Women Seek Easy Loan Access
By Sobrina Rosli

Bandar Seri Begawan - Women entrepreneurs are seeking help from the Government in making financial institutions simplify their loan application processes for small and medium enterprises and businesses owned by women.

The Brunei Women's Business Council (WBC) has raised the matter as a follow-up to commitments made by government representatives at the recent Apec meeting in Vietnam, which highlighted the need to help promote entrepreneurship among women.

"Getting loans from banks or finance companies is not easy because they impose many requirements," said Major (R) Sopiah Husaini, president of WBC.

Businesswomen in Brunei are eligible for loans of up to $30,000 each from banks for setting up micro- or home-based businesses, but many of them are facing difficulties in obtaining such loans, she told The Brunei Times yesterday.

"Banks and finance companies should be less conservative and simplify their procedures to make it easier for SMEs and women-owned businesses to get access to loans,"she said, adding' that this would help realise the goals set at the Apec women Leaders' Network meeting.

Moreover, even though some micro and home-based enterprises have been in operation for many years, they still experience difficulty in obtaining licenses for new businesses and locations, Sopiah said.

"We are trying to facilitate business opportunities for women in Brunei through the building of strong linkages with policymakers and stakeholders to overcome these barriers," she said.

She added the WBC also wants to help improve business women's access to training in finance, accounting and management, so that they will have the skills to improve their cash flow.

The Ministry of Industry and Primary and Resources' is considering using its Resource Centre as venue for training sessions for businesswomen.

She said the WBC would also help improve the networking of women's micro- and homebased businesses for them to get better access to domestic, regional and international markets.

By profiling women's microand home-based businesses, for example, the WBC will be able to broaden their networks and make it easier for them to establish contacts with policy makers, chambers of commerce and financial institutions, she said.

Sopiah Husaini led Brunei Darussalam's delegation to Apec's 11th Women Leaders' Network meeting in Hanoi.

The meeting had the theme "Towards Dynamic Community: Enhancing the Competitiveness of Women Business for Sustainable Development and Prosperity".

Brunei's delegation to the meeting included WBC secretary Mordiah Jackia, WBC executive member Hamidah Ahmad and Women Council representative Siti Zaleha Kaprawi.

The meeting was held at the sidelines of a ministerial meeting of the Asia-Pacific Economic Cooperation forum, which groups Pacific Rim countries including Australia, Canada, Chile, China, Hong Kong, Indonesia, Japan, Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Taiwan, Thailand and the United States.  -- Courtesy of The Brunei Times

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