KOTA KINABALU: Entrepreneurs in Sabah have been urged to come up with their own food-based products which can be franchised throughout the country via the Community Franchise Programme.
In making this call, the Minister of Domestic Trade, Cooperatives and Consumerism Datuk Seri Ismail Sabri Yaakob said the community franchise business had potential for involvement by the low and middle income groups, as well as those seeking a side income.
“In Sabah, the micro (Franchise Package) is not yet available as we have just introduced it and we hope that after this, it will expand in the state.
“What I want is for them (entrepreneurs) to on their own develop local products to be franchised at home first before doing so throughout the country.
“This is because the franchise brought in from the peninsula does not sometimes benefit the franchisor…curtailing its expansion,” he added.
Ismail Sabri said this when asked to comment on the level of participation by entrepreneurs or traders in Sabah in the Community Franchise Programme after its launch at Taman Putra Jaya in Telipok near here yesterday.
Also present was Sabah Deputy Chief Minister Datuk Seri Yahya Hussin citing the ‘burger and soup Sabah’ as an example. He said products such as these could be introduced for the purpose of this business.
He said the government had allocated RM8 million for the Small Franchise Loans Scheme (SPKF) to assist entrepreneurs enter the franchise business on a micro basis.
Ismail Sabri said until May 14 this year, there were 144 applications approved under the SPKF with approved allocations of about RM3.2 million.
In this regard, he asked entrepreneurs in the state to grab business opportunities by applying for the easy loans without deposits of up to RM50,000 with an annual three per cent interest and payable within five years.
He said from October 9 last year to May 14, 2012, nine community franchise programmes had been held with an investment potential reaching RM66.3 million with about 619 franchisors. — Bernama