Bumiputera entrepreneurs invited to join programme on biz empowerment

KUCHING: Sarawak and Sabah Bumiputera businesses are invited to join ILTIZAM Catalyst programme to empower their business to a higher level.

According to its Entrepreneurship manager Nur Muhammad Safwan Azman, in the effort to aid businesses in Borneo, the programme puts its focus in addressing four common challenges faced by Bumiputera small and medium-sized enterprises (SMEs) namely financial and compliance, branding and digital marketing, digital and technology adoption, and leadership.

“By the end of the programme, our key performance index (KPI) aims that participating businesses will be able to improve clarity of business direction, improve financial strength and business compliance, and increase product profitability.

“Not only that, they will also be able to improve their brand presence and business visibility, and improve entrepreneurial and leadership capabilities.

“These KPIs are designed mainly to evaluate the effectiveness of assistance within our programme pillar,” he said.

He said this during the Ekuinas media luncheon at Hilton Hotel yesterday.

In light of this, he said that participants for the programme are selected based on their present business strength, and demonstrating immense passion to steer their business towards potential growth.

Following this, he disclosed that since the programme’s establishment in 2022, 38 participating SMEs have shown significant improvement upon completion of the programme.

“Out of the number, 12 per cent of the companies have achieved our aim while 41 per cent achieved at least four of our KPIs,” he said.

With the positive outcome for the programme, Muhammad Safwan said that ILTIZAM Catalyst 2024 is now spreading its wings to Sarawak and Sabah Bumiputera businesses.

He added that for this November intake, the programme’s application will be closed on Aug 31.

“For those interested in joining our programme, you may apply following the terms of application, namely businesses must be registered under Companies Commission of Malaysia (SSM) or equivalent; annual income between RM300,000 to RM1 million with record profits for two consecutive years; and Bumiputera share ownership of at least 51 per cent.”

For the record, ILTIZAM is a corporate social responsibility programme by Ekuinas established with the purpose to serve and bring positive impacts on Bumiputera entrepreneurs.