Image credit: Business Today
KUALA LUMPUR (Sept 9): The AmBank Group has extended the registration deadline for its AmBank BizRACE competition to Sept 18.
In a statement, the group said its third season of the contest, which aims to help small and medium enterprises (SMEs) future-proof their business in light of the Covid-19 pandemic, will involve three tracks — Industrial Revolution 4.0 (IR 4.0), digitalisation and halal certification.
“All three tracks enable participants to develop and be given guidance by AmBank’s corporate partners on how to apply for various government grants and certifications,” it said.
SMEs participating in the IR 4.0 track will gain a deeper understanding and control of their manufacturing lines by enabling SMEs to leverage data to improve their productivity and processes.
“The misconception among SMEs is that IR 4.0 is very expensive and that is why as a bank, we really aim to go beyond financing. We look into how we can aid them in accurately applying for the readily available government grants,” said AmBank Group’s business banking sector managing director Christopher Yap.
Meanwhile, SMEs embarking on the digitalisation track will receive assistance from AmBank to apply for grants from the Malaysian Digital Economy Corporation (MDEC) worth up to RM200,000 to develop their digitalisation journey.
“SMEs do not need to stop the brick and mortar aspect of their business; digitisation strategies such as e-commerce will give them an additional revenue stream and allow them to reach out to customers not only in Malaysia but across the world,” Yap added.
Last but not least, obtaining a halal certification will allow SMEs to expand their business opportunities. With consumers’ growing consciousness of responsible products and services available in the halal sector, several opportunities remain yet to be ventured into.
Running from September 2020 to March 2021, Season 3 of the AmBank BizRACE participants not only have the opportunity to obtain guidance for grant application and halal certification but also a chance to win prizes worth up to RM2 million. The prizes comprise exclusive development training programmes and media exposure.
The theme of BizRACE this year is “The Big Reset: Revive Your Business”.
Source: https://www.theedgemarkets.com/article/ambank-bizrace-sme-contest-registration-extended-sept-18