Ministry, via Pernas, to provide RM50m in franchise financing this year

KUALA LUMPUR: The Ministry of Entrepreneur and Cooperatives Development (Kuskop) through its agency Perbadanan Nasional Bhd (Pernas) is providing franchise financing worth RM50 million this year, with a total of 290 entrepreneurs targeted.

Entrepreneur Development and Cooperatives Minister Datuk Ewon Benedick said that in 2023, Pernas approved financing amounting to RM25.23 million for 155 franchise entrepreneurs, creating 594 job opportunities through various programmes and schemes funded.

“The commitment given by Pernas, with full support from Kuskop, has forged various successes in the development of the country’s franchise industry. I hope that Pernas’s performance can be further enhanced through strategic planning so that the direction of franchise entrepreneurs aligns with the mandate given,” he said at today’s launching ceremony of the “Focus Point Sightsavers’ Franchise Package” and signing of a memorandum of understanding between Pernas and Focus Point Care Group Sdn Bhd for financing of participating franchisees.

Ewon expressed his wish for Pernas to explore other sectors besides food and beverage to provide more opportunities for entrepreneurs to join franchise programmes in the country.

“This is one of the sectors that we offer to entrepreneurs, the optometric sector, and, hopefully, I would like to see Pernas explore even more sectors that we can offer to new entrepreneurs to join the franchise programme in this country,” he said.

He added that the franchise industry has recorded an increase in sales value of 105.48%, amounting to RM30 billion in 2021 compared with RM14.6 billion in 2020.

“The commitment shown by all parties in providing support and organising various entrepreneurship-based programmes and initiatives to support these franchise entrepreneurs is crucial to ensuring good economic growth for our country.

“With the support of the government and the ministry, as well as comprehensive involvement from Pernas, more individuals can be encouraged to venture into the field of franchise entrepreneurship,” he said.

Focus Point Vision Care Group introduced the Focus Point Sightsavers franchise package with initial business cost savings of up to 70%, an initiative utilising franchise financing provided by Pernas. This package features a flexible operating hours concept, premises renovation at no cost, and reasonable initial capital for new franchi