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Business Regulations & Support System ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM BUSINESS REGULATIONS & SUPPORT SYSTEM ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Introduction Business support system refers to the assistance and services given by the government or private agencies to help entrepreneurs to start a new business or to develop an existing one. There are a lot of business support system provided to the entrepreneur in term of monetary and non monetary facilities. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Approval and Licensing ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Entrepreneur are required to have approval and licensing from relevant government agencies in setting up manufacturing businesses. Manufacturing Licence ►The Malaysian Government under The Industrial Coordination Act (ICA)1975 requires person (s) engaging in any manufacturing activity to obtain a licence. ►This regulation only apply to the manufacturing companies with shareholders’ fund of 2.5m ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM and above or engaging 75 or more full-time employees. ►Manufacturing activity is defined as the making, altering, blending, ornamenting, finishing or any other related activities. ► Applications of manufacturing licence should be made to Malaysian Industrial Development Authority (MIDA). ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM No-Objection Letter for the Location of Projects ► No-objection letter from the respective State Government is require for approval of the project location. ► This letter needs to be submitted to MIDA for the issuance of the manufacturing licence. Approval for Planning Permission ► Application for planning permission is require under Town and Country Planning Act, 1976 (Act 1972). ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM ► Planning permission need for a development and use of all lands and building. ► Planning permission should be made to the local authority such as City Council of Shah Alam (MBSA), Municipal Council of Kota Star (MPKS) etc. Approval for Building Plan ► The Street, Drainage and Building Act 1974 (Act 133) require construction of buildings can only be undertaken with the written approval for the local authority. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM ► Every plan, drawing or calculation in which related to The building must be submitted by qualified person such as architect, draughtsman or engineer. Approval for Certificate of Fitness for Occupation ► All completed building need to be certified as being fit for occupation by the local authority. ► This requirement has been spell out under the Uniform Building by Laws 1984. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Approval for Business Related Licences ► The licences related to factory premises, advertising signage, storage and canteen. ► This licences should be apply through the local authority. Approval for Environmental Control ► Environment Quality Act, 1974 requires the manufacturers to control industrial activities that may result in a new source of effluent or discharge. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM ►The installation of incinerator, fuel burning equipment and chimney also need approval. ►The environmental control and approval are under the responsibility of Department of Environment. Approval for Safety and Health ►Factories and Machinery Act 1967 require manufacturers to obtain design approval of certificate machinery and certificate of fitness ►The application of approval should be send to Department of Occupational Safety and Health. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Excise Licence and Sales Tax Licence ► Excise duties are require for a factory that manufactured goods which prescribe under Excise Act, 1976. ► Excise licence also need for products under this category and should be obtained from Royal Customs Malaysia. ► Customs Department will levied a sales tax on imported and locally manufactured goods. ► A sales tax licence should be apply under Sales Tax Act, 1972 ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Infrastructure Facilities ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Industrial Estates ►Industrial estates has been developed by State Economic Development Corporations (SEDCs), Regional Development Authorities (RDAs), port authorities and municipalities. ► Currently there were over 200 industrial estates were developed by those agencies and the new ones are continuously planned to meet the demand of industrial land. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Free Industrial Zones (FIZs) ►Established for manufacturing companies that produce or assemble products mainly for export purposes. ►The manufacturing companies in FIZs enjoy minimal customs formalities and duty free import of raw materials, component parts, machinery and equipment. ► They also have a minimal formalities for export their finished products. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Licensed Manufacturing Warehouses (LMWs) ►The purpose of LMWs is to encourage the dispersal of industries and to enable companies to enjoy FIZ facilities in areas where it is neither practical nor desirable to establish FIZs. ► In order to get an approval for LMWs the companies should have at least 80% of their production meant for export and raw materials or components are mainly imported. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Electricity and Water Supply ► Electricity for Peninsular Malaysia supply by Tenaga Nasional Berhad (TNB) while for Sabah and Sarawak are Sabah Electricity Sdn. Bhd. (SESB) and Sarawak Supply Corporation (SESCO) respectively. ► In term of water, it has been treated according to the World Health Organisation (WHO) standards for drinking and supply by state water department and water supply companies. ► Water costs are low and vary from state to state. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Telecommunication Services ►Provided by Telekom Malaysia Berhad and other network service providers. ►There are six internet service providers which include TMNet, Jaring and MAXIS Net whose help the government to promote information based industry. ► Malaysia’s also entry into space age communication through the launching of MEAST-1 and 2 and Tiungsat-1 in 1996 and 2000 respectively. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Sea Ports, Cargo Transportation, Highway and Railway Services ►Sea ports has modern facilities and equipment to facilitates full range of cargo handling. ►Cargo transportation provide comprehensive containerised cargo transportation services. ►The Malaysian Highway Authority provided latest design of expressways which link to all major townships and potential development area. ►Railway services operates by Keretapi Tanah Melayu (KTM) with the capacity to transport goods ranging from grain to machinery. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Multimedia Super Corridor (MSC) ► MSC was established with the aims to revolutionise how Malaysians and others in the region conduct commerce in the digital age. ► MSC governed by groundbreaking Cyberlaws, policies and practices that enable operating companies to harness the full potential of Information Communications Technology and Multimedia. ► The ultimate aim of MSC is to attracts multimedia companies locally and internationally to become world class over time. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Financial Assistance ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Financial Assistance for Entrepreneurs Financing is needed by entrepreneur for sustainability and development of business. ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Purposes of Financing 1. Strengthening skills of workforce 2. Entrepreneur development 3. Marketing & Promotion 4. Product Development & Quality accreditation 5. Technology development 6. Debt restructuring 7. General ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Types of Financing 1. Soft loan 2. Grants 3. Equity financing 4. Venture capital 5. Guarantee scheme 6. Tax incentives ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Who Provide the Financial Assistance? Two main provider for financial assistance are ministry and agencies. Ministry 1. Ministry of Entrepreneur and Co-operative Development (MECD) 2. Ministry of Science, Technology and Innovation (MOSTI) Agencies 26 agencies ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Ministry of Entrepreneur and Co- operative Development (MECD) Financing scheme under MECD: 1.ASEAN- Japan Development Fund 2. Equity Financing 3. Franchise Development 4. Skim Pembiayaan Pusat Negeri (SPPN) ENT/ETR300 – FUNDAMENTALS OF ENTREPRENEURSHIP BUSINESS REGULATIONS & SUPPORT SYSTEM Ministry of Science, Technology and Innovation
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