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Entrepreneur Development and Cooperatives Ministry (Medac) is optimistic that the rebranding of Perbadanan Nasional Bhd, which involves the change of its acronym and logo from PNS to Pernas, will further strengthen the agency’s position as the champion of franchise industry growth in Malaysia.

The rebranding aims to provide a clearer picture to the public on the role of Pernas in the franchise industry, and further addresses the issue of brand confusion with other organisations over the years.

Entrepreneur Development and Cooperatives Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said: “The franchise industry is one of the main sectors, other than cooperatives and SME (small and medium enterprises), for entrepreneurs that has a

significant impact and contributes to the growth of gross domestic product (GDP).”

He said Pernas was also developing SME entrepreneurs towards affordable franchises so that more potential entrepreneurs could venture into the business.

“The franchise business has been regarded as the business model of choice for entrepreneurs since it has a system that is easy to follow and highly effective in developing local entrepreneurs.

“I am confident that it will be able to achieve Medac’s target of producing

100 millionaires a year among SMEs,” he added.

The franchise industry grew at a commendable rate with an increase in annual sales value of 17.3%, which is equivalent to RM13.3bil, compared to RM11bil in 2019.

To date, 1,077 franchise companies are registered, out of which 68 have successfully penetrated the international market and are found in 70 countries.

Meanwhile, Pernas chairman Datuk Zakaria Mohd Edris said that since 2004, the agency had disbursed almost RM1.3bil in funding to more than 5,500 entrepreneurs and created more than 34,000 jobs.

“In line with the rebranding, Pernas will continue to aggressively grow more local franchise brands with the launch of two of its latest projects, called Project Xcelerator and Project “Be Your Own Boss” (BYOB), at the beginning of this year.

“This will hopefully produce five local franchise entrepreneurs and 1,000 franchisees,” he added.

Pernas and the agencies under Medac will work together and support the ministry’s aspiration to create a conducive and inclusive entrepreneurial ecosystem.

The rebranding introduces a fresh new logo and more modern colours that symbolise the support given by Pernas through its efforts to empower entrepreneurs.

Source: https://www.thestar.com.my/metro/metro-news/2021/06/24/pernas-aims-for-clearer-role-with-rebranding