Financing Course Set For Small Business Owners
By CT Hj Mahmod

Bandar Seri Begawan - Borrowing money is a common way of raising capital for a growing business; however, obtaining a loan is not always easy for it can be very complex and frustrating.

On the other hand, the ability to secure appropriate financing is the key to successful business start-up and expansion. Unfortunately, many businesses have failed due to two reasons, either because they are under-funded or the inability to properly manage their business finance. Thus, raising capital is the most basic of all business activities.

The inexperience of small business owners often prompts many banks to deny loan requests. In order to maximise Small and Medium Enterprises' access to credit capital, it is vital for business owners to learn how to develop a business plan that can win approval from financial institutions and government agencies to provide the necessary funding.

Acknowledging this challenge faced by SMEs, a programme on `Preparing and Presenting Winning Business Proposals to Raise Financing' will be held.

It will be the second in the series of `Partnership Programme for Nurturing Brunei SMEs, which is supported by the Brunei Economic Development Board (BEDB) and Baiduri Bank in collaboration with Asia Inc Forum.

This two-day programme to be held on August 19 and 20 will raise two fundamental challenges in making business proposals attractive to potential investors. That is, the development of a sound business proposal and the successful communication of the proposal to investors.

These two challenges are intimately linked where the success of business proposals is ultimately judged by the extent they meet the criteria set by the potential investor. These criteria will be based on judgments about risk and potential return.

The objective is to reduce uncertainty associated with a lack of knowledge by carefully identifying sources of risk and rigorously assessing them.

Amongst others, the programme is aimed at identifying what constitutes a winning business proposal, developing a framework for a winning business proposal, applying the framework to the participants' organisations and also developing guidelines for communicating the business proposal.

It is vital for businesses to apply a strongly experimental approach by using a prepared workbook so that the principles introduced can be built up over the duration of the programme. This will help position participating SMEs to apply an effective process in developing and communicating a business case.

This programme is the prerequisite to the first programme- `Budgeting and Cash Flow Management'.

Application form is available from Asia Inc Forum at 2226555 or email nanette@team.asia-inc.com or mazridah@team.asia-inc.com. -- Courtesy of Borneo Bulletin

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