UKM Urges Student Entrepreneurs To Keep Proper Documentation

FRIDAY, 27 DECEMBER 2013 08:14

By Nurul Haziqah Abdul Halim
Pix Ra’ai Osman

BANGI, 2 December 2013 – Entrepreneurs trained by The National University of Malaysia (UKM) must show proof to their financiers that their projects are profitable.

The Director of UKM’s Centre for Entrepreneurship and SMEs Development (CESMED) Prof Dr Mohd Fauzi Mohd Jani said banks want to see proper documents to support the businessmen’s claims as to how their loans are being  used in their enterprise.

Opening the Entrepreneurship TechnoCount Programme (ETP) here today, Prof Mohd Fauzi said the problem of flow of information and communication between banks and entrepreneurs stems from the confusion of where the money goes to.

“When an entrepreneur says he managed to gain in RM30, 000 a day but the banks cannot see any documents to support it, it is not there,” he explained.

However, he said the problem of accounting management was being looked into.

The event was organised by UKM-CESMED after the Ministry of Education had given UKM a mandate to train 500 students from 14 other universities  throughout Malaysia following problems in documentation for most of the small and medium enterprises (SME’s).

Managing Director of Mydin Mohamed Holdings Bhd Datuk Wira Dr Hj Ameer Ali   opened the event.

UKM-CESMED and  Senior Consultants selected 16 Junior Consultants (JC), which consists of 14 UKM students and 2 UiTM students.

According to Prof Fauzi, in 2013, a total of 663 university students and graduates, 81% of whom are majoring in accounting and the remainder majoring in finance, marketing, entrepreneurship, and economic development, had joined TechnoCount.