Bank Islam Brunei Darussalam (BIBD) unveiled its revamped and refreshed SME 360° to serve the local business community better through a virtual media conference yesterday.
Through the implementation of an upcoming microsite web platform and community engagement campaign to help micro, small and medium-sized businesses recover from two years of pandemic-related problems and better serve the business community.
BIBD hopes the SME360° series offers assistance in the growth of a more vibrant, dynamic and sustainable entrepreneurial scene through the “BIBD SME360° Series” while at the same time playing a part in the sustainable rebound of small business in Brunei, in line with the Bank’s role as a Partner in Progress.
The campaign will provide new and seasoned entrepreneurs with knowledge, resources, and an extensive support network to help them make 2022 a successful year.
BIBD’s Head of Corporate Banking Group, Mr Koh Swan Sing, said, “BIBD’s strategic vision has always aligned with His Majesty’s Brunei Vision 2035 and recently, through our Sustainability Framework, we hope to complement the government’s efforts to achieve the United Nations Sustainable Development Goals (UN SDGs) by creating a holistic plan that contributes towards lasting economic growth, community empowerment, healthier lifestyles and more environmentally conscious production and consumption”.
He added, “It is no secret that success in the small and medium-sized business space is integral to a healthy and competitive economy, and as the nation’s largest financial institution, we have a responsibility to support the more than 6,000 registered SMEs in the country and foster the growth of many more in the in the coming years”.
By highlighting ten critical industries in which local startups operate, including food and beverage, service industry, education, fitness, tourism, construction, and oil and gas, the SME360 platform will use the new microsite to serve as a Startup Toolkit and Knowledge Hub, providing information, directories, and guides on how to navigate the process of establishing and maintaining a business in Brunei.
By adding a library of valuable resources, BIBD hopes to assist entrepreneurs in overcoming some of the barriers they face and to encourage more of Brunei’s youth to start successful businesses.
Business thought leaders, industry experts, and relevant stakeholders will be invited to participate in a 10-part series of virtual forums to discuss common challenges, share best practices, and exchange market insights to establish business opportunities in and outside of Brunei. BIBD will collaborate with Firelight Sdn. Bhd. and Curious Minds Sdn. Bhd. in this campaign.
The collaborative effort also draws on the experiences and efforts of the award-winning Community for Brunei, BIBD’s community based social enterprise set up during the early days of the first wave to help small businesses reach their customer base digitally and at a distance.
This initiative will expose the community to new opportunities for skill-building, eco-projects, and health programs.
BIBD called for established and future entrepreneurs to use valuable opportunities of the SME 360° microsite and SME360° forum to be launched in early January 2022 to generate more sustainable and lucrative businesses.