Published: 30 June 2021
This ‘First Close, Last to Open’ (FCLO) recovery programme stands to benefit up to 10,000 entrepreneurs with finance and business support, according to Minister Wan Junaidi.
With the PEMULIH package recently announced, Malaysia’s Ministry of Entrepreneur Development and Cooperatives (MEDAC) said that it will utilise the RM100mn allocated to help affected micro-SMEs (PMKS) in the non-essential sectors or the ‘First Close, Last to Open’ (FCLO) category.
This FCLO recovery programme, a collaboration between MEDAC and two of its agencies TEKUN Nasional and National Entrepreneurship Institute (INSKEN), will provide up to RM10,000 micro-financing, and benefit around 10,000 FCLO entrepreneurs through comprising structured advisory and consultation, coaching and training, financing and progress monitoring.