LiveWIRE Brunei organized a forum and Dialogue Session titled "SME funding" on Tuesday, 9th April 2019 at the Muzakarah Hall, International Convention Centre. The session was aimed to provide in-depth information on how to start-up funding and business advice. Present at the event as the Guest of Honour was Yang Mulia Pengiran Haji Mohd Hasnan bin Pengiran Haji Ali Hassan, Permanent Secretary (Industry) at the Ministry of Energy, Manpower and Industry (MEMI).
Also in attendance were Yang Mulia Dayang Hajah Tutiaty binti Haji Abdul Wahab, Deputy Permanent Secretary (Corporate and Industry) ; Yang Mulia Pengiran Haji Jamra Weira bin Pengiran Haji Petra, Deputy Permanent Secretary (Energy and Power) of MEMI; Officials from the Ministry of Education, the Ministry of Primary Resources and Tourism; Yayasan Sultan Haji Hassanal Bolkiah; Brunei Shell Petroleum Sdn Bhd (BSP); Darussalam Enterprise (DARe); Bank Islam Brunei Darussalam (BIBD); Bank Usahawan; LiveWIRE alumni, entrepreneurs and members of the public.
The panel members comprised of Yang Mulia Dayang Hajah Rosita binti Hassan, LiveWIRE Brunei's Board of Directors Chairperson; Mr. Javed Ahmad, Chief Executive Officer of DARe; Yang Mulia Pengiran Sanusi bin Pengiran Haji Ismail, Senior Manager of Corporate Banking of BIBD; Mr. Mukhammadjon Khakimov, Chief Operating Officer of Bank Usahawan and Yang Mulia Ahmad Rithaduddin bin Haji Sabtu, Special Duties Officer of Yayasan Sultan Haji Hassanal Bolkiah. The panelists presented on the available funding schemes and capital assistance offered by their respective agencies. The forum also touched on DARe's role in supporting the growth of local businesses through its accelerate programme and start-up boot camp.
Yang Mulia Dayang Hajah Rosita shared that the LiveWIRE Brunei Business Awards Start-Up Funding Scheme offers a loan that is repayable over 36 months without interest. She added that "sixteen start-up companies received the funding, and have since grown".
Meanwhile, Yang Mulia Ahmad Rithauddin shared that Yayasan provides capital assistance, not loans, with the aim of raising the quality of the citizen's wellbeing. He further explained that "our mission is to change the mentality of targeted groups, as well as to help families out of the cycle of poverty".
Yang Mulia Pengiran Sanusi shared information on BIBD's microfinancing scheme which is a collaboration between BIBD and DARe to finance start-ups and Special Mothers Empowerment Entrepreneurship Development programme (SEED). The panelists also touched on the role of Bank Usahawan which was established in 2017, in providing more than B$4 million to nearly 70 local businesses.
LiveWIRE Brunei was established in 2001 as the social investment flagship of Brunei Shell Petroleum Company Sdn Bhd (BSP), which aims to raise awareness among the local community on the need to diversify the country's economy by participating in business activities.
Yang Mulia Pengiran Haji Mohd Hasnan bin Pengiran Haji Ali Hassan, Permanent Secretary (Industry), Yang Mulia Dayang Hajah Tutiaty binti Haji Abdul Wahab, Deputy Permanent Secretary (Corporate and Industry) ; Yang Mulia Pengiran Haji Jamra Weira bin Pengiran Haji Petra, Deputy Permanent Secretary (Energy and Power) of MEMI during the event. Photo Courtesy of Borneo Bulletin.
The panel members during the forum and Dialogue on SME Funding. Photo Courtesy of Borneo Bulletin