Overseas Payments and Remittances for SMEs: Where to Start?

Overseas Payments and Remittances for SMEs: Where to Start?

Cross border money transactions are showing an upward trend in Malaysia. More money is being sent abroad and more is received from overseas. Yet for small and medium-sized enterprises (SMEs), overseas money transactions can be a tough issue to figure out. Various financial institutions offer remittance services, from banks to …

SME Creativity and Innovation

SME Creativity and Innovation

It has become widely accepted that creativity and innovation are crucial to business success, especially in the ever-changing and uncertain world we live in today. While creativity is the ability to produce new and unique ideas, innovation is the execution of that creative ideas. When properly fostered, creativity and innovation …

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Business Planning 101

Business Planning 101

All successful businesses start with great planning. Business plans can be a daunting challenge for some, because of the effort you have to put to craft one. As daunting as it seems, business plans are necessary as they provide the roadmap for where you want to take your company. In …

Building the best team, no matter how small your business

Building the best team, no matter how small your business

A rookie mistake often made by those just starting a new business is thinking they can handle everything on their own. It’s still a small business, after all, so why would I need more people to help me, they think. As a small business owner, I should be able to …

Building a Business: Online or Offline?

Building a Business: Online or Offline?

When thinking of how best to build your business, a major consideration these days is whether to make it offline or online – especially, of course, if the business idea you have in mind is in the retail industry. Each option has its ups and downs, so you need to …

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Evaluating Your Business Idea

Evaluating Your Business Idea

The current climate in business is innovative and entrepreneurial. Is it any wonder the startup industry is flourishing? Southeast Asia’s startup scene is also thriving. Since 2012, Southeast Asian startups have consistently obtained more and more financing. If you’re reading this article, perhaps you’ve been thinking of building your own …

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How to make working capital work for you

What is the most important focus area for any business? Most SMEs make the mistake of focusing only on the profitability of the business. But liquidity is the other pillar on which a company stands. Liquidity is achieved through efficient working capital management. The concept is similar to a person’s …

Cash is king, cash flow is emperor

Businesses, especially SMEs, have grown highly competitive in the past 10 years. Local competition is not new, but international and online competition have kept small businesses on their toes. And along with the general cost of living, cost of doing business has gone up as well. In such a scenario, …

5 Ways to Delegate Work More Efficiently

Delegating work is not as easy as it may seem, especially when you’re a perfectionist. You may prefer to do everything yourself in order to have everything to your standards. But the truth is, it will only lead you to exhaustion and burnout. Delegation is one of the major keys …

How SMEs Are Evaluated for Financing Suitability

So, you’re a small business owner. You want to apply for business financing. You know you are eligible for the option. You’ve turned in all the necessary documents. What happens now? Specifically: how do financial institutions judge you to be worthy of their financing? If you have ever applied for …