franchise Micro Financing Scheme (SPKF) has approved loans totalling RM4.92 million to 202 potential franchisees as of Aug 30,” he told reporters after the launch of the state-level programme here today.

He urged potential franchsees to take advantage of SPKF, for which the government has allocated RM8 million. The scheme offers local franchisees, of low to middle income and aged 21 and above and less than 65, a franchise package not exceeding RM50,000 with 90 per cent margin of financing at an annual interest of three per cent.

Previous programmes have been held at 13 locations in nine states and Federal Territory of Kuala Lumpur.

“The programme’s overall objective is to generate supplementary household income which will ultimately spur national economic development,” he said.

As of Aug 30, a total of 621 franchise systems have been registered with 5,527 franchise businesses created, he said, adding Melaka’s franchisors include Bahulu Warisan, Tai Chi Nyonya House and Jonker Walk Kopitiam. – Media UMNO