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Brunei: MSME’s Urged to Upgrade into SME’s
Global economic uncertainty, stiff competition and the urgent need to elevate micro, small and medium sized entrepreneurs (MSMEs) are some of the major challenges faced by Malay businesses in the country.
Speaking on the sidelines of the annual general meeting (AGM) for the Federation of Brunei-Malay Entrepreneurs (PPPMB) yesterday at the Design and Technology Building in Kampong Anggerek Desa, its President Dr Haji Abdul Latif bin Haji Chuchu told the Media that these MSMEs should not confine themselves to being at the micro level forever or to being stuck selling at food stalls, but to upgrade their status by moving towards becoming small and medium enterprises (SMEs).
“With the establishment of DARe (Darussalam Enterprise), where my portfolio is in SME development, there are vast opportunities available to tackle problems like the fate of food stall vendors in Gadong. Now we see tremendous development – such as with the construction of a new building in the area,” he said.
At the AGM, Dr Haji Abdul Latif pointed out that food stall businesses (MSMEs) at Gadong are monopolised by Malays. However, this is not the case in SME businesses, which are mainly monopolised by other ethnicities.
“We encourage more youths to engage in business. We have sent over 20 to China for training, while 31 young entrepreneurs have been sent to Japan to undergo courses. Business and economy should be the first choice and should be dominated by Malays,” he said.
He noted that PPPMB has organised courses such as in business and accounting, as businesses today are unlike they were 30 years ago, with accounting knowledge being crucial.
“In March, we are going to conduct a Food Processing and Marketing course and we hope participants will make use of this valuable course to export their products overseas or to sell them locally,” he said.
The federation is also a member of OISKA (based in Japan) and in the long run, PPPMB is planning to manage light industries in Beribi and carry out industrial activities on a 22-hectare site in Kuala Lurah, where an Italian company is mulling stationing a helicopter and light aircraft industry.
Dr Haji Abdul Latif highlighted the need for unity among members so as to further develop the federation.
“We hope it progresses for the sake of the Malay entrepreneurs. There should be no backstabbing among members and discussion should be held in a positive manner, without baseless accusations or finger-pointing,” he said.
Back in 1998, the federation had 25 registered members. Today, that figure stands close to 400, with strong involvement from youths who have become successors of businesses. Veteran businesspeople are rare nowadays with more of them becoming consumers.
Meanwhile, PPPMB Chairman Haji Mohammad bin Mokti said business should be the first choice. Over the past seven years, the federation has moved ahead as an organisation despite the highs and lows faced by members.
Source: https://www.brudirect.com/news.php?id=22286