Sabah registers 42 agro-based entrepreneurs
Published on: Sunday, May 08, 2016
Kota Kinabalu: A total of 832 entrepreneurs were registered as of March this year since the establishment of the Fisheries Development Authority of Malaysia's (LKIM) Agro-Based Industry Division.Agriculture and Food Industries Minister Datuk Seri Yahya Hussin said in Sabah alone, there are a total of 42 entrepreneurs in the agro-based industries processing field, involving an allocation of RM265,800.He said the Ministry has outlined various strategic plans for focus groups.
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"Among the programmes are the Change Upgrade Product (CUP) Matching Grant which is funded through the allocation by the Economic Planning Unit (EPU) under the agro-based entrepreneur development programme."The programme is focused on Level 1, 2 and 3 Bumiputera agro-based entrepreneurs with an annual sales of less than RM300,000."The second programme is the High Impact Product (HIP) Matching Grant which is intended for Level 4 and 5 Bumiputera agro-based entrepreneurs with an annual sales of between RM300,000 and RM15 million."As of March 2016, there are six recipients for HIP throughout the country with an allocation of RM545,319," he said during the launching of LKIM Agro-Based Industry Carnival at Oceanus Mall, here, Saturday.
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The other programme, according to him, is the Young Agropreneur In Kind Contribution (IKC) Grant, which is implemented by the Agriculture and Agro-Based Industry Ministry's Young Agropreneur Unit (UAM)."IKC provides a grant of up to 30 per cent of the project cost with a maximum amount of RM30,000 covering sectors like plantation, fishery, livestock and aquaculture and marketing as well as agro-tourism, among others."
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The number of recipients for IKC in the country is 25 entrepreneurs, four of them are from Sabah, with a total allocation of RM375,000.Yahya also reminded local entrepreneurs to be well versed with basic business principles."The global competition requires entrepreneurs to be creative and innovative in creating extraordinary products which should also be coupled with the '4P' marketing strategy – Place, Price, Promotion and Product."This basic marketing strategy should be understood by entrepreneurs so that their businesses will progress," he said.On the carnival, a total of 48 entrepreneurs were involved in the three-day programme, which started on Friday.Stay up-to-date by following Daily Express’s Telegram channel.
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