What Every Entrepreneur Ought to Know About Business & Banking: A Practical Approach

By Lim Guan Chye

Aims to target would-be, new, or already business owners about business and banking based on the Sun Tzu Art of War.
Part 1Know Yourself, Know your Business.
Part 2Know your Environment, Adapt to the changes.
Part 3Know your Banker, Build and Strengthen Relationship.
A Practical Approach to:
Start up a business;
Understand the success factors in business;
Understand the numbers behind the business;
Understand the environment and how it affects the way the business is being done; and
Understand how the banks look at credit and lending as well as how to manage expectation and build relationship with your banker.
The laws governing business may vary from country to country, but the types of entities are similar in many ways. Similarly, the banking products may be known by different names but still made available to businesses.
Lastly, understand how to boost your chances of getting your loan approved by the banks.

• Language: English
• Publisher: Partridge Publishing Singapore
• Release date: Mar 26, 2015
• ISBN: 9781482830736

Lim Guan Chye

Lim Guan Chye is an accomplished banker for twenty-five years, specialising in business development and credit processing. He had held senior positions in the commercial sector for the last ten years covering management, finance, and HR. Currently, he provides advisory and consultancy services. He holds a Bachelor of Economics (Hons) from the University of Malaya.

Book preview

Copyright © 2015 by Lim Guan Chye.

ISBN:      Softcover      978-1-4828-3072-9

                eBook         978-1-4828-3073-6

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Contents

About the Author

Preface

Acknowledgement

Book Reviews

Introduction

PART 1 Know Yourself, Know Your Business

What Has Sun Tzu Art Of War Has To Do With Business & Banking?

Definition Of Small Medium Enterprise (Sme) In Malaysia

Types Of Business Entities In Malaysia

Business vs Employment

My Version - What Makes A Successful Business?

The Other 2 Skills The Every Entrepreneur Ought To Have:

Choosing A Business Partner

Knowing The Numbers Behind Your Business

What Are The Numbers Entrepreneurs Ought To Know – My Personal Experience

Some Idea Of The Legal Fees Structure In Malaysia

PART 2 Know Your Environment, Adapt To The Changes

Brief Write Up Of Banking In Malaysia -

Banking Nowadays And The Latest Developments That May Impact Business In Malaysia

Types Of Lending

What Are The Banking Products Available?

What Are The Types Of Security Arrangements?

4Cs Of Credit - A Brief Write Up

Sources Of Checking Available To Banks To Assess Credit?

PART 3 Know Your Banker, Build And Strengthen Relationship

Perceived Constraints Faced By Most Entrepreneurs (In Particular, The Sme)

Perceived Constraints Faced By Bank

How To Further Boost Your Chances In Getting The Loan Approved By The Bank

The Heading Templates

Importance Of Risk Analysis, Assessment And Mitigation

The Reader And The Writer

Conclusion

About the Author

The Author, Lim Guan Chye, holds a Bachelor Degree in Analytical Economics (2nd Upper Honors) from the University of Malaya. He is a Certified Credit Professional (CCP) awarded by the Malaysian Banking Institute.

He has about 25 years’ experience in both Malaysian and foreign banks covering operations, marketing, credit processing, legal aspects of lending, and branch management as regional office management. He has also conducted training and domestic inquiry.

He has extensive exposure in the lending to the various industries/sectors include property development, printing and packaging, manufacturing, hotels, hospitals, trading, project/contracting, integrated animal farming, textile, palm oil refining (primary and secondary), engineering works and others.

He also has worked in public listed companies, property developers, legal practice as well as private firms for the last 10 years in various capacities after his stint in the banking sector.

Currently, he is providing training, advisory and consultancy services to various organizations and is working in association with Chartered Company Secretaries, Chartered Accountants, Licensed Tax Agents, Banking and Financial Personnel, Advocates & Solicitors as well Trainers and Resource Speakers.

Having being on both sides of the negotiating table, he is able to step in both the Bankers’ and Entrepreneurs’ shoes. His extensive experience and knowledge are invaluable and will add another dimension to this book.

He was also an invited speaker at the 1st Borneo Summit held in Kota Kinabalu, Sabah in November 2013 where he was also featured in the Sabah’s Daily Express, popular English daily.

Preface

When I first started in branch credit in mid 80s, my focus was mainly on the Small Medium Enterprise (SME) and I actually derived a lot satisfaction in getting the facilities approved with minimum security arrangement. With the Banks becoming more and more specialize and moving towards the sales culture, the SME are the ones that are most affected by this departure. After all, the SME is the backbone of the economy and every conglomerate first started out as a SME.

Hence, I felt that I wanted to lay down some guiding framework that could provide some form of guide and assistance to SME and make it a little less painful their quest in getting loans from the Bank.

SME generally faced an uphill take task and this is by no means a magical formula but through the years of experience, passion and lot of heart in putting together this in writing especially for those companies that are just starting out and have entered the growth stage.

Hence it is very important to bridge the gap with the Bank because the Bank could help you to grow.

Acknowledgement

I would like to thank Dunstan Chan, a speaker, a columnist and a story teller whom I met at the 1st Borneo Summit in Kota Kinabalu in November 2013 who had encouraged me to go for it and prompted me to take the first small step. Like they say, the journey of 1,000 km begins with the first step.

Wong Tee Fatt, a former veteran banker turned developer, with extensive experience with Malaysia’s largest banking group, Maybank, shared his insight and helped with the proof reading as well as offered invaluable suggestions for its improvement of this book.

Dr George Lau, an ex-banker turned training guru, whom I worked with previously saw the potential and created an opportunity for me to turn this book into a training seminar/workshop for new as well as existing business owners.

Many thanks to Koay Cheng Leong, a former banker turned entrepreneur and photographer, who helped me with the photo shoot for this book.

Book Reviews

Finally… A practical guide that bridge the gap between the SME and the Banks

– Dato’ Kurnia Jasa Budiman Wong Seng Chow, AMN, JP, DSNS

"…useful guide for the new business person covering a