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A record 5,450 Indian entrepreneurs get loans worth RM116mil through
SEED in a year
Mohd Shafli bin Jaafar SidekNur Ashikin Binti Abd Jalil
Nurul Husna Binti Abdul RahmanNorliyana Binti Wahid
Norbaizura Binti Kamarudin
http://www.youtube.com/watch?v=ZfFuYDFzqHk
(SEED CORPORATE VIDEO
ARTICLE
INDIAN ENTREPRENEUR LOAN REJECTED
EVENTHOUGHT, 20 YEARS IN BUSINESS
GET LOAN THROUGH SEED
REVENUE INCREASE (AFTER 6 MONTH)
PM PROMISE TO GIVE AID RM 180m
(USED = RM116.61m)
SPECIAL FOR INDIAN TAXI DRIVERS BY SEED
SEED-TEKUN SPECIAL SCHEME BY SEED
BIGEST CHALLENGE: MONEY & BAD PRESS
SEED ASK FOR MORE ALLOCATION
(RM60M OR RM70M)
BANK HAVE TO BE LESS STRICT
SEED ORAGANIZING INTO SHORT COURSE:
i) BUSINESS SKILLSii)BUSINESS ACCOUNTING
SEED STILL IN INFANCY AND LOOK MORE WAYS
ARTICLE SUMMARY
Problem
Why Indian difficult to get loan?
Do not use the right channel Lack of experience Too much competition
Requirements for applicants
individual
i) How much can I afford?
ii) How much can I borrow?
iii)Why do I need a valuation?
iv) Do I need a guarantor for a loan facility?
company
i) What is a business plan and why do I need one?
ii) How much money do I need to get started?
iii) How do I go about financing a business?
What is SEED
• Unit that is established under the Indian Community ETP Unit of the Prime Minister's Department.
• To help undertake the initiatives announced by him under the Malaysian Indian Economic Conference (MIEC) Blueprint, which is a result of the successful MIEC forums that took place nationwide between the months of March to June 2012.
Main Role of SEED
• Credit Facilitation Unit
The Government of Malaysia (GOM) has allocated RM180 m through various channels for the Malaysian Indian SME and Micoenterprise community.
Credit Risk Management
Economic Transformation Unit
The Partners of SEED
• Bank Negara• MIDF• TEKUN• AIBIM• AIM• AKPK• CTOS
What is TEKUN
• Formerly known as National TEKUN Foundation is an agency under the Ministry of Entrepreneur and Cooperative Development was established on 9 Nov 1998.
• To provide easy and quick financing to indigenous to start and develop their business.
• Beginning 2008, TEKUN have made changes and reforms in line with the current requirements make this institution as a strategic entrepreneurship development and not only provide capital alone.
• Now, provide business opportunities , busines capital financing, guidance, and support as well as Entrepreneurs Network.
Background of the establishment
• National TEKUN been created as a result of the resolution of Penang Bumiputera Economic Convention in 1994,which suggests simple, quick and non-burdensome implemented to overcome the problem of small Bumiputera entrepreneur access to business financing .
• In 1995, Universiti Sains Malaysia has implemented a pilot project (TEKUN) in Penang
• Next, the pilot project was developed to Jeli, Kelantan and Terengganu.
ADVANTAGES OF DEVELOPMENT FINANCIAL
INSTITUTIONS
FINANCING SMALL SCALE BUSINESSES
BUILD MORE BUSINESS VENTURE IN
COUNTRY
CREATE MORE JOB OPPORTUNITY
CHANCES TO DEVELOP
SUCCESSFUL COUNTRY
MORE BUSINESSES CAN COMPETE WITH
OTHER COMPETITORS
CHANCES TO EXPAND BUSINESSES GLOBALLY
RECOMMENDATION
INDIVIDUAL• An Indian entrepreneur must find another
channel to get loan.• Start with small business.• Make research about the loan agency before
make loan.• Report the situation to the parties involves.
GENERAL• Encourage Indian people to take opportunity
by allow them join the event organize.• Government need to increase the amount
funds for Indian but has limit.• All entreprenuer should help each other
without consider their race or religion.
References
• http://www.tekun.gov.my/web/guest/pendahuluan
• http://www.tekun.gov.my/web/guest/latar-belakang-penubuhan
• http://www.seed.org.my/aboutus/?id=1• http://www.seed.org.my/