More than 100 local youths attended the Brunei Economic Development Board’s (BEDB) ninth Engagement Series on October 15 to learn about financing options and support available to help them start and grow their businesses.
Held at the Main Auditorium of the Design & Technology Building, the session featured Bank Usahawan’s BizBelia financing product, which offers one of the bank’s lowest profit rates, alongside sharing sessions by young entrepreneurs who have benefited from the facility.
The BEDB Engagement Series is an outreach initiative that connects local entrepreneurs with relevant institutions, industry players and business support providers to raise awareness of available resources and business opportunities.
Image: BEDB
Image: BEDB
BizBelia provides financing of up to B$5,000 over a 24-month tenure to support business needs, including equipment purchases, inventory, marketing, renovations and other operational expenses. Complete applications are processed in under two weeks.
Bank Usahawan CEO Dato Seri Paduka Haji Mohd Roselan Haji Mohd Daud said the bank adopts a supportive approach to help young entrepreneurs navigate the application process and strengthen their business proposals.
“For young entrepreneurs who have difficulty understanding the requirements, we work with them to prepare stronger proposals rather than simply rejecting them,” he said.
Image: BEDB
Image: BEDB
He added that support continues beyond the initial financing through the bank’s Business Handholding Programme, which monitors business progress and connects entrepreneurs with relevant agencies, including BEDB, for further assistance.
As their businesses develop, BizBelia recipients may also access larger financing facilities to support their growth.
The session featured three BizBelia recipients, WeNature Company, Sua (By Sebancuh) and Mase Company, who shared their experiences and how the financing helped them establish their businesses.
Image: BEDB
Sua founder Muhammad Iqbaal Syakib Haji Suhib said the financing, together with BEDB’s Micro Bootcamp, provided the capital and business fundamentals needed to launch his first product line of tumblers, which made its debut at BEDB’s Brunei MSME Festival.
For more information on the upcoming Engagement Series sessions, the public can follow @bedbbrunei on Instagram, visit www.bedb.gov.bn or contact BEDB’s Business Helpdesk at 8363442 or 8330520.
THE BRUNEIAN | BANDAR SERI BEGAWAN
