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BID-IT Assists Young Entrepreneurs To Use Digital Platform
Last update: 24/05/2017

KUALA LUMPUR, May 24 (Bernama) -- SME Bank has launched the Business in Digital Programme (BID-IT) funding programme to assist young entrepreneurs aged between 20 and 35 to expand their small businesses and ventures into the digital and e-commerce platform.

Nineteen companies have been selected to be a part of the initial stage of the overall development programme before receiving funding from SME Bank.

SME Bank Group Managing Director Datuk Mohd Razif Mohd Yunus said the main selection criteria included the use of technology for business development, financing needs and a strong business model.

"This programme is continued yearly to achieve the target following the growing trend among young entrepreneurs doing business through digital platforms," he told reporters after the launch of BID-IT by Deputy International Trade and Industry Minister Datuk Ahmad Maslan here, today.

Mohd Razif said under the programme, SME Bank worked with nine other organisations, namely Cradle Fund Sdn Bhd, Malaysia Global Innovation & Creativity Centre, Malaysia Digital Economy Corporation, Microsoft Corporation, New Entrepreneurs Foundation, Payoneer Inc, Dewan Perniagaan Usahawan Siber Malaysia, Rave Technologies, and Universiti Malaysia Kelantan.

"These organisations act as the selection committee and determine the kind of assistance to be given to the 19 selected companies," he added.

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Starting April the banks have imposed a 50 sen processing fee on top of the 15 sen stamp duty on each cheque. The fee also applies to those applying for a Bankerís Cheque, Bank Draft and Cashierís Order. Do you think this additional charge is justified?
 

 
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