6 Programmes that Malaysian Female Entrepreneurs should know
Finance | Tuesday, 01 Aug 2017
For small-and-medium-sized enterprises, there is the Women Entrepreneur Financing Programme. This initiative by SME Bank has a financing limit between RM500,000 and RM2.5 million. Tied alongside the Women Leaders Entrepreneur Acceleration Program, it provides both financial assistance and coaching in strategic business methods to ensure growth and sustainability.
The TemanNita Financing Scheme was created by the Tekun Nasional in response to high female borrowing. This year, about RM100 million has been allocated and is expected to help about 10,000 female entrepreneurs. In particular, it is aimed at empowering small business owners aged between 18 to 60 years old within the Malay community.
4. National Entrepreneurship Institute (INSKEN)
INSKEN holds a number of entrepreneur training programmes across Malaysia throughout the year. The 3-day training programmes are designed to help those who want to start up, expand or accelerate their businesses. While not necessarily specific to women, this can be a way of finding new ideas to take their businesses to the next level.
5. Global Accelerator Programme, MAGIC
The Malaysian Global Innovation & Creativity Centre (MAGIC) has recently launched the all-new Global Accelerator Program (GAP), which serves to help Malaysian start-ups looking to enter the Southeast Asian Market.
Some of the benefits participants can get are funding from global players like Microsoft and Amazon Web Services; trainings with innovators, mentors and investors as well as direct access to partners such as Maybank, Accenture, Maxis, Digi and Axiata.
The Cradle Investment Programme is the first development and technology commercialisation funding programme in Malaysia. Run by an agency under the Ministry of Finance, it mostly invests in innovation-driven businesses.
These are conditional grants though, meaning that if an applicant fails to complete the project, he or she will have to repay the grant. The application process usually takes about 3 to 6 months.
Another way to invest in your business is to protect it with the right insurance plan. For more information on comprehensive plans by Allianz Malaysia, call 1300 88 1028, email customer.service@allianz,com.my or chat with us via Facebook live chat.
Note: Information is correct at time of publishing. You should consult the official websites by these organisations for the latest details about each programme.
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