KUCHING: Many members of the local business community welcome a move to empower young entrepreneurs to own franchises in the country.
In a recent news report, the Ministry of Domestic Trades and Consumers Affairs (KPDNHEP) is working on a strategy to bring down franchise fees to about RM50,000 in order to encourage more young and new entrepreneurs to venture into the business.
It is believed that young entrepreneurs could benefit from this as they can start their business early and get experience quickly.
New Sarawak Tribune reached out to several businessmen and businesswomen to get their comments and reactions regarding the initiative.
Nur Ameera Baba @ Anddy Sumardee, 26, Make Up and Henna service
“It’s a great initiative to help those who are not capable of getting much money to start their own business. I hope that this idea can be implemented soon so that young entrepreneurs who are struggling can benefit from it.”
Ahmad Termidzi Bin Serojai, 26, IT-based services & supplies company
“It is a good initiative to help young and new entrepreneurs. With proper help and funding, they can grow and become more dominant to help Malaysia grow.”
Nur Isma Azizah, 23, food and bakery business
“I hope that everyone will get the opportunity because it’s key to a brighter future. Everyone will get an advantage to grow their small enterprises. This initiative can help a lot.”
Leandro Mcrae Mackinon, 24, Cleaning service
“I believe it will definitely help people to venture into business instead of looking for jobs especially those who need money to support their families. The initiative could be a good start-up for them.”
Hazirah Abu Bakar, 23, gifts and deliveries service
“This initiative is good because it can be an alternative form of capital acquisition. The primary reason most entrepreneurs turn to franchising is that it allows them to expand without the risk of debt or the cost of equity.”