12th LBD Forum focusses on small market challenges

Posted on  20/09/2018  |  Media Centre

| Danial Norjidi |

OVER 120 delegates comprising entrepreneurs, corporate leaders and government representatives came together yesterday for the 2018 Local Business Development (LBD) Forum at the Radisson Hotel, under the theme ‘How to Think Big in a Small Market’.

The event saw the attendance of Chairman of the Board of Directors of Baiduri Bank Yang Amat Mulia Pengiran Muda Dr Abdul Fattaah.

The annual LBD Forum seeks to develop Brunei businesses by sharpening the business acumen of founders, owners and top managers through leadership and entrepreneurial skills development; the sharing of experience, lessons and insights; and enabling them to build new connections.

In his welcoming remarks at the event, Chairman of Asia Inc Forum Dato Paduka Timothy Ong said, “Firstly let me acknowledge Baiduri Bank, which has steadfastly supported this Local Business Development Forum for over 10 years. Without Baiduri Bank’s support, this forum, which is for local entrepreneurs and business managers, would not be possible.

“Let me also acknowledge the critical role that DARe (Darussalam Enterprise) plays in our economy, in nurturing, promoting and supporting small and medium-sized enterprises (SMEs).

Chairman of the Board of Directors of Baiduri Bank Yang Amat Mulia Pengiran Muda Dr Abdul Fattaah at the forum. – PHOTOS: RAHWANI ZAHARI

A section of the attendees.

“Today at this Local Business Development Forum, there are people with remarkable stories to tell; people who have created successful businesses from zero, from very little; people who have had to deal with significant challenges – the challenge of a small market – and have found a path through those challenges.

“So I am very much looking forward to learning from these stories today. I hope that all of you, in your own different ways regardless of which journey you are on, will learn from some of these stories and share your own stories.”

The Chairman of Asia Inc Forum then moderated the forum’s first session, which was a conversation with DARe CEO Javed Ahmad and Baiduri Bank CEO Pierre Imhof on the topic ‘Thinking Big or Thinking Small’.

The following session shifted the focus to Azman Manap, who is the founder of Azil Group in Singapore, and the author of two books on building a business from the trenches.

Moderated by Articulation Training Centre Principal Trainer Stuart Lee, the session discussed the setting up of a business with zero capital.

Next was a panel discussion led by Director of Operations at Tasconi’s International Syarifah Safinatul Najah binti Malai Haji Abdul Hamid, Founder of Avantist Watches Keeran Janin and Managing Director of Cuckoo International Wong Kim Guan.

The discussion dealt with the topic ‘Going Beyond Economic Downturn: Building a Resilient Business’, and was moderated by Founder of Atoms Services Allen Shim.

The forum continued in the afternoon with a conversation on risk-taking, staying focussed and seizing new opportunities led by acclaimed manufacturer and fashion entrepreneur Zarah Juan, the founder of the Zarah Juan brand and Greenleaf Ecobags in the Philippines.

This session was moderated by Managing Owner of Cedar Management Services Yvonne Kuan.

The LBD Forum concluded with a session on ‘How to grow your Business with Blue Ocean Shift’ featuring Raj Kumar, a Blue Ocean expert and the CEO of the UCSI Blue Ocean Strategy Consulting in Malaysia.

This final session featured a presentation on proven methods to inspire confidence in one’s team, differentiating one’s business and finding new customers cost-effectively, as well as a Q&A moderated by General Manager of Regional Programmes for Asia Inc Forum Andrew Dy.

Now in its 12th year, the Brunei LBD Forum supports the Brunei government’s local business development and economic diversification strategies.

Yesterday’s event was convened by Asia Inc Forum, in collaboration with Baiduri Bank as a major partner, Borneo Bulletin and Media Permata as print and digital media partners.

The Brunei LBD Forum is part of a two-day programme which includes an LBD Workshop on Blue Ocean Shift which will take place today, at the Radisson Hotel.

Source: http://borneobulletin.com.bn/12th-lbd-forum-focusses-on-small-market-challenges/