A shout out to all Perakean female entrepreneurs and aspiring ones, the state government is offering grants amounting up to RM20,000 via Sisters in Business (SIB). In collaboration with Axiata Young Talent Programme, it was launched by Wong May Ing, the Executive Councillor for Women and Family Development, Character Development and Social Welfare on Tuesday, July 23.
SIB is a first-of-its-kind microfinance initiative complete with mentoring along the way to equip beneficiaries with entrepreneurial knowledge such as basic bookkeeping and business management skills. A catalyst to improve Perakean women’s socioeconomic status, the scheme does not involve any interest, charge or collateral in order to prevent financial pressure.
According to Wong, a total of RM200,000 has been allocated and by the end of August, at least 10 beneficiaries will be selected, to start with. SIB provides financing for one and a half years for ladies who wish to start their own business or expand an existing one.
“It can be any type of business, for instance, those by social entrepreneurs. We prioritise innovative and creative ones,” Wong explained.
Application is now open until August 23 with the following eligibility criteria:
- Female Malaysian citizen
- A resident of Perak State for at least five (5) years
- Between the age of 18 to 55
- Owner of an SSM-registered business OR a high-potential business plan
- Monthly household income below RM5000.
Once chosen, applicants must attend all the seminars and meetings arranged by SIB, be committed to managing business full time, register business with SSM (Companies Commission of Malaysia) and create a new bank account.
Eligible women can apply via Sisters in Business Facebook page and a phone interview by the SIB committee will ensue.
For more details, interested readers can call 019 9072601 or email contact_SIBOfficial@gmail.com