StanChart, MaGIC team up to ed­u­cate SMEs on fi­nance

New Straits Times - - Business | News -

KUALA LUMPUR: Stan­dard Char­tered Bank Malaysia (StanChart Malaysia) and the Malaysian Global In­no­va­tion & Cre­ativ­ity Cen­tre (MaGIC) an­nounced yesterday a strate­gic part­ner­ship to of­fer fi­nan­cial ed­u­ca­tion pro­grammes to small and medium en­ter­prises (SMEs) in the coun­try.

The pro­gramme, Ed­u­ca­tion for En­trepreneurs (E4E), will be de­liv­ered by the bank’s cer­ti­fied E4E train­ers and is de­signed to build the fi­nan­cial ca­pa­bil­ity of SMEs to grow their busi­nesses.

“En­trepreneurs rarely have ac­cess to ad­vice that has been tailored to their par­tic­u­lar needs.

“Our E4E pro­gramme of­fers prac­ti­cal in­for­ma­tion as well as tools that have been specif­i­cally de­signed for them, around top­ics such as cash flow, bud­get­ing, re­view­ing of ac­counts, and the right rea­sons for scal­ing up one’s busi­ness,” said coun­try head of cor­po­rate af­fairs Jen­nifer Kang.

“Ed­u­cat­ing en­trepreneurs on fi­nan­cial lit­er­acy is very im­por­tant, es­pe­cially for their suc­cess in the fu­ture. With im­proved fi­nan­cial lit­er­acy, en­trepreneurs can bet- ter man­age their fi­nan­cial re­sources and op­er­a­tions — one of the cru­cial ways to run their busi­ness smoothly and ex­pand their reach,” said MaGIC chief ex­ec­u­tive of­fi­cer Ashran Ghazi.

“There are still rel­a­tively few re­sources avail­able and ac­ces­si­ble for en­trepreneurs to l earn more about fi­nance which is why we are ex­cited to part­ner with StanChart Malaysia and sup­port de­liv­ery of the E4E pro­gramme as one of their long­stand­ing global com­mit­ments to ed­u­cate en­trepreneurs.

“This is also a great ex­am­ple o f o u r C o r p o r a t e E ntrepreneur­ship Re­spon­si­bil­ity pro­gramme, help­ing ful­fil our pledge to sup­port value in­no­va­tion and con­nect key play­ers in the ecosys­tem, as well as equip en­trepreneurs with the nec­es­sary ca­pa­bil­i­ties and skills to grow,” he said.

The Ed­u­ca­tion for Entrepreneurship pro­gramme is one of the ways that StanChart Malaysia is sup­port­ing its Clin­ton Global Ini­tia­tive com­mit­ment to ed­u­cate at least 5,000 mi­cro, small and medium en­ter­prises by the end of next year.

Ashran Ghazi

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