Search Results for: SME

SINGAPORE, July 9, 2022 /PRNewswire/ — Bank BRI (IDX: BBRI) has received two international awards from The Asset Triple A in Singapore on July 6, 2022. Sunarso, President Director of BRI, received The Best ‘SME Banker of the Year’ while BRI, the only Indonesian bank awarded, was named as ‘The Best Treasury & Working Capital – SME’.

Other award winners included Lay Hua So, Managing Director and Head of Group Transaction Banking of UOB; and Makoto Hasegawa, Head of Transaction Banking BNP Paribas Japan, as ‘Transaction Banker of the Year’. Chintan Shah, APAC Head of Cash Management at Deutsche Bank; Yvonne Yiu, Regional Co-Head of Global Liquidity and Cash Management at HSBC APAC; and Erin Huang, China Head of Cash Management at Deutsche Bank were awarded ‘Cash Management of the Year’.

Sunarso has dedicated the awards to all BRI employees, who have given their best performance and contributed a lot to Indonesia, as well as BRI’s MSME customers who are the backbone of the Indonesian economy. “MSME customers in Indonesia need to be educated and informed rather than advocacy. Therefore, everything we have done and will do are focused on empowering and educating”, said Sunarso.

The awards were obtained through assessment by credible external parties and several stages prior to being interviewed by Chito Santiago and Darryl Yu, Executive Editor and Deputy Editor of The Asset.

In March 2022, BRI’s credit distribution reached IDR 1,075.93 trillion or grew 7.43% yoy, higher than national amount of 6.65%. Loan distribution to MSMEs (Micro, Small, and Medium Enterprises) grew 13.55%, the consumer segment grew 4.56%, and the small and medium segment grew 3.96%.

BRI’s MSME loan portfolio grew 9.24% yoy, from IDR 826.85 trillion in March 2021 to IDR 903.29 trillion in March 2022, making the proportion of MSME loans compared to BRI’s total loans to 83.95% and expected to be 85% in 2024.

BRI’s focus on empowering MSMEs during the pandemic recorded a net profit of IDR 12.22 trillion. At the end of Q1 2022, BRI’s assets reached IDR 1,650.28 trillion.

Putting more focus on MSMEs, BRI aspires to become ‘The Most Valuable Banking Group in Southeast Asia and Champion of Financial Inclusion’ by 2025.

Visit www.bri.co.id for more information.

Key survey findings:

• Around 64 percent of micro-, small, and medium-sized enterprises (MSMEs) believe that digitizing their business helps sustain it in the long run.
• Among the respondents, 83 percent own a business website while 16 percent of them sell online.
• The rise in inflation rates has increased business costs for 84 percent of small businesses.
• The majority of those who sell online have a neutral view on whether eCommerce reduces some cost pressure. However, half of them agree it is a key driver in enabling business growth.
• More than half of small businesses believe New Zealand is an excellent country to do business.

WELLINGTON, New Zealand, July 4, 2022 /PRNewswire/ — As the world hopefully awaits the end of the pandemic, Kiwi small businesses have found a lifeline in digitization to sustain their operations moving forward. This was revealed through a recent survey by Crazy Domains, the leading hosting and online solutions provider in New Zealand.

COVID-19 has shut down small to mid-sized businesses (SMBs) worldwide, but many have held the fort by adopting digital methods, such as creating a website (83 percent), sending business emails (86 percent), having a social media presence (54 percent), and marketing online (36 percent).

Businesses have also leveraged other online platforms, such as video conferencing (41 percent) and social chat (23 percent). Meanwhile, only 22 percent of Kiwi businesses are keen about selling on online marketplaces.

Gaining a digital presence has become a huge investment for businesses in New Zealand. In fact, SMBs spend more than $2,800 each year on digitization — including hosting, web design and development, email hosting, and online marketing services.

MSME attitudes toward digital transformation

Having an online presence remains to be essential for small businesses and among the stark minority (17 percent) who do not have a business website, 42 percent are keen on building their website themselves, while the majority is willing to outsource the work.

ECommerce seems to be the least in priority for Kiwi SMBs. Among those with business websites, only 16 percent are selling online, while only 18 percent plan to do so in the next 12 months. Apparently, acquiring new customers is not the only reason SMBs launch a business website, but also to increase brand awareness and maintain a professional image.

With rising inflation rates adding to the recent comeback of coronavirus cases, 84 percent of small businesses face the impact of increased business costs. Among eCommerce businesses, more than one-third believes selling online relieves some cost pressure. Meanwhile, half of them agree selling online enables business growth.

