FT MCA Youth to fund young entrepreneurs through new programme

The Star

Hopeful youth entrepreneurs may now be able to get the financing and guidance they need through a newly launched programme by the Federal Territories MCA Youth.   Federal Territories MCA Youth chief Mike Chong Yew Chuan witnessed the signing of a memorandum of understanding (MOU) between the Youth wing, Ai Makan Express Management Sdn Bhd and Koperasi Jayadiri Malaysia Bhd (Kojadi) on Tuesday (May 21), and said the new project will focus on entrepreneurs eager to join the food and beverage industry by providing management experience through training and advice, as well as business loans.  Read more at https://tinyurl.com/3jn7ny8p  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00So, thanks to all of you for being here today, to the press conference of a tripartite MOU

00:07signing ceremony between MCAU, Wilayah Peseketuan, Koperasi Jaya Diri Malaysia Berhad, or better

00:12known as GOJADI, and also I Makan Express Management Senate Berhad.

00:16So to encourage and support the entrepreneurship of young adults or youth, MCAU, Federal Tertiri

00:24or Wilayah Peseketuan is going to collaborate with GOJADI and also I Makan Express Management

00:29Senate Berhad to promote a project aimed at assisting young adults who intend to start

00:35their own business.

00:36This project will provide management experience and business loan that are the two main criteria

00:43for a success of a business to young entrepreneurs who aspire to venture into the food and beverage

00:49industry.

00:51So we can notice that actually the government announced in Budget 2024 is a continuous support

01:00for micro and also small-medium enterprises, providing loans and also financing guarantees

01:06totaling up to RM44 billion Malaysia for this year alone.

01:11However, we know that the required documentation and also procedures are sometimes very troublesome,

01:17especially for first-time entrepreneurs or this is the first time for them to start

01:23their own business.

01:24So additionally, applicants must meet specific conditions such as having operated their business

01:31for at least three years or something like that, so making it seem unattainable for many

01:37first-time entrepreneurs.

01:38That's why today we take the initiative to collaborate together with GOJADI, which is

01:43a very well-known and very well-maintained corporate in Malaysia, and also iMarketExpress

01:50Management, a very experienced F&B management company, to cooperate and also to provide

01:58assistance and guidance to our young entrepreneurs to make sure to help them, to support them,

02:04to ensure that their entrepreneurship will be a very fruitful one.

02:11For a start, we are very pragmatic and practical.

02:15You just make enough to cover the repayment of loan, practical, or else I think GOJADI

02:25people is going to go after me, Datuk Virat is going to go after me and say, your thing

02:29is not working.

02:30That's very pragmatic, very practical.

02:33Make sure that what you make every month is enough for you to cover back the repayment

02:38of the loan.

02:39But of course, I'm very confident that with the help from iMarketExpress Management, we

02:46are going to provide them the guidance including, but not limited to, the location, where you

02:52are going to set your kiosk, your stall, how you operate, from what time to what time,

02:58what are the things to bear in mind, and then the workers, how you train them, all this.

03:06So besides the interview, for those shortlisted, we are going to make sure that they attend

03:10a one month training, so that they have all this knowledge before they go into the war.

03:21So of course, when you are talking about doing business, we hope that our young people, not

03:27only able to repay the loan, but also they can make a very, I would say, comfortable

03:35income for them.

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