Published: August 29, 2012
KUALA LUMPUR: The Malaysian Franchise Association (MFA) is encouraging young people to become entrepreneurs by setting up micro franchises for local brands at a cost as low as RM50,000.
MFA secretary-general Mohamad Shukri Salleh said this is part of the association's aim to produce more entrepreneurs for both local and international products.
"The government will help those who are interested in this industry, and so far we have more than 600 franchises, while some 48 of our local brands can be seen in 50 different countries.
"The MFA is aiming for local products to penetrate further into four countries namely Indonesia, India, China and the Middle East," he said at a media briefing here yesterday on MFA's 15th Malaysia Franchise Awards 2012 which will be held on October 23.
Among the local products that have established franchises in international markets are Secret Recipe, Marrybrown and Nelson's, he added.
The organising chairman of the awards Datuk Dr Manjit Singh Sachdev said nominations for the awards officially opened yesterday and will close on September 28 for local franchise industry players to submit entries in five categories: Franchise of the Year, Franchise System Category, Open Category, Franchise Category and Special Category.
"We have an independent committee to judge all these franchises, including Sirim, Malaysia Productivity Corp, representatives from the banking sector, Intellectual Property Corp and university professors and lecturers," he said. Bernama
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