bidayuh dotcom [Reference Page]

Reference And Concepts

1. Business Networking

2. What The Most Successful People Have In Common?

3. Bumiputera Entrepreneur in the Retailing Sector Projects (PROSPER)

4. Bumiputeras have 36 types of loan facilities for business?

1. Business Networking

The purpose of business networking is to exchange good business referrals that produce continuing and expanding business success, individually and collectively.

A Business Association is normally dedicated to maximizing the use of time and resources by both giving and receiving good business and professional referrals.

It should be a vibrant group of success-oriented business people and are dedicated to increasing their business success by providing referrals to its member.

Socializing include common activities such as a weekly breakfast/lunch meetings where members discuss common problems, inform the group about their businesses and provide information of general interest.

"NO MAN IS WISE ENOUGH BY HIMSELF "
Philosophy by Plautus explains, 'The people in our fellowship come together with a single purpose: the desire to remain sober. We are of various backgrounds and different races. Some of us are rich, while others have lesser money or no money at all. We're all so different, yet we share a common bond: we seek sobriety. Separately, the task is insurmountable, but together we are powerful in our quest. What one of us lacks in hope and strength we find by coming together within this fellowship. Each member offers a link connecting the other. Broken, the chain is useless. Together, the strength and beauty of each link is made even more powerful.'

2. What The Most Successful People Have In Common?

Have you ever considered what the most successful people in business, sports, politics, even entertainment have in common?

Yes, they do have a great attitude, discipline, and determination.

But that is not all!

They also rely on the help of a coach, a knowledgeable and trusted advisor or even an entire group of supporters that pulls and pushes them toward accomplishments. Success without this kind of support is difficult to achieve.

3. PROSPER scheme to help Bumi entrepreneurs ?

Bumiputera entrepreneurs now could scout for business opportunities in the retailing line without overly worried over the factors that usually cause them to shun the idea of venturing into the business.

This was mentioned by deputy general manager of the Bumiputera Entrepreneur in the Retailing Sector Projects (PROSPER) secretariat Abdul Jammi Abdul Karim when giving a talk on the scheme during a Sarawak Bumiputera Entrepreneur Convention in Kuching recently.

"The government is keen to help the Bumiputera entrepreneurs to actively involve in the retail business and as a result it has devised a scheme known as PROSPER scheme which aims to integrate and monitor various aspects of business so that the Bumiputera participation in the retailing business could easily facilitated," he said.

Explaining on what he meant by 'various aspects of business,' he said that is included business premises, capital, loan, business opportunities, management of accounts and cash flows, adequate training and coordination of the scheme.

He added "the success in the retailing business largely depends on the strategic location of business premises and this has been identified as one of the factors that hinders Bumiputera entrepreneurs from actively participate in this kind of business since the prices of the business premised are usually beyond their reach."

"The PROSPER scheme could help the genuine Bumiputera entrepreneurs to buy the desired premises," he said.

Explaining on how the scheme works, he said that "a company, TPPT Sdn. Bhd, which is owned by Malaysia Central Bank (BNM) and a number of commercial banks, would buy the desired business premises and later lease it to the Bumiputera entrepreneurs half of the prevailing market price in the first three years."

"This is to allow the Bumiputera entrepreneurs to stabilise the business in the initial stage of operation before finally offering them an option to buy the property or business premises from TPPT Sdn Bhd at any time they want."

Touching on the capital facility, he said that PUNB has devised an equity supporting scheme, which is based on the Islamic principle, to enable the Bumiputera entrepreneurs to get the desired amount of loan for business purpose.

Explaining on the scheme, he said that PUNB would use its money to help the Bumiputera entrepreneurs to raise his capital to a desirable level which would be used by participating banks as a basis for determining the loan amount, i.e. by gearing the capital by 1.5 times.

"Let's say that Ali has only RM30,000 and he is keen to do a retailing business that would require RM300,000 as its initial capital. Knowing the fact that participating commercial banks would gear up his available cash money 1.5 times, that is to determine the loan amount that could be given to him, PUNB would chip in RM 90,000 in order to raise Ali's capital into RM120,000. As a result of this, the commercial bank would give a loan amounting RM180,000 which is as a result of gearing the RM120,000 available capital," he explained.

"Now, with the loan of RM180,000 from the bank, Ali has RM300,000 to start off the retail business," he quipped.

