6 Ways To Get Funding For Your New Business In Malaysia

Starting a new business can be kind of intimidating as much as you feel excited about your idea. Opening your own cafe or restaurant, for example. I mean, what a dream! Being able to call the shots and see your vision come to reality.

But where to start? How to find the funds for it when you don’t even have enough savings to buy your own home (eek).

When you’re suuuper psyched about your brill idea before laying out the financial aspects

Okay, no need to crumple your business dreams and throw them in the bin. In fact, you should totally pursue it. You’ll never know until you try.

Scroll through for ways you can get funding for your new business idea and get a head start on your startup journey!

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First up, government loans

It might seem surprising to you but government loans are actually the popular choice for many entrepreneurs in Malaysia. Probably ’cause they don’t have profit rates and processing fees!

No additional processing fees? Yesss

The government has also been encouraging entrepreneurship in the country, so with that said, we should definitely take advantage of it. It’s also in line with the ninth strategic challenge under Tun Mahathir’s Vision 2020 that is creating and maintaining a society with an economy that’s super competitive.

Some of the resources by the government are:

TEKUN
Who is it for: Various schemes available for all Malaysians, including special entrepreneurship programmes for ex-military men and young professionals
Funding range: RM10,000 – RM100,000

PROSPER
Who is it for: Bumiputera youths dabbling in various industries, including fashion, automotive, and photocopy
Funding range: Up to RM100,000

PUNB
Who is it for: For all types of businesses, including retailers and wholesalers
Funding range: Varies depending on the scheme

TERAS
Who is it for: High performing Bumiputera companies
Funding range: Up to RM1 million

SUPERB
Who is it for: Bumiputera youths
Funding range: RM500,000

MARA
Who is it for: Various schemes available for businesses
Funding range: Varies depending on the scheme

Yayasan Penjaja dan Peniaga Kecil 1Malaysia
Who is it for: Non-Bumiputera small-business owners
Funding range: RM5,000 – RM20,000 (micro-credit scheme)

MyCreative Ventures
Who is it for: Entrepreneurs in the creative and arts industries.
Funding range: Up to RM5 million

Skim Pembangunan Francais
Who is it for: For franchisors looking to upgrade their business premises
Funding range: Up to RM100,000

Cradle Fund Sdn Bhd
Who is it for: Malaysian startups
Funding range: Up to RM300,000 (Cradle Investment Programme 300/CIP300), up to RM800,00 (Direct Equity 800/DEQ800)

SME Bank
Who is it for: Malaysian SMEs
Funding range: RM100, 000 – RM750, 000 (Small Business Financing/SBF), RM50, 000 – RM1mil (Business Accelerator Program/BAP)

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