PETALING JAYA: Micro, small and medium enterprises (MSMEs) in Selangor have been given yet another channel to get funding for business expansion.
Yayasan Hijrah Selangor is collaborating with 10 strategic partners to offer funding to MSMEs under its integrated micro-credit programme called Skim Hijrah Selangor.
There are eight categories under the scheme, namely i-Agro, i-Bisnes, i-Lestari, i-Bermusim, Zero To Hero, Niaga Darul Ehsan, Go Digital and Program Sitham.
Under i-Agro, which is opened to all entrepreneurs in the state aged 18 to 65, loans of up to RM50,000 are given to those who wish to grow their businesses in agriculture, animal husbandry and aquaculture.
The objective is to enhance engagement in these sectors.
Under i-Bisnes, a small trader can get a loan of up to RM50,000 over a five-year period to be used as capital to expand his business. This is available to entrepreneurs in all business categories.
The i-Lestari offers loans of RM50,000 to RM100,000, also for business expansion while the i-Bermusim offers a RM20,000 loan for short-term businesses, targeted at those who set up stalls to sell seasonal fruits.
The Zero To Hero is a RM50,000 loan for those involved in training and development, the Niaga Darul Ehsan is a RM5,000 loan to start a small business, the Go Digital is a RM50,000 credit to help businesses market their products and services and finally the Program Sitham is to help those in the Indian community improve their standard of living.
The integrated micro-credit programme, which was launched in 2015, is a Selangor government initiative to widen opportunities for its middle class constituents by giving small traders an efficient channel to get access to capital.
In the seven years since it was launched, a total of RM139 million in micro-credit has been given to MSMEs through these eight financing schemes.
The businesses that have benefited from the scheme, referred to as “strategic partners” of Hijrah Selangor, have been recognised for their role in offering opportunities to residents in Selangor across various industries.
Among them are Gegey Empire Sdn Bhd, a food trailer, B Healthy Automotive Sdn Bhd, which runs a courier service and electric motorcycle rental, The Red Barn Sdn Bhd, which operates a food truck, and Naturale Biotech Management Sdn Bhd, which runs a tiger shrimp farming facility.
Others that have also been given a leg up by Hijrah Selangor through its micro-credit scheme are oyster and mushroom farm operator Merong Construction Sdn Bhd, restaurant operator APS Edar Sdn Bhd, a sewing entrepreneurship programme Nick’s Creations, and 6E Venture, which is financial consultant on insurance, takaful and unit trust.
One of these strategic partners that have gone on to create new opportunities to start a business and to obtain the necessary funding is B Healthy Automotive.
Its executive director Jason Teo said his company is offering entrepreneurs the chance to own courier kiosks in high-traffic locations. “They will be able to get 100% financing through Hijrah Selangor,” he told FMT Business.
Teo said that in a partnership with a petrol kiosk operator, the network of courier kiosk locations will be expanded.
He said those who sign up to become couriers can also get financing from Hijrah Selangor to purchase electric motorcycles.
Teo expressed hope that these efforts would generate business and employment opportunities for people who live in Selangor.
Source: https://www.freemalaysiatoday.com/category/highlight/2022/07/30/new-opportunity-for-business-expansion/