Rakyatpreneur programme to help Asnaf, B40 groups in growing their business

KUALA LUMPUR: Bank Rakyat is conducting a pilot programme called Rakyatpreneur to assist more Malaysians, especially from the asnaf (eligible tithe recipients) and low-income (B40) groups, in growing their businesses that have been affected by the COVID-19 pandemic.

Entrepreneur Development and Cooperatives Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said although the country's economy was expected to improve this year following the national vaccination programme's launch, there were still affected businesses that currently could not operate fully due to the Movement Control Order (MCO), Conditional MCO and Recovery MCO nationwide.

Hence, he said, the Rakyatpreneur programme complemented his ministry's efforts to assist B40 entrepreneurs, including those in the informal sector, who had been badly affected by the pandemic.

"The COVID-19-induced situation strongly tests entrepreneurs' ability to carry on with their businesses, calling for mental and emotional stability to deal with the difficulties," he said when launching the programme virtually today.

Meanwhile, Bank Rakyat chairman Datuk Abd Rani Lebai Jaafar said the programme, which began in December last year, had 20 participants comprising small and medium enterprise entrepreneurs with an average monthly salary of RM1,000 to RM3,000.

Each Rakyatpreneur participant receives a capital injection of RM5,000 and is given entrepreneurial training via webinar from implementing partner, the National Institute of Entrepreneurship (INSKEN).

"All participants have undergone a basic entrepreneurial module, social media marketing programme and business model canvas from the start and this will continue until the programme ends," said Abd Rani.

He said periodic monitoring would also be carried out to ensure the participants acquired the understanding and skills as well as direct guidance in managing their business competently and systematically.

Bank Rakyat, he added, would continue the programme in July (Rakyatpreneur 2.0) on a larger scale involving more than 200 participants.

Rakyatpreneur 2.0 participants will be given training and guidance as well as monitoring for a year, and a more comprehensive module is being prepared to create entrepreneurs from the asnaf group who can stay relevant amid the competitive marketplace.

Hence, various Rakyatpreneur 2.0 programmes and initiatives will be done in collaboration with local universities, government agencies and experienced entrepreneurs.

"The strategic partnerships will improve the Rakyatpreneur programme and are expected to increase the participants' income by at least 30 per cent and create more job opportunities in the future," he said.

-- BERNAMA