Consider crowdfunding to raise capital, young entrepreneurs advised


(From left) Ting, Hii, Kueh and Yong in a photocall following the handing over of the crowdfunding licence.

SIBU: Young entrepreneurs should consider looking at crowdfunding as a means to raise the needed capital to start a business.

Young Entrepreneur Committee of Sibu Chinese Chamber of Commerce and Industry president Dr Renco Yong said the practice provides an alternative for youths interested in getting a start in the business world, particularly for small and medium-sized enterprises.

“Crowdfunding is getting popular in Singapore and China and it’s time we embrace it ourselves, using the Internet as a platform,” he said.

Yong was speaking to reporters after witnessing the handing-over of a crowdfunding licence from Alixco P2P Funding representative Ting Kiet to Kueh Sui Kiong of Babyland Cute House here yesterday morning.

Alixco P2P Funding is one of six crowd-financing companies in the country approved by the Securities Commission Malaysia.

Yong said young entrepreneurs could get their funding from different sources once they signed up as a member of the company.

“This is a legal way of obtaining funds and also comes with lower risk,” he added.

Meanwhile, investor Robin Hii signed up as an issuer of the Alixco P2P Funding during the function.