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 Business

TUBE, a way forward for young entrepreneur dreams

10th March, 2018

KUALA LUMPUR: Many youngsters have dreams of building their own empires, but the majority of them do not know the way forward.

According to SME Corporation Malaysia (SME Corp), its Bumiputera Youth Entrepreneurship (TUBE) Programme is one of the avenues that can be used by those who dream to be entrepreneurs but hit a road block due to the lack of knowledge.

It said in a statement that in line with the National Transformation 2050 (TN50), TUBE sets out to complement the government’s Bumiputera Wellbeing Transformation Agenda due to its inclusivity and involvement of the Bottom 40 income group.

TUBE consists of three phases of training – Phase 1: Test the Perseverance of Mind and Physical; Phase 2: Increase Knowledge – Effective Business Operations; and, Phase 3: Guidance of Effective Business (Buddy System).

From TUBE’s inception in 2014 till end-2017, a total of 2,433 youths participated in the programme, with 2,419 businesses registered with the Companies Commission of Malaysia to-date. The programme has created 4,414 job opportunities with cumulative sales of RM54.6 million.

The TUBE programme not only teaches participants how to start their businesses, but there is also continuous monitoring and guidance following the 12-month programme; an established TUBE society for participants to expand their network; developed TUBE applications to disseminate information; monitored businesses; and, additional monitoring by banks in account management.

The programme, based on the National Blue Ocean Strategy concept, has received ongoing support from 35 strategic partners, including various ministries and agencies at the federal and state levels, banking institutions, non-governmental organisations and the private sector.

By 2020, TUBE is expected to generate over 37,000 job opportunities and a cumulative sales value of RM1.1 billion, contributing RM449 million to the nominal gross domestic product. At the same time, it is expected to increase the number of annual participants to 3,000 in 2019 and 5,000 in 2020.

This year, TUBE 5.0 has received 32,577 online applications. However, total participation is capped at 2,000 at the 16 National Service Training Programme camps nationwide. –Bernama

   
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