NILAI: A total of 39,315 institutions of higher learning (IPT) students and entrepreneurs from low-income B40 families have registered for the Prihatin Business Registration Scheme (SPPP) initiative from January 2021 to Aug 31, 2022.
Ministry of Domestic Trade and Consumer Affairs secretary-general Datuk Azman Mohd Yusof said the SPPP, which was introduced in December 2020, allowed them to register their businesses with the Companies Commission of Malaysia (SSM) under the Registration of Businesses Act 1956 without being charged any fees.
“If we look at the statistics, 18,001 of them are IPT students while 21,314 are B40 entrepreneurs. This shows the number needs to be expanded because the higher the percentage (who register) to become entrepreneurs, the better. For this year alone, we are targeting 20,000 to register for the SPPP.
“The participants’ awareness of the importance of legally registering their businesses will enable them to enjoy various benefits that are offered by the government, like financial aid, equipment assistance, training and other entrepreneurial guidance,” he told reporters after launching the state-level Youth Entrepreneurs Programme 2022 (PUM22) here today.
Azman, who is also SSM chairman, said that through legitimate businesses, entrepreneurs can grab various assistance provided by government agencies, including the Tabung Ekonomi Kumpulan Usaha Niaga, Majlis Amanah Rakyat and Amanah Ikhtiar Malaysia.
As such, he urged participants to take advantage by registering their businesses to ensure they are run legally and enable their customers to purchase their services or products with confidence.
He explained that among the most registered sectors through SPPP are retail and wholesale, food and beverage as well as manufacturing and construction.
As for PUM22, which is now into its fifth series in Negeri Sembilan, Azman said it was to give the participants early exposure to basic skills before venturing into the business field, thus producing young entrepreneurs who can drive the country’s economy in the future.
He added that through PUM22, participants will also be exposed to the benefits of financial management, digital marketing and the protection of consumer rights so that they will be more sensitive and concerned about consumerism issues in the country.
“So, they have due consideration to register their businesses, in addition to making business their main choice of career after graduation. We want entrepreneurs to introduce their products properly, (as we) fear that if they want to get rich quickly they may resort to scams or cheating the public,” he said, adding that a total of 600 participants had joined the PUM22.-Bernama
