Seize new financing initiatives Alumni TUBE Sabah urged

11 November 2023

By AVV

KOTA KINABALU: Alumni TUBE Sabah are urged to seize the opportunity to apply for the new financing assistance programme called the Bumiputera MSMEs Financing Initiative (BMFI) in collaboration with Funding Societies Malaysia (Modalku Ventures Sdn Bhd).

This is a special financing for Alumni TUBE who have the potential to develop their respective businesses, with a highly competitive loan rate of 2% and a maximum financing amount of up to RM100,000.00.

Minister of Entrepreneur Development and Cooperative Datuk Ewon Benedick said this during the Meet and Greet Alumni Tube Sabah today.

He also urged Alumni TUBE to delve into and master the knowledge of digital entrepreneurship as preparation to advance their businesses to higher levels, so as not to be left behind and be able to compete with relevant industry players.

"As the Ministry responsible for driving the entrepreneurial and cooperative development agenda, we remain committed to empowering the country's entrepreneurial ecosystem."

"This is crucial in promoting sustainable, progressive, and inclusive economic growth, in line with the vision of the National Entrepreneurship Policy 2030 (DKN 2030) to make Malaysia a leading entrepreneurial nation."

Through entrepreneurial activities, the income gap among the people can be narrowed, and various social issues can be addressed, he said.

"It generates additional income and creates new employment opportunities that stimulate socio-economic growth in the country."

In this context, the government consistently encourages the involvement of all segments of society in entrepreneurship, including the B40 group (bottom 40% income group), persons with disabilities (OKU), indigenous people, women, youth, and Bumiputera, he said, with special attention given to youth in encouraging them to actively engage in entrepreneurship.

As the mainstream focus increasingly emphasises innovation, technology, and digitalisation, youth and young people need to be more proactive in advancing themselves and stepping out of their comfort zones as "job seekers" to become "job creators".

During the function he announced a contribution of RM30,000 from his Ministry's fund to go towards Association of Bumiputra Youth Entrepreneurs (TUBE) for their programme and activities.

Also present during the event was Raizal Nainy Chief Executive Officer (CEO) SME corp Malaysia.