SME Factors, a company that provides contract financing, has set aside RM250mil for a financing facility specifically for bumiputra entrepreneurs.
The funding facility is in line with the Bumiputra Entrepreneur Empowerment programme launched by Finance Ministry Deputy Secretary-General (Policy) Datuk Mat Noor Nawi in Kuala Lumpurlast week.
The programme is based on the three pillars of education, financing and infrastructure.
SME Factors will provide specialised services in these areas to enable the necessary shift for the bumiputra business community to be more competitive.
According to SME Factors president and chief executive officer Syed Zed Al-Qudsy, the financing facility is the company’s initiative to continue its efforts to help ease the financial burden of SME businesses. Through the programme, SME Factors has expanded its list of services to meet the needs and demands of SMEs in all aspects of business.
“For the first time, SME Factors will provide a comprehensive business infrastructure and ecosystem through Tiqtrade, a complete business ecosystem and the first of its kind in Malaysia that offers business management, financing, marketing prospects as well as a range of possibilities for a company to build a network of business or their customers. “
“The programme is expected to become a platform that provides the crucial impetus to bumiputra entrepeneurs as it will help tackle challenges faced in the business world while providing them with a wealth of expertise and business infrastructure to improve their efficiency, discipline and competitiveness.”
SME Factors also has a client list of more than 5,000 companies with limited and sole proprietors.
With this extensive database, Tiqtrade will indirectly become an important focal point between buyers and sellers and for the bumiputra entrepreneurs who wish to grow their businesses locally or abroad.
In his speech, Mat Noor said it was hoped that in the long term, the total trade for the SME industry would see more bumiputra companies getting involved in creating new business opportunities.