According to Abdul Jammi again, in the initial stage, a retail business which uses this facility would be considered belong to PUNB.

"At this stage the Bumiputera entrepreneur would be regarded as a staff of PUNB and the profit made by the business would be used to buy back the PUNB's equity. Once all of the equities have been bought back by the Bumiputera entrepreneur, the business is his," he added again.

Realising on the importance of strong financial resources to ensure the success of the business, according to Abdul Jammi, another scheme has been devised whereas Credit Guarantee Corporation (CGC) would give its guarantee up to 100 percent on any loan disbursed under the PROSPER scheme.

"With this method, banks such as MayBank Berhad could decide on the risk amount that it is willing to take…the higher is the risk, the higher is the service charges," he elaborated again.

The types of retail business which is under the purview of the scheme are, among others, grocery shop or mini market, electric and electronic shop, pharmacy, restaurant or bakery, telecommunication shop, souvenir shop, furniture shop, bookstore, stationery shop, studio, optical, petrol kiosk, watch shop, car or motorcycle workshop, car or motorcycle dealer and hardware shop.

Touching on the challenges that could hinder the scheme from producing successful Bumiputera entrepreneurs, Abdul Jammi said that "one of the challenges is to identify genuine entrepreneurs based of pre-requisite requirements because the failure percentage in the first 5 years is very high, i.e. 80 percent."

He also said that it is not easy to find strategic premises according to the type of retailing business that the Bumiputera entrepreneurs involve in. "The rental is not only extremely high but at the same time we could not get it if there is no cooperation from the local authority," he added.

With regards to a third challenge (price and supply), he said that his secretariat had to use a long term and comprehensive approach as to help the Bumiputera entrepreneurs compete on these two bases.

Finally the secretariat had to think on how to finance the scheme because it was required to produce at least 2,000 retailers in a period of 2 to 4 years. "If the allocation is RM500,000 for each retailer the sum required would be RM1 billion and it would easily reach RM2 billion if the allocation is increased to RM1 million for each retailer."

"This figure doesn't include other costs such as administration cost," he quipped.

Those who are interested to know about the PROSPER scheme could contact the following address: Sekretariat PROSPER, Perbadanan Usahawan Nasional Berhad (PUNB), Tingkat 18, Wisma UOA II, No 21 Jalan Penang 50450 Kuala Lumpur. Or email to prosper@punb.com.my.

4. Bumiputeras have 36 types of loan facilities for business?

THE BORNEO POST, SUNDAY, APRIL 29, 2001

MIRI, Sat. - Bumiputeras in the state have 36 types of loan facilities to get financial help for business undertakings.

Miri Branch of Dewan Usahawan Bumiputera Sarawak (DUBS) or Sarawak Bumiputera Entrepreneurs Chamber chairman Abdul Samad Mohd Ali thus pointed out that the question of Bumiputera entrepreneurs not able to get load from banks should not arise as long as the applications meet certain criteria.

Those who fail to get the loans should look into themselves and not find faults in others or pointing their fingers at the government or banks, said Samad in his opening speech at the Talks and Dialogue by the Representatives from Banks, Sarahon Constructions Sdn Bhd and Audit Firms at DUBS office here today.

Also present was the DUBS chairman Datuk Abang Haji Abdul Karim Tun Abang Haji Openg.

Samad said the common problems which disqualify those to secure loans are the lack of the required detailed information and also no collateral like land.

He believe genuine and enterprising Bumiputeras should face no obstacle in getting financial assistance to develop their business.

He thus hoped that the talks and dialogue held today could clarify a lot of matters in this connection.

Samad advised Bumiputera entrepreneurs who are already doing well in their business to strive even harder to do better.

"For example, if you already have Class F licence, try to get A licences to expand your business. In Miri, not many Bumiputeras own A licence and there are ample opportunities for such licence holders. So, aim to get it so that you can go for the bigger challenge," he urged

He said business thrives on competition, and one only has oneself to blame if he or she fails to survive in the economic world.

Sixteen supreme exco members of DUBS in the state attended the event which was also held in conjunction with its Annual General Meeting. - BP

©2000-2001 . All rights reserved.

Material from this site may not be published, broadcast, rewritten or distributed. All reproduction or redistribution is expressly forbidden without the prior written agreement of

Back