SIBU: The newly-minted `Young Entrepreneur Fund’ reflects BN’s sincerity in wanting to help uplift the standard of living of the people.
Assistant Minister of Youth Development Abdul Karim Rahman Hamzah, who said this yesterday, however, hoped the scheme would be made available to all young Malaysians and not confined to Peninsula only.
“The new initiatives announced by Prime Minister Datuk Seri Najib Tun Nazak are additional programmes to help young entrepreneurs and the needy.
“This initiative via a special fund worth RM50 million, known as Dana Usahawan Muda, is meant to provide funds for youths aged 18 to 30 years old to start their business.
“I applaud the set up of this fund and it reflects the sincerity of the BN government to help and uplift the standard of living of its citizen … whether young or old,” Asajaya assemblyman Abdul Karim told The Borneo Post when asked for his comments on the new initiative announced by Najib in Ipoh on Friday.
He added that the special fund would greatly benefit young entrepreneurs.
Bernama quoted Najib as saying that the Young Entrepreneur Fund was set up to assist youths aged 30 and below to start business.
Meanwhile, SME Bank managing director Datuk Mohd Radzif Mohd Yunus reportedly stated that the RM50 million fund would provide financing of RM50,000 to RM100,000 to those eligible with a repayment period of up to seven years, including one year grace period.
Earlier, Temenggong Vincent Lau Lee Ming also lauded the move, saying that it would provide youths the springboard to start their business.
“In other words, youths interested in doing business will be provided with a working capital to realise their dreams,” he said.
Lau, however, stressed that having working capital alone was inconsequential to ensure a successful business endeavour, adding that qualities such as determination, leadership skills, commitment and high work rate were equally important.