KUALA LUMPUR: As more sectors are allowed to operate, small and medium enterprises (SMEs) can start breathing a little easier as they can finally open their doors to customers, after having struggled through the past two months.

       However, how ready are SMEs in terms of business continuity?

       This will be the core of the discussion for the upcoming Star Outstanding Business Awards #SOS: Save Our SMEs Surviving the Cash Flow Crisis and Planning Your Business Continuity’ webinar, to be hosted by 988 announcer and celebrity entrepreneur Chan Fong in Mandarin.

       SMEs can tune into the webinar, which will be held on Aug 27 at 3pm, by registering at bit.ly/E_sobalab2.

       Businesses will learn best practices and practical applications first-hand from leading SME ecosystem players including Maxis Business SME head Kevin Lee, PKT Logistics Group Sdn Bhd chief financial officer Pang Kong Chek, RHB Bank Bhd SME banking head Yip How Nang, and Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) national council member and SMEs committee chairman Koong Lin Loong.

       When it comes to lessons learnt from the past year, Koong will drill down to the heart of the problem for all businesses by pinpointing the key factors affecting business performance, drawing from survey results conducted by ACCCIM during last year’s movement control order, alongside more recent surveys for the first and second half of 2021.

       Alarmingly, he shared: “46.2% of companies cannot support their cashflow for more than three months.”

       Building on that, PKT Logistics Group’s Pang will address solutions in managing a cashflow crisis for businesses, using the logistics player’s experience over the past year.

       He will also touch on the key strategies and components to craft a well-rounded business continuity plan that will help minimise disruptions arising from future crises.

       “Prepare your company for diversification and innovative products that are sustainable during recession or crisis,” he advised.

       RHB Bank’s Yip will also weigh in on the need for SMEs to look past optimising working capital and embed continuity into the foundations of their businesses.

       He added: “As a banker specialising in SMEs, I have seen businesses surviving the current crisis intact over the last 18 months and some are even thriving.

       “But to march on, (businesses need to focus on) more than just optimising working capital. It is also about repositioning businesses to meet changing stakeholder behaviour.”

       Meanwhile, Maxis Business’ Lee will be speaking on digitalisation and technology and how SMEs can leverage the available tools in the market to move their businesses forward.

       He said: “At Maxis, we are inspired by businesses that use technology and digitalisation to create meaningful outcomes for their customers. This is aligned with our brand purpose – bringing together the best of technologies to enable people, businesses and the nation to ‘Always Be Ahead’ in a changing world.

       “For the upcoming SOBA Lab webinar, I’m excited to be sharing how entrepreneurs can digitalise their business with affordability and flexibility with the right business solutions and how businesses can leverage on the SME Digitalisation Grant.”

       SOBA 2021 is organised by Star Media Group Bhd with Credit Guarantee Corp Malaysia Bhd, Maxis, PKT Logistics Group and RHB Bank Bhd as main sponsors and the Malaysia External Trade Development Corp as official trade promotion partner.

       Supported by the International Trade and Industry Ministry and Bursa Malaysia, it is audited by BDO with 988 and Suria as official media partners.

       For more information on SOBA 2021, call The Star Events at 017-817 8099 or visit www.soba.com.my.