6 Programmes that Malaysian Female Entrepreneurs should know

 

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Finance | Tuesday, 01 Aug 2017

Entrepreneurship is at an all-time high in Malaysia, especially amongst females. The Global Entrepreneurship Monitor Report 2015/2016 recorded that in Malaysia, women are about as likely as men to become entrepreneurs, and just as likely to have started the business out of necessity.

 

Many of these female entrepreneurs still face challenges such as lack of support, lack of confidence and biasness towards their male counterparts. Thankfully there are entrepreneurial grants and programmes available in Malaysia for female self-starters, whether they are motivated by the need to feed a family or by a vision. Here are some of them!

 

1. Women of Will

 

If you are a single mother, widow, urban poor or sole breadwinner with an income below RM1,500 or RM2,500 if based in KL, you should take a look at Women of Will.

 

Women of Will is a non-profit, non-governmental organisation that helps women from disadvantaged backgrounds in Malaysia. Selected beneficiaries receive about RM2,000 in micro-credit financing and six months of business training. This scheme has apparently lifted over 68% of women borrowers above the poverty line so far.

 

2. Women Entrepreneur Financing Programme, SME Bank

 

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.

 

3. Temanita Financing Scheme, Tekun Nasional

 

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.

 

6. Cradle Investment Programme, Cradle Fund Sdn Bhd

 

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.

 

Sources:

1. Global Entrepreneurship Monitor Report 2015/2016 Global Report

2. www.womenofwill.org.my

3. https://www.tekun.gov.my/en/temannita-financing-scheme

4. http://www.insken.gov.my

5. http://accelerator.mymagic.my/en/gap

6. https://gms.cradle.com.my

 



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