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 Business

Azhar: Get creative, innovative and leap into franchising

20th September, 2019

KOTA KINABALU: Sabah needs more creative and innovative entrepreneurs for it to be relevant in the changing business environment.

Making the call, Assistant Minister of Trade and Industry (MTI) Azhar Matussin said it was the only way to forge ahead in the highly competitive world.

“Think outside the box and widen your knowledge and skills to compete with the well-known businesses,” he told reporters after opening of the Bizfrancais @ Sabah 2019 here on Thursday.

The one day event was jointly organised by Perbadanan Nasional Berhad (PNS), Sabah Economic Development Corporation (SEDCO) and MTI.

Among present at the event were PNS Chief Operation Officer (Business), Hassan Abdul Rahman and SEDCO chairman, Datuk Richard Sakian Gunting.

More than 500 Sabah entrepreneurs and keen entrepreneurs attended the one day event. Azhar asserted that although there are various new businesses established in the state, yet almost all of its products are similar to one another.

“For example the madu kelulut (stingless bee honey) were farmed widely across Sabah, but the end products are just the same – honey.

“If they have the ability to turn the raw honey into downstream products such as soap, it will increase their business revenue.

“These kinds of goods can reach wider audiences and can even be franchised,” he said, encouraging industry players to take up digital economy particularly in marketing their products.

Earlier, Azhar noted that franchise industry is another option for entrepreneurs to venture in.

He noted that franchising is a promising industry as it shows 8.5 per cent improvement in 2018 compared to 2017. “A total of RM30.3 billion was recorded last year compared to RM27.7 billion in previous year.

“Here in Sabah, we witnessed a rapid growth for the industry as franchise brand like McDonald’s, KFC, Burger King, Domino, Secret Recipe and 7-eleven have been established.

“Additionally, the newly opened Jollibee and soon-to-be open Subway will enhance the business here.” Thus, he hopes that more parties will come forward to educate local entrepreneurs about business opportunities in franchising.

Meanwhile, Hassan said that the objective of the Bizfrancais is to empower local business to venture in franchise.

“This is one of our initiatives to give knowledge and training to local entrepreneurs,” he added.

The Bisfrancais Sabah edition was held after its Penang edition in July. Another four Bisfranchais series will be held across the country.

In this edition, three entrepreneurs namely Mok Sdn Bhd, FWC Enterprise and Nek Mok Enterprise received their financing mock-up cheque from PNS.

   
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