1st of August 2018 marked another milestone for woman entrepreneurs in Malaysia when YB Rina binti Mohd Harun, the Minister at Ministry of Rural Development launched the new initiatives named WISE – Women as Economic Inspiration. The program under Majlis Amanah Rakyat (MARA), an agency under the ministry, has introduced a few schemes to support the women entrepreneur from 8 clusters of identified businesses.
In her inaugural speech, YB Rina Harun has lauded the rising of women entrepreneur which formed 37% of the total registered business in the country. Entrepreneurship has been identified as one of the key growth in the nation’s economy, and with women in economy, it added to the vibrancy and creating a competitive scenario. To support and to enhance this development, MARA has allocated MYR 25million for women entrepreneur.
The fund, named DanaNITA has about MYR 20million for financial capital which will benefits 400 women entrepreneurs in Malaysia to be more aggressive in their business. In 2017, a sum of MYR 10million has been distributed and based on the performances, the amount has been doubled in 2018. MARA has been the pillar to support the growth of bumiputra economically. To complement the dynamic ecosystem, MARA has also accommodated a facility for business finances from minimum of MYR 10k to maximum of MYR 5million. Among the scheme is PUTRA Financial Scheme, Mudah Jaya scheme, Express Contract and Industrial Chain Program.
The DanaNITA schemes promised for a more supportive and women friendly approach, with special privileges and exceptions to a few basic requirements. It is also flexible where the entrepreneur does not necessarily have to have a business premises. Those who conducted business online or homebased are also eligible for selection.
Among the components in WISE program is the Entrepreneur Seminar, Sales Carnival named as WOW Crazy Sale and thirdly the WISE Gallery. On the day itself, participants were delighted to have session with pioneers, business founders and established lady entrepreneur. The sharing sessions helped to instil confidence and for knowledge exchange between the mentor and the mentee. In fact, one of the thing stressed in her speech is the bamboo network, where entrepreneur will help other entrepreneur in the business commodity.
There will be roadshows to promote WISE at 7 locations; namely Penang, Perlis, Selangor, Sabah, Pahang, Kelantan and Terengganu. Hopefully, with WISE in the picture, the future of women entrepreneur will shine brighter.