KUALA LUMPUR, Nov 10 (Bernama) — Rather than confining its business \nexpansion aspirations to the local or ASEAN market, the Malaysian \nFranchise Association (MFA) spurred by the significant portion allocated\n to the sector in Budget 2021 is setting its sights on Africa, the \nBalkans and the Middle East.<\/p>\n\n\n\n
Its chairman Dr Radzali Hassan said the initiatives outlined in \nBudget 2021 would also allow the local franchise business to sustain and\n remain competitive while recovering from the devastation caused by the \nCOVID-19 pandemic.<\/p>\n\n\n\n
He noted that the budget had taken into account the needs and \nsustainability of the business, giving MFA members the opportunity \nto contribute to the country\u2019s economic recovery.<\/p>\n\n\n\n
\u201cMFA appreciates the US$6.06 million (RM25 million) allocation for \nthe micro franchise and low-cost franchise development programme. \nIt gives hope to entrepreneurs that they could venture into the \nfranchise business in the RM20,000 to RM100,000 scale,\u201d he said in a \nstatement Tuesday. (US$1 = RM4.12)<\/p>\n\n\n\n
He said the MFA is also confident that the RM35 million allocated to \npromote goods and services produced by Malaysia under the Trade and \nInvestment Mission will increase the export potential for local \nfranchises particularly the halal and other franchise sectors, to ASEAN \ncountries. <\/p>\n\n\n\n
\u201cWith this allocation, the MFA hopes that the franchise sector can \npenetrate new markets such as in Africa and the Balkans as well as the \nMiddle East,\u201d he said.<\/p>\n\n\n\n
Radzali said franchise entrepreneurs and MFA members could also \ncapitalise on the employment recruitment incentive programme \n(PenjanaKerjaya); targeted wage subsidy programme; apprenticeship \nprogramme under youth development; and Human Resources Development Fund \nlevy exemption for the tourism industry.<\/p>\n\n\n\n
\u201cAlthough these initiatives and programmes are short-term employment \nsupport from the government, they can help traders retain \ntheir workers for business continuity and sustain in the current \ndifficult environment,\u201d he said.<\/p>\n\n\n\n
Meanwhile, he said MFA is also appreciative of the loan and financing\n accessibility under Budget 2021 for small and medium enterprises, and \nBumiputera entrepreneurs including women and retirees.<\/p>\n\n\n\n
\u201cThese loan and financing facilities will not only improve the \nentrepreneurs\u2019 business cash flow but also help them to expand their \nbusinesses either through the franchise business model or other business\n models.<\/p>\n\n\n\n
\u201cThis indirectly also helps to generate the economy of the local \ncommunity, create employment opportunities and other business networks,\u201d\n he added.<\/p>\n\n\n\n
MFA was formed in 1994 to support the implementation of the Malaysian\n government programme to promote entrepreneurship through franchising.<\/p>\n\n\n\n
— BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Nov 10 (Bernama) — Rather than confining its business expansion aspirations to the local or ASEAN market, the Malaysian Franchise Association (MFA) spurred by the significant portion allocated to the sector in Budget 2021 is setting its sights on Africa, the Balkans and the Middle East. Its chairman Dr Radzali Hassan said the initiatives […]<\/p>\n","protected":false},"author":27,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[288,300,318],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/100856"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/27"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=100856"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/100856\/revisions"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=100856"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=100856"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=100856"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}