For eCommerce businesses, contactless payment options are efficient but not essential. Around 36 percent of them use Tap-to-Pay systems, while 40 percent do not. Meanwhile, 24 percent say these functions are not applicable to their businesses. Kiwis are also not keen on providing buy-now-pay-later (BNPL) payment schemes, with only 8 percent offering them to customers.

Business outlook amidst COVID-19, economic challenges

SMBs react differently when it comes to their business performance in the last 12 months. An equal proportion of businesses believe they performed better or worse than last year. Meanwhile, half of the respondents stated their performance remained the same.

With Russia’s ongoing war on Ukraine and the current health crisis, only one-third of Kiwi SMBs are optimistic about doing business over the next 12 months. However, a slight majority (53 percent) are positive New Zealand remains to be a great hub for MSMEs.

Survey methodology

Aimed to get an insight on MSME recovery and outlook amidst the global crisis, Crazy Domains conducted the survey across 314 respondents in the following segments: consulting/training, manufacturing, professional services, health and social services, retail and education.

To download a copy of the infographic, click here.

About Crazy Domains

Crazy Domains is a leading hosting and web solutions provider in New Zealand. Deeply rooted in Australia, it has grown to be a globally recognized brand across Asia, Europe, United Kingdom, Middle East, and the United States. Crazy Domains is a portfolio brand under Newfold Digital, a reputable global web presence solutions provider for small to mid-sized businesses.

With over 20 years of experience, Crazy Domains has helped MSMEs around the globe to launch a profitable online presence with top-tier IT solutions like domains, hosting, servers, online marketing, and more. To learn more, visit crazydomains.co.nz.

Key survey findings:

• Around 64 percent of micro-, small, and medium-sized enterprises (MSMEs) believe that digitizing their business helps sustain it in the long run.
• Among the respondents, 83 percent own a business website while 16 percent of them sell online.
• The rise in inflation rates has increased business costs for 84 percent of small businesses.
• The majority of those who sell online have a neutral view on whether eCommerce reduces some cost pressure. However, half of them agree it is a key driver in enabling business growth.
• More than half of small businesses believe New Zealand is an excellent country to do business.

WELLINGTON, New Zealand, July 4, 2022 /PRNewswire/ — As the world hopefully awaits the end of the pandemic, Kiwi small businesses have found a lifeline in digitization to sustain their operations moving forward. This was revealed through a recent survey by Crazy Domains, the leading hosting and online solutions provider in New Zealand.

COVID-19 has shut down small to mid-sized businesses (SMBs) worldwide, but many have held the fort by adopting digital methods, such as creating a website (83 percent), sending business emails (86 percent), having a social media presence (54 percent), and marketing online (36 percent).

Businesses have also leveraged other online platforms, such as video conferencing (41 percent) and social chat (23 percent). Meanwhile, only 22 percent of Kiwi businesses are keen about selling on online marketplaces.

Gaining a digital presence has become a huge investment for businesses in New Zealand. In fact, SMBs spend more than $2,800 each year on digitization — including hosting, web design and development, email hosting, and online marketing services.

MSME attitudes toward digital transformation

Having an online presence remains to be essential for small businesses and among the stark minority (17 percent) who do not have a business website, 42 percent are keen on building their website themselves, while the majority is willing to outsource the work.

ECommerce seems to be the least in priority for Kiwi SMBs. Among those with business websites, only 16 percent are selling online, while only 18 percent plan to do so in the next 12 months. Apparently, acquiring new customers is not the only reason SMBs launch a business website, but also to increase brand awareness and maintain a professional image.

With rising inflation rates adding to the recent comeback of coronavirus cases, 84 percent of small businesses face the impact of increased business costs. Among eCommerce businesses, more than one-third believes selling online relieves some cost pressure. Meanwhile, half of them agree selling online enables business growth.

For eCommerce businesses, contactless payment options are efficient but not essential. Around 36 percent of them use Tap-to-Pay systems, while 40 percent do not. Meanwhile, 24 percent say these functions are not applicable to their businesses. Kiwis are also not keen on providing buy-now-pay-later (BNPL) payment schemes, with only 8 percent offering them to customers.

Business outlook amidst COVID-19, economic challenges

SMBs react differently when it comes to their business performance in the last 12 months. An equal proportion of businesses believe they performed better or worse than last year. Meanwhile, half of the respondents stated their performance remained the same.

