PETALING JAYA: Participants in the Star Outstanding Business Awards (SOBA) 2015 are urged to market their products overseas.
“We noted several innovative and outstanding businesses with sustainable models in the competition. However, they would fare much better in the long run if they were to learn how to market their businesses overseas especially in the current economic climate,” SME Association of Malaysia president Michael Kang (pic) said at the SOBA 2015 final round of judging.
Kang, who was chief judge in the Innovation, Global Market and Rising Star category for SOBA 2015, said entrepreneurs should tap the available resources such as the Agensi Inovasi Malaysia as well as improving their business in the areas of management and marketing.
“Being in Asean and with the possible signing of the Trans-Pacific Partnership Agreement, local small and medium enterprises stand to gain by not focusing solely on the local market,” he said.
SOBA is open to local enterprises that are not part of a multinational or listed group and are incorporated in Malaysia with foreign equity not exceeding 50%.
It had included three new sub-categories – Male, Female, and Young Entrepreneur of the year.
Participants above the age of 35 can vie for the former two categories, while those below 35 years of age can go for the Young Entrepreneur award.
The panel of judges comprises Malaysian Advertisers Association council member Mohamed Kadri Taib, MAICCI secretary-general Datuk Dr A.T. Kumararajah, Branding Association of Malaysia president Datuk Eric Chong and Kang.
“The entries we received this year were from high quality candidates, reflective of the state of the economy in the last two years,” said Chong, adding that next year’s competition would be challenging given the current state of the economy.
The judges agreed that there weren’t many ties this year, and that it was quite clear who the winners were in each category.
“We saw some very creative players in the air travel, property development and green technology industries. We like to see companies that redefine how the business is done,” Chong said.
This year, the Grand and Platinum winners will receive publicity in The Star’s SMEBiz pullout, while Gold and Silver winners will receive publicity in MetroBiz.
Other prizes include the coveted SOBA trophy and eligibility for preferential rates for ads in The Star.
Did you find this article insightful?