News & Events

[ 17-10-2013 ]
Malaysia’s support of franchising lauded

The availability of the Franchise Micro-Financing Scheme from Perbadanan Nasional Bhd is a positive move taken by the Malaysian Government in its bid to stimulate the economy.

World Franchise Council (WFC) general secretary Graham Billings said the financing of smaller franchise-type businesses can contribute to the nation’s Gross Domestic Product.

“With micro-financing, prospective entrepreneurs can venture into micro-franchising which offers systematic and less risky businesses with only a small investment.

“This offers those in the lower-income group the opportunity to venture in business and learn a trade,” said Billings during an interview recently.

He added that Malaysia came in third in the list of countries worldwide that support micro-franchising and applauded the Government’s move.

On the recent WFC meeting, which ended on Sept 19 in the Putra World Trade Centre (PWTC), Billings said four main topics were discussed.

“The areas include the development of and the use of social media by the franchise associations and its members worldwide, training and education services for franchisors and franchisees, impact of e-commerce on franchise systems and the development of databases of information for franchise systems worldwide,” said Billings.

He added that the development of databases would be a key area for WFC to achieve and upon completion would be a significant contribution to the franchise industry.

Out of the 45 WFC members worldwide, 25 representatives attended the two-day meeting held at PWTC, Kuala Lumpur.

Billings said the Franchise International Malaysia Exhibition held from Sept 20 to 22 also showed good participation from a pool of exhibitors.

“The exhibition was very vibrant and it was very encouraging to see the number of exhibitors has increased compared to last year,” he said.

He added that Malaysia has definitely put in a huge amount of effort in playing host for the Asia-Pacific Franchise Council (APFC) and WFC meeting this year.