With Russia’s ongoing war on Ukraine and the current health crisis, only one-third of Kiwi SMBs are optimistic about doing business over the next 12 months. However, a slight majority (53 percent) are positive New Zealand remains to be a great hub for MSMEs.

Survey methodology

Aimed to get an insight on MSME recovery and outlook amidst the global crisis, Crazy Domains conducted the survey across 314 respondents in the following segments: consulting/training, manufacturing, professional services, health and social services, retail and education.

To download a copy of the infographic, click here.

About Crazy Domains

Crazy Domains is a leading hosting and web solutions provider in New Zealand. Deeply rooted in Australia, it has grown to be a globally recognized brand across Asia, Europe, United Kingdom, Middle East, and the United States. Crazy Domains is a portfolio brand under Newfold Digital, a reputable global web presence solutions provider for small to mid-sized businesses.

With over 20 years of experience, Crazy Domains has helped MSMEs around the globe to launch a profitable online presence with top-tier IT solutions like domains, hosting, servers, online marketing, and more. To learn more, visit crazydomains.co.nz.

BANGKOK, June 24, 2022 /PRNewswire/ — Credit OK, the technology platform that plays a significant role in Thailand’s SMEs market, offers financial products for small and medium enterprises (SMEs) including credit facilities and insurance for small businesses. Credit OK remains focused on helping entrepreneurs to thrive. With the launch of the “Protect Now, Pay Later*” program for small-medium businesses, corporations, as well as individual customers, the company believes this is a better alternative for SMEs in managing their risks and accessing the right SME insurance packages plus payment plan options.

Most Thai SMEs are underinsured, a big gap to cover their risks

SMEs, accounting for 95% of all businesses in Thailand, are one of the crucial components that propel the Thai economy, especially in terms of employment, income distribution, and growth of the country. However, most Thai SMEs are underinsured and lack channels to access risk management products.

More than a hundred thousand businesses, including restaurants, hotels, and small business operators had to shut themselves down during the COVID-19 pandemic. This raises alarms for business operators to recognize the importance of risk management.

Still, there are multiple factors that make SMEs reluctant in how they select and acquire insurance for their business. Besides product knowledge, and a complicated purchasing process, the most critical blocker is the monthly cash flow for SME insurance. As better coverage normally comes with a high premium that can exceed their monthly budget, Credit OK believes “Protect Now Pay Later” will help SMEs to get the adequate coverage that SMEs need in an affordable manner.

Experiencing a new way of purchasing insurance for SMEs on Credit OK platform

In collaboration with Chubb Samaggi Insurance Public Company Limited, one of the leaders in the general insurance market in Thailand, both have worked together to design and develop insurance products to fit the needs of Thai SME operators.

“There are 2 factors that contribute to the sustainable growth of SME business, one is cashflow and another is the ability to reduce the risks”, said Mr. Phuwarat Norchoovech, Chief Executive Officer of Credit OK. Credit OK helps to provide credit facilities for insurance premium payments (premium financing). This aims to serve the requirements of corporate customers and make SME insurance purchases not only convenient but also a friendly experience. The first product for SME businesses on Credit OK platform is called “SME All Protect”. It offers a business insurance package for SMEs covering fire insurance, flood, and other necessary protection business such as third-party liability, etc. In near future, there will be a range of insurance products for both SMEs and individual customers coming to the platform. The SMEs can also submit their previous insurance policy to get a competitive tailor-made quotation with an installment plan.

• Health Insurance
• Motor Insurance
• Compulsory Motor Insurance
• Group Personal Insurance
• Credit/Loan Protection
• Construction Insurance
• Inland Transit / Carrier Insurance
• Machinery Insurance

Premium Financing – Instant Approval without Hassle

Credit OK made instant installment plans for SMEs possible through machine learning, data analytics, and verification systems to make credit assessment simple yet accurate and effective. Customers can choose to have instant coverage from the straight-through purchasing process with 6 installments with a 0% interest rate. No credit history, guarantors, or bank statement is required.

Cashback program with OK Partner

Credit OK also houses an online community for SMEs and micro-entrepreneurs called “OK Partner”, where small business owners or even individual customers can participate to earn cash back whenever they or their friends purchase on Credit OK platform. Simply register on OK Partner and share their unique referral links. This will allow their friends to get a cashback discount when buying insurance on Credit OK, and the referrers will also earn extra money through a successful referral. Get unlimited savings on insurance today at www.creditok.co /okpartner

For more information about Credit OK, please visit www.creditok.co 
_{*Remark: Terms and conditions as designated by Credit OK}