How Bumiputera Enterprise Enhancement Programme (BEEP) Can Help Young Bumiputera
Bumiputera Enterprise Enhancement Programme (BEEP): A Great Incentive For The Malaysia Startup Scene
Running a business is more than buying things for low cost and selling them for more price. There is more into it. There is the business environment, changes, competition, and so many uncalled things that affect how your services could make a significance in the market. To understand all of this, you will need to have many ideas, strategies and knowledge. These will help you and your business push forward. Every SME owners need to know it, and this is the core idea behind the Bumiputera Enterprise Enhancement Programme (BEEP). This program, as its name suggests, is for developing the SME environment in Malaysia, helping the SMEs with hand holding approaches to let them build their business capabilities. More of an opportunity to the Bumiputera SMEs more than a scheme, today we talk about the Bumiputera Enterprise Enhancement Programme in details.
Bumiputera Enterprise Enhancement Programme (BEEP): What it is?
Bumiputera Enterprise Enhancement Programme, or BEEP, is a special programme run by the SME Corporation, Malaysia, helping strengthen the core business capabilities of Malaysia based SMEs by aiding in their productivity, efficiency, innovation and business development. The programme consists of various procedures that help Bumiputera SMEs reach their potential, and if you are an SME owner, especially of a startup, this is a program that everyone would recommend you to get.
Here are the elements of the Bumiputera Enterprise Enhancement Program (BEEP). Once you enrol, you will be guided in the following aspects.
- Packaging and labelling
- Certification and Quality Management System
- Advertising, Promotion and Branding
To qualify for the Bumiputera Enterprise Enhancement Programme, one must fulfill the following requirements.
- The SME should be Registered with Suruhanjaya Syarikat Malaysia (SSM) under the Companies Act 1965/Business Registration 1956.
- This program is only for the SME corporations. So, a business should have fulfilled the definition of SME.
- The company must have a 100% Bumiputera equity, meaning that all the investments should be based in Malaysia.
- It should possess a valid business premise license.
- The company should have a rating of SCORE (minimum 1 star) or MCORE (minimum Level 2).
- The SME should be in operation for at least six months.
In case you want to take part in Bumiputera Enterprise Enhancement Programme, you will have to approach the nearest State office of SME Corp Malaysia with all the documents, certifications and portfolio which show that you comply with the requirements of the program. 12 state governments have taken part in the program, Johor, Kedah, Kelantan, Melaka, N. Sembilan, Pahang, P. Pinang, Perak, Perlis, Sabah, Sarawak and Terengganu., so if you are a resident of any one of them, you could be taking part in the scheme.
This program is not only a chance for you to learn comprehensibly about the market but also an opportunity to connect and network with other SME owners. Malaysia market is vast, and it is changing, while you do your business, you will have to make sure you do everything right to be secured in the long run. BEEP could help you with that and you, as an entrepreneur should always be willing to learn new things. This is it for the article, and I sincerely hope it will help you.