KUALA LUMPUR : Petty traders and small and medium enterprises (SME) welcomed the new funding schemes launched by Prime Minister Datuk Seri Najib Razak to boost and develop their businesses.
Najib on Thursday launched the RM200 million Al-Ansar Bumiputera Fund, a new initiative by Lembaga Tabung Haji to help Bumiputera businessmen obtain funds.
He later launched a RM30million micro credit scheme to help Chinese hawkers and petty traders finance their businesses.
Jalan Alor Hawkers’ and Traders’ Association vice-president Raymond Khue said the scheme would help reduce the reliance of Chinese traders on Ah Long (loan sharks).
“Most traders have limited funds to start their business as they are from the low and middle income group.
“Some also have difficulty applying for bank loans.
“When they are desperate, they will fall victim to the Ah Long.
“With this scheme, traders and hawkers now have a better alternative to finance their business as they are allowed to borrow between RM5,000 and RM15,000.
“The amount may be little but for them, it is beneficial.
“As the scheme has stipulated conditions and approvals, we at the association will help our members to apply for the funds.
“We will filter the applications before submitting the documents to ensure that deserving traders and hawkers get access to the scheme,” he said.
Federation of Chinese Hawkers and Petty Traders Association chairman Datuk Lee Teong Chwee said the scheme would encourage more young people to venture into entrepreneurship.
“The new generations should take this opportunity to join SME. We need more young entrepreneurs to continue the legacy and also to help them sharpen their entrepreneurship skills.
“This will also help the existing traders and hawkers to improve their income and upgrade their stalls” he said.
Malay Businessmen and Industrialists Association of Malaysia president Datuk Moehamad Izat Emir said while he lauded the Al-Ansar Bumiputera Fund, the government should also provide the Bumiputera traders with ample training to help them face business challenges.
“The problem with most Bumiputera businessmen, is that even when they receive sufficient funds, they fail to sustain and expand their business to the next level.
There should be more programmes to educate and train the Bumiputera entrepreneurs to handle their business.
Federal Territory Malay Hawkers and Petty Traders Association president Datuk Bahrim Abdul Razak said the fund was timely.
“Some traders have to close down due to insufficient funds and poor income. I hope the funds will help more Bumiputera entrepreneurs,” he said.