SME FINANCING SUPPORT
1. BIBD SME 360
“BIBD SME 360 is a newly launched service by BIBD Bank. It aims to support small and medium business enterprises (SMEs) through a dedicated branch that specifically targets this business sector. Here SMEs will be offered services and products such as a dedicated relationship management team, banking solutions, financing, deposits and investments.
Interested and budding entrepreneurs are encouraged to call the BIBD Contact Centre at 2238181 to get more information and arrange an appointment.”
2. Baiduri Bank Berhad SME Support
“As you grow your business, enjoy your local advantage at Baiduri Bank. Being a local bank ourselves, we understand the needs in helping your business maintain a healthy cash flow for your business to reach its full potential.
In collaboration with the Ministry of Primary Resources (MPR), we offer financing tools to local SMEs under the Enterprise Facilitation Scheme and the Micro-Credit Scheme. With our local knowledge and financial products, you will meet your various business needs.”
Aside from MerchantSuite, the Business Banking Unit under Retail Banking provides support and services to small and medium enterprises (SMEs), such as the Baiduri Internet Gateway System, as well as the Business i-Banking to assist businesses in paperless transactions and assist them in SME credit facilities where eligible.
For more information, Click Here
3. Startup Bootcamp Programme, Darussalam Enterprise (DARe)
“DARE has launched the first “Startup Bootcamp” Programme at its iCentre to incubate startups as well as accelerate growth of new and existing businesses that wish to reinvent themselves.
For 100 days over 15 weeks, around 50 participants will go through an intensive ideation as well as execution whereby investors, established entrepreneurs, and mentors will work with the startups and businesses to grow in both Brunei and ideally overseas.
There will be three runs of the bootcamp every year. Trainers and mentors come from within Brunei as well as from the region.
Targeted participants are both new entrepreneurs and experienced entrepreneurs so that they can learn from each other. Selected aspiring young entrepreneurs and students are included as well. Ideally, this will also solve unemployment issues in the country as these new and reinvented businesses will grow to absorb more employees in Brunei.
Promising graduates that are unemployed are encouraged to join the boot camp to learn about entrepreneurship as well.
The programme is targeting products and business ideas that are innovative and exportable.”
For more information, Click Here
4. The Future Fund
DST, The Brunei Economic Development Board (BEDB), and the Authority for Info-communications Technology Industry (AITI) joined forces to create The Future Fund, which provides seed capital for IT startups to spur the sector’s growth. The fund also provides guidance to startups on taking their ideas to the market and guidance on boosting the entrepreneurship ecosystem in Brunei Darussalam.
Awardees are incubated and mentored at iCentre. The funds are intended primarily for businesses in gaming, mobile applications, national broadband infrastructure-related services, content aggregation, and content production.
For more information:
Phone: +673 2230111
5. LiveWIRE Brunei
“LiveWIRE Brunei is a Brunei Shell sponsored community programme created for the purpose of increasing the interest of the young especially those who are unemployed, through training, mentoring and encouraging them to venture into the world of business and become the future entrepreneurs of Brunei Darussalam.
It was officially launched in Brunei on 1st May 2001 in response to the Brunei Darussalam Economic Council’s (BEDC) effort to support infrastructure for enterprise development as a long-term sustainable economic development. It is officially funded by Brunei Shell Petroleum Company Sdn Bhd as part of its commitment towards the economic development of the country.”
For more information Click Here