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News & Events

[ 19-09-2013 ]
Business academy for SMEs

KUALA LUMPUR: Realising the vast potential of the small and medium enterprise (SME) sector, Alliance Bank Malaysia Bhd has introduced the Alliance Bank BizSmart Academy.

It is the first-of-its-kind business academy aimed at inspiring and nurturing a new generation of young businesses in Malaysia.

According to Alliance Bank group chief executive officer (CEO) Sng Seow Wah, the academy would be open to all SMEs in the market and not only restricted to young SMEs.

“The road to profitability for small businesses and new start-ups is challenging, with more than 50% of small businesses failing in the first five years of operations due to a variety of reasons,” he told reporters at the launch of the academy.

The academy has been designed to be the “go-to” online resource for SMEs, featuring topics on entrepreneurship, marketing, leadership and technology, to help SMEs grow profitably and sustainably.

Both existing customers of Alliance Bank and non-customers would be allowed to access the academy for free.

Executive vice-president and head of group business banking Steve K. Miller said almost 25% of Alliance Bank’s revenue came from the SME segment and that the bank had almost 70,000 SME clients.

In conjunction with the introduction of the academy, Alliance Bank also launched its inaugural annual “SME Innovation Challenge 2013” for young SMEs who have been in business for between one and three years to participate by submitting their business propositions.

The academy can be accessed at www.BizSmart.com.my.