Sound financial management key to business success — Mara
KENINGAU: An efficient accounting and financial management record is important in increasing productivity and expanding a company’s business, said State MARA director Suhaimi Zainuddin.
He said the weaknesses of entrepreneurs under the agency were due to inefficient financial and accounting management.
“Hence, the financial management records need to be emphasized in ensuring that a business company is successful, able to compete and thrive,” he said in his speech when officiating the three-day Let’s Do The Accounting course held at the district Mara office here on Tuesday.
Suhaimi said organizing courses and seminars for entrepreneurs is Mara’s ongoing effort to ensure that entrepreneurs under this agency are looked after and educated in order to enhance their business knowledge to keep themselves efficient in managing their businesses.
He often emphasized the need for efficient financial and accounting management to business associates under the agency.
“We talk about entrepreneurs, becoming entrepreneurs and all the good stories, lots of visitors and customers but do not know how much profit and how much it’s losing.
“One issue is that if we do not have a financial management record, our business will not grow because we do not know how to make an assessment or have a clear record of the amount of profit or loss,” he said.
He said many current entrepreneurs take the easy way and do not have or provide a complete business record even in the simplest form.
Suhaimi said many entrepreneurs cannot distinguish between personal and business and sometimes want to buy milk for their children using company money.
According to him, this kind of thing needs to be emphasized in the company if it wanted to be a successful and competitive company by learning from other successful businessmen in which they emphasize enough in terms of business records. He said a company should record or make the record as a proof of financial and accounting management that is efficient and robust.
“If too busy and no time to make the record then the company needs to appoint an account clerk to set up a business record.
“I think the weakness of our entrepreneurs today is in terms of financial management both in terms of business, marketing and so on.
“For me, efficient financial and accounting management can strengthen the business of the company as well as make the company thrive and prosper,” he said.
Suhaimi hopes that the three-day course will have the best impact on participants comprised of Mara entrepreneurs and make this course a knowledge platform for further business development.
A total of 30 participants participated in the course guided by NEDC Resources Consultant director Haslinda Hashim.
Also present at the event were district Mara officer Mohd Zairul Fiza Mohd Zain and Keningau Entrepreneurs Club (KEC president, Elroon Liberty.