Thailand
Brunei: Record keeping can help SMEs attract investors, expand operations
Brunei: Record keeping can help SMEs attract investors, expand operations
FRIDAY, AUGUST 12, 2016 – PROPER record keeping can help local entrepreneurs attract foreign investors and expand their business overseas.
Siti Nur Quthairah Shah Johan, a finance officer from the Ministry of Finance (MoF), said maintaining and keeping proper records of transactions will show potential investors that the entrepreneur is serious in running the business.
?You need to prove to your potential investors that you are genuinely using the money to run the business. Proper record keeping of transactions will be attractive to potential investors,? she told The Brunei Times on the sidelines of the workshop on record keeping organised by Darussalam Enterprise for its six-month programme Industry Business Academy.
She said under the Record Keeping (Business) Order 2015, all businesses are required to maintain and keep records of transactions.
Siti Nur Quthairah said unlike the younger entrepreneurs, some of the old generation entrepreneurs are not aware of the importance of keeping records such as books of accounts recording receipts, payments, income and expenditure.
She said record keeping can help in financial planning, decision making, obtaining loans and grants and equitably distributing profit among shareholders.?Read More?