Entrepreneurship Development in Malaysia

2543 WordsSep 19, 200911 Pages
1.0 INTRODUCTION Agriculture is Business. The call is clear and strong, reflecting Malaysia's aspiration to turn agriculture into the third engine of growth and to make the country self-sufficient in food by 2010. This programme adopted by successful agropreneurs in the process of transformation from farmer to agropreneur is the creation of more added values to the products in terms of improvement in nutritional contents and taste. The transformation process is set to modernize and create business opportunities throughout the entire value chain in agriculture and food production sector including the related supporting industries. Business activities in agriculture involve production of primary products, downstream or processed…show more content…
Besides knowledge and technical knowhow, the availability and management of financial resources is another critical factor in an agribusiness. For those involved in crop cultivation for example, sufficient fund is necessary to sustain the business during the initial non-productive period as well as the overall operating cost. An entrepreneur is expected to generate his capital either from his own saving, through shareholder's contributions or loans from financial institutions. An important source of fund for the agropreneurs is Bank Pertanian Malaysia. The bank provides various types of loans, such as the Fund for Food (3F), Food Production Credit Scheme and the Small and Medium Enterprise Scheme targeted for the downstream and product processing business. For those involved in nonfood products, such as ornamental fish breeding, floriculture and herbal preparations, a scheme called the Non-Food Agriculture Development Scheme is available. In an effort to encourage the younger generation especially those with degrees to venture into agribusiness, the bank has established a special scheme to fund commercial agriculture projects by graduate agropreneurs. Incentives and grants are also provided by some states to support their commercial agriculture and agropreneur development. Similar incentives
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