It allows small businesses a chance to win an award and be recognised

THE Star Outstanding Business Awards (SOBA), which is in the running for the second year, is a platform for up-and-coming as well as small and medium enterprises (SMEs) to grow and expand their businesses.

Some of the previous winners are now looking to tap on public funds via initial public offerings while others are moving along and making further inroads in the local and international markets.

What makes SOBA meaningful? It allows small businesses a chance to win an award and be recognised for their achievements. It also gives due recognition for their hard work, which in turn enhances consumer confidence of their products and services.

In line with the Government's commitment to develop home grown enterprises, SOBA seeks to inspire and encourage local businesses to promote Malaysia and showcase its products and services to the world.

To encourage businesses to soar beyond the local shores, awards will be presented to local companies or SMEs for their excellence in areas that span across different sectors. This goes beyond the bottomline. Consideration will be given to those that are at the forefront in anticipating the future needs of not only the company but of the economic sector in which they operate.

Last year there were nine categories of the awards, but for SOBA 2011 two more categories were added the Innovation and Rising Star awards.

The former is awarded to a local enterprise with innovative ideas, processes, products or services that have contributed to the success of the company, its employees and stakeholders.

 Syed Hussien: National aspiration is one of the criteria to judge a winner.

While the latter is bestowed to a new and up-and-coming enterprise that has displayed great potential to become a successful player in the local or international markets.

The previous SME of the Year Award will now be known as Business of the Year Award to broaden the spectrum of eligible nominees, from SMEs to non-public listed companies.

The 10 award categories that are open to nominations are Technology/ICT, Best Use of Media, Outstanding Malaysian Brand, Community, Environment, Best Employer, Innovation, Global Market, Rising Star, and Entrepreneur of the Year.

The 11th category, Business of the Year Award, will be decided by an independent panel of judges based on overall ratings. The awards are open to all local enterprises that are not part of a multinational group or listed group and incorporated in Malaysia with foreign equity not exceeding 50%. Deadline for submission is Aug 15.

National Chamber of Commerce and Industry of Malaysia (NCCIM) secretary-general Datuk Syed Hussien Al Habshee says, as one of the panel of judges of SOBA, national aspiration is one of the criteria to judge a winner. National aspiration broadly means devotion to the interest and culture of one's nation.

“For NCCIM, companies or SMEs that support or promote national aspiration or take efforts towards achieving it in the course of their business operations will be taken into account when voting for the winners,'' he adds. For the innovation category, he says in line with the Government's Economic Transformation Programme (ETP) to develop the nation into a high income nation, companies vying for this category besides exhibiting innovation in their products and services should also be willing to change.

Syed Hussien adds that with around 300,000 constituents members it will be able to assist in the dissemination of information on SOBA to its members via its website.

Currently, NCCIM has five constituent chambers under its fold - Malay Chamber of Commerce Malaysia, Associated Chinese Chambers of Commerce and Industry Malaysia, Malaysian Associated Indian Chambers of Commerce and Industry, Federation of Malaysian Manufacturers and Malaysian International Chamber of Commerce and Industry.

He also emphasised the importance of micro enterprises to the country's economy and feels more should be done to help this segment further grow. In terms of establishment by sector, based on the SME Annual Report 2009/2010, there were 434,939 micro enterprises from a total of 548,267 SMEs and the majority - 381,585, comprising micro enterprises were from the services sector.

Syed Hussien says SMEs should be assisted not only in terms of the provision of grants but in the form of other non-monetary assistance. One of which include the appointment of special consultants financed by conglomerates like in Japan where they help SMEs in the financial and legal aspect of their businesses.

His aspiration for SOBA is to be a brand and premier award and one which is recognised at the national and international levels in the near future. SOBA 2011 is organised by The Star with Exim Bank as presenter and BMW Malaysia as gold sponsor. It is supported by Bursa Malaysia and audited by BDO. The Royale Chulan Kuala Lumpur is the Official Hotel Partner, Bernama TV the Official TV News Partner, Shang Hai the official business magazine and 98.8FM the official radio station.