fbpx
Connect with us

News

Want To Be Your Own Boss? Budget 2022 Is Here To Help You Kickstart Your Business And More

Published

Bajet2022 Header 2
Source: iStock & SG Magazine

It’s inspiring to see our fellow Malaysians achieving success merely by following their passion and doing what they love. Though many of us wish to do the same, it’s hard when you don’t have the capital to do so. It’s also disheartening when you’ve already started your business and still making a loss.

Fortunately, Budget 2022 has a comprehensive list of incentives and financial aid, which includes helping current and aspiring entrepreneurs to grow!

Chris Pratt Andy

Here’s how it works:

 

1. If you’re getting started, this is your moment!

For those looking to dip their toes in the industry, the government is hosting a number of financial programmes to help get your business off the ground and running.

 

Be your Own Boss

Bajet2022 Boss

PERNAS (Perbadanan Nasional Berhad) will provide financing of up to 90% or RM500,000 at a very competitive rate, to encourage people to become entrepreneurs via the franchise system:

  • Maximum financing RM500,000
  • 0% rate for the first 6 months
  • 6-month moratorium

 

Semarak Niaga Keluarga Malaysia – TEKUN Microcredit

03 Budget2022Eng F2 S1 Sn

The Informal and Micro Financing Scheme under TEKUN will offer loans, with priority given to informal and micro sector traders (emphasis on traders) with the following financing terms:

  • Loan rate: 4%
  • Moratorium: 6 months
  • Amount: Up to RM100,000
  • Tenure: Up to 5 years

 

Semarak Niaga Keluarga Malaysia– Financing Scheme Programme – Skim Pembiayaan Informal dan Mikro (SPIM)

02 Budget2022Eng F2 S1 Sn

Offering loans with priority given to informal and micro-businesses with these financing terms:

  • Loan rate: 0%
  • Moratorium facility: Up to 12 months
  • Amount: Up to RM10,000
  • Tenure: Up to 5 years (including moratorium)

 

BSN & Agrobank Financing for Youth Entrepreneurs

Bajet2022 Youths

This financing plan by BSN (Bank Simpanan Nasional) and Agrobank is specifically targeted at youth entrepreneurs, created to facilitate youths that plan to venture into entrepreneurship

 

MyKasih Capital Programme

13 Budget2022Eng F1 S2 Br

MyKasih is aimed at stay-at-home moms or women who want to earn extra income to support the family, including 2,000 single mums. Basic business capital will be provided to help jumpstart their business, as well as guidance and training to venture into online businesses.

 

2. Existing start-ups will receive some help too

MyStartup strategy

12 Budget2022Eng F2 S2 Je

The government is allotting RM20 million to create 5,000 job opportunities in over 2,500 companies. This is to facilitate the restoration and build-up of economic resilience of startups, in addition to creating a centralised support system for these businesses.

 

DanaNita

12 Budget2022Eng F1 S2 Br

This funding programme by MARA (Majlis Amanah Rakyat) is created to support women entrepreneurs, particularly those affected by COVID-19. The government has allotted RM230 million for this initiative.

 

3. Your food truck dreams are finally coming true!

Micro Financing-i ME2

Bajet2022 Food Truck

Hawkers and small traders can now request loans with a 0% interest rate to upgrade their businesses to food trucks, or buy carts, trailers or tri-wheels – this includes window dressing and special equipment or machine costs too! Just a heads up that there’s a 1% rate for management cost for the collection of repayment from the borrower, yeah?

Management cost at the rate of 1% on the collection of repayment from the borrower.

  • Food truck: RM60,000 – RM100,000
  • Food cart/Trailer: RM40,000 – RM60,000
  • Tricycle/Tri-Wheel: RM20,000 – RM40,000

And that’s all there is to the start-up business aspect!

However, there is so much more to Budget 2022 that’s beneficial to netizens in every possible way!

Want to find out what other benefits you’re eligible for? Check out the Budget 2022 website so you don’t miss anything! Let’s make full use of our government’s help (thanks, guys!) to make 2022 the start of a new hope.

 

Source: Tenor GIF
Source: The Star
Source: iStock
Source: Vulcan Post

Just In

Collage 57 Collage 57
News11 hours ago

Friend of M’sian Who Was Shot 8 Times Reveals That He Was Recently Appointed as Gang Leader

Do you know that feeling where something feels distant, as if it only exists in movies or the news until...

Collage 54 Collage 54
News18 hours ago

Dr Noor Hisham: Child in Viral Photo With Rash Actually Has Hand, Foot & Mouth Disease and NOT Monkeypox

As of now, Malaysians can breathe a sigh of relief as Health Director-General himself has confirmed that the recent viral...

Ft Vote Ft Vote
News18 hours ago

Study: Over 80% of Youths Are Excited to Vote in GE15, But 41% Are Unsure Who to Vote For

With the next General Election coming up, politicians on both sides have made their predictions on what they think will...

Ft Mqa Ft Mqa
News19 hours ago

“It doesn’t need to be disputed” – MQA Recognises PM’s Honorary Degree From Nihon University

Prime Minister Datuk Seri Ismail Sabri was recently awarded an Honorary Doctorate in Medicine by Nihon University in Japan in...

Collage 16 2 Collage 16 2
News2 days ago

Ministry of Transport Allocates RM450 Millions To Upgrade LRT Service & Safety With 23 Initiatives

LRT train services have recently found themselves under fire for the constant issues which caused delays and inconvenience to its...

Ft Surau Ft Surau
News3 days ago

Mini School Bus Turned Mobile Surau in Terengganu Becomes First to be Recognised by JPJ

For Muslims, having to find somewhere suitable to perform prayers can sometimes be difficult especially when you’re out and about....

Collage 47 Collage 47
News3 days ago

JUST IN: Multiple Areas in KL Hit By Flash Floods After Continuous Rain Since Morning

After a couple of weeks of hot, sunny weather, it finally rained in KL this morning (25 May) but unfortunately,...

Collage Final 2 2 Collage Final 2 2
News4 days ago

Grab: Recent Price Hike Due to High Demand For Rides & Low Supply of Drivers

Complaints surrounding Grab’s e-hailing services such as the inability to book a car, unusually high fares as well as long...

Announcement

Latest Videos

TRENDING TODAY