18th August 2021,
THE Domestic Trade and Consumer Affairs Ministry (KPDNHEP) is collaborating with the Malaysian Franchise Association for this year’s Student Franchise Programme (SFP) 2021.
Introduced in 2014, the SFP is aimed at introducing university students to the franchise business concept and provide them with opportunities to participate in company franchises.
The comprehensive programme comes in three phases namely a Franchise Disclosure Seminar, Franchise Business Intensive Course and the Franchise Business Challenge.
This year, the programme will see the involvement of 20 public universities and three premier polytechnics that will compete in the Franchise Business Challenge to win franchise business grants worth up to RM100,000.
KPDNHEP secretary-general Datuk Seri Hasnol Zam Zam Ahmad said this initiative will foster entrepreneurship education and accelerate Malaysia’s brand globally.
“The SFP is a significant medium to produce entrepreneurs and the next generation of franchisors who will guide franchisees under their leadership as well as bringing the Malaysian brand to the international stage,” he said when officiating the programme yesterday, which was attended by 500 participants nationwide.
Additionally, the SFP is also in line with the government’s mission to develop more franchise entrepreneurs under the concept of micro and affordable franchise business.
A micro franchise is a business with a value of up to RM50,000, whereas an affordable franchise is one with a value of up to RM100,000.
“More entrepreneurs will enter the franchise industry especially among the younger generation, particularly students.
“This will benefit not only our youth but the entire country,” Hasnol Zam Zam said.
He added that the SFP initiative will increase job prospects for the youth, particularly during the Covid-19 period, when the country is experiencing a labour shortage.
The ministry is also inviting more people to attend the Franchise International Malaysia (FIM) 2021 seminar which will be held virtually from Oct 9 to 16, 2021.
FIM is a digital conference which brings together professionals and key players in the franchise industry to address business and franchise concerns.
Source: The Malaysian Reserve
Full Article: https://themalaysianreserve.com/2021/08/18/kpnhep-introduces-students-to-franchise-business/