PPPMB holds working paper workshop for entrepreneurs
BANDAR SERI BEGAWAN
THE Federation of Brunei Malay Entrepreneurs (PPPMB) organised a workshop on the formulation of working papers for its members yesterday.
President of the federation, Dr Hj Abd Latif Hj Chuchu said knowing how to produce working papers will help PPPMB members, who are mainly business owners, provide stakeholders with an overview of their entreprises with ease.
Speaking to The Brunei Times on the sidelines of the workshop, he said the preparation of working papers is very important.
“For example, in applying a loan from the bank, you need to provide your working paper which entails the overview of your business,” he said.
Dr Hj Abd Latif said there had been cases here, where young and seasoned entrepreneurs still lacked the basic knowledge of formulating working papers.
He added being able to create effective working papers will make entrepreneurs less reliant on consultants and help them achieve meet their mission and vision during the setting up of a business.
“If a person is looking to set something up (business), usually the case is when they hire a consultant, they (the entrepreneurs) would state what they want, but the problem sometimes is that their desires get misinterpreted (by the consultant). Therefore being able to create working papers on their own would help them start and build their businesses according to their goals.
Professor Dr Hj Ismail Opak, a PPPMB member who conducted the workshop, said the headings of a working paper must include an introduction of the business, aims, costs and potential customers, among others.
“(Having it on paper) reinforces the understanding of the investor or reader making it easier for entrepreneur and the investor to reach their conclusion.”
The Brunei Times