Concerted effort needed to assist Indian entrepreneurs but through Govt mechanism and not through MIC

February 21, 2012

Many Indian entrepreneurs have sound business models but are unable to carry on or expand their business due to an inability to access working capital or funds to operate their business.

I laud the government’s 2012 budget allocation of RM100 million under the Amanah Ikhtiar Malaysia where micro businesses have access to loans and mentoring up to RM5,000, especially for women.

Similarly government loans also helped Indian businesses through the Tekum micro credit loan up to RM30,000 but most of the loans was given out to MIC members, their families, relatives and cronies but the real Indians who was desperate to receive those loans were denied.

MIC hypocrites have done it again.

However, there are many medium level businesses that require funding and assistance in nurturing and tracking them and taking them to listing status.

Also, these companies require funding ranging from RM500,000 to RM3 million. Concerted effort by the government is needed to nurture and assist Indian businesses through government organization such as PNB

The government needs to look at the model similar to Teraju, Skim Jejak Jaya Bumiputera and Teras 100 to really focus on addressing the woes of Indian businessman.