StanChart, MaGIC team up to educate SMEs on finance
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.