Najib Wants to Give RM25 Million to M’sian Chinese Entrepreneurs to Finance Their Start-Up

If you’re an aspiring entrepreneur looking to venture into e-commerce but lacking funds, here’s some good news that will keep you motivated to realise your dreams!

Just yesterday (1 April 2018), our beloved Prime Minister launched a scheme called eCommerce Micro Credit Scheme, where RM25 million will be given to Chinese entrepreneurs aged 18 to 45 to help them finance their start-up business or upgrade their existing businesses with the latest technologies, reported The Star. Wow! 

Source: the star

“I hope we will be able to achieve big results in at least three key areas through the Micro Credit eCommerce initiative,” said Datuk Seri Najib Tun Razak in the event that was held in Wisma Huazong.

The three keys areas that he mentioned are; 

• To nurture technopreneurship among young people
• To improve living standards for youths in terms of income and quality of life
• To transform traditional SMEs so that they can remain competitive while enabling rural products to go global

Besides that, he also shared that the initiative’s intention is to offer an efficient and affordable financing facility to help young Chinese entrepreneurs start or upgrade their businesses. Not only that, he added that this programme will also help traditional Chinese small and medium enterprises (SMEs) upgrade their businesses with the latest technologies that will help them stay current and competitive. Help for all entrepreneurs! 

Source: the star

“We know this is crucial to our future. Advances in transportation and Internet technology are metaphorically ‘shrinking’ the geographic distance between even the most advanced cities and the most remote rural areas,” he further explained.

On the other hand, he said that 41 Chinese-based associations and chambers of commerce all over Malaysia have already volunteered to join the programme as strategic partners and are committed to the cause. He also took the opportunity to state that digital transformation is a growing necessity for all businesses. 

Source: the star

“It has been reported that one-third of leading firms will be disrupted by new competitors within five years, and it will be a case of transform or perish. There really is no alternative. We must transform or be left behind,” he said.

With that said, this is a pretty interesting scheme to consider if you are looking to fund your start-up or need some extra moolah to revamp your business. If you fit the above criteria, wait no more and start applying here!

Also read: 5 Study Loans SPM Grads Can Apply For This 2018 & How to Do It