SME Advisory and Marketing head for Market Access Advisory Mastura Ismail addressing the MSME participants at the networking session.
GRASSROOT ventures with humble beginnings usually operate in isolation of the larger business environment.
However, if they plan to excel and upscale their businesses, these micro, small and medium-sized enterprises (MSMEs) should consider the power of networking.
It will introduce them to other businesses that they can work with and form alliances. They could impress larger companies that they can partner with or be mentored by them to be more successful.
Getting into such a circle or group is another challenge in itself.
Power of networking
To demonstrate the importance of networking, Credit Guarantee Corporation Malaysia Berhad (CGC) launched a fourth pillar of its CGC Developmental Programme that focuses on Networking Sessions, on Feb 21 this year.
The programme offers a variety of knowledge and skills for MSMEs to stay agile and sustainable.
MSMEs took the opportunity to introduce their products and services during the networking session.
As of January 2023, more than 70,000 MSMEs have been assisted through the CGC Developmental Programme.
The programme aims to hold six sessions this year that are open to 100 MSMEs per session. These MSMEs would ideally come from various sectors and have different business backgrounds.
An established and qualified coach, Lily Sabrina shared on the topic The Power of Business Networking.
These Networking Sessions were aimed at bringing MSMEs from different segments together within the same space as other industry players in the MSMEs ecosystem.
They include agencies, financial institutions and experts in specific subject matters. Through such exposure, MSMEs can cultivate networking skills that are crucial for their businesses.
There will also be opportunities for them to introduce their products and services during these sharing sessions.
Picking up the basics
Malaysians largely tend to be reserved and so in order to ease them into a social setting where they can mingle and comfortably exchange ideas and opportunities, CGC Developmental Programme provides practical sessions.
Participating MSMEs are assigned to groups for them to practise how to network effectively after the session with the trainer imparting knowledge and ideas to them.
With these sessions MSMEs can put networking to full impact by exchanging ideas, knowledge, and opportunities in order to expand their reach and gain new perspectives for their businesses.
The CGC Developmental Programme is a good starting point for MSMEs to gain important knowledge on how to network effectively for their businesses.
It also outlines to them the benefits of joining and maintaining various business networks.
Throughout the programme, they will learn ways of maintaining a strategic approach when it comes to building and maintaining business networks.
They will also pick up the ability to introduce themselves effectively to potential business partners and peers, as well as how they can improve their approach and attitude when networking.
Enriching experiences
Building network ties allow MSMEs the opportunity to share business experiences and spreading awareness of their product while learning up on others that could help with their own businesses.
But most importantly, they will have the chance to gather more contacts and forge business collaborations that would certainly be of great benefit to all parties.
Desmond Khoo met many MSMEs from different industries.
Participants in the Networking Sessions found those to be an eye-opener and is an indispensable skill to help and even upscale their businesses.
Kasturi Capital Holding Sdn Bhd founder and chief executive officer Desmond Khoo said: “I would like to thank CGC Developmental Programme for inviting me to a fulfilling programme. I have met many MSMEs in different industries.”
Articulate Fusion Sdn Bhd producer Ahmad Firdaus opined: “Such an exciting event for the enthusiastic entrepreneur to explore business opportunities and collaborate with other MSMEs.”
Other supporting services
Besides the Networking Sessions, the programme is also committed towards promoting MSME development by offering both Financial and Non-financial Advisory.
The journey begins with the Financial Advisory Team, which assists unsuccessful financing applicants through its imSME platform and the Khidmat Nasihat Pembiayaan (MyKNP).
The team conducts a comprehensive review of unsuccessful financing applications and provides one-to-one advisory to improve financial literacy and strengthen eligibility for future financing.
Its Non-Financial Advisory assistance consists of advisory workshops to enhance the MSMEs’ knowledge and skills in five main topics: digital marketing, branding, business management, business expansion and financial literacy.
Ahmad Firdaus: ‘Exciting event to explore opportunities.’
The programme helps businesses grow by assisting them to find suitable market access, locally, internationally, or via ecommerce.
The programme provides MSMEs the opportunity to access new markets on an ecommerce platform such as Shopee, Grab, Foodpanda, Jocom and TnG Digital.
Since the programme was first introduced, MSMEs have had the chance to promote their products in hypermarket such as Lotus’s, Giant and Mydin.
They even had the chance to participate in international events and expos such as the Canton Fair China in 2017 and 2018, Thailand Business Matching in 2019 and the China-Asean Expo from 2016 till 2019, through one of CGC Developmental Programme’s initiative called Access New Markets.
Participants who have completed 24 months tracking under Access New Markets are eligible for a certificate of completion, presented by CGC.
To know more about the CGC Developmental Programme, visit imsme.com.my/portal/cgc-developmental-programme/, contact the CGC Client Service Centre at 03-7880 0088 or email csc@cgc.com.my
