Sun Life Malaysia, a life insurance and family takaful provider, has partnered with Yayasan Usahawan Malaysia to become the ‘Official Insurance Partner’ for SME and Entrepreneurs Business Awards (SEBA) 2022.
Through this partnership, Sun Life Malaysia aims to help SMEs build financial resilience and better manage their risks for a secure financial future.
Sun Life Malaysia chief executive officer and president/country head Raymond Lew said the company has always championed a proactive approach towards protection and legacy planning.
“Since the onset of the pandemic, there has been rising awareness on the importance of building business resilience. We hope our expert knowledge will provide the participating small-and-medium-sized enterprises (SMEs) with the necessary guidance in navigating unexpected challenges and building financial resilience,” he said.
As Malaysia transitions into an endemic stage, the economy is set on a recovery path, providing a conducive environment for businesses to rebuild and simultaneously strengthen their operations.
If SMEs wish to survive future uncertainties, they need to understand and implement the factors that drive business longevity from the onset, according to Sun Life Malaysia. This includes setting up a contingency plan, wealth planning, accumulation, and distribution, for them to be passed on when the time comes.
The theme of the 7th SEBA instalment is “Rise Up,” which highlights businesses and entrepreneurs who have overcome the hurdles of the pandemic and other unforeseen circumstances.
Yayasan Usahawan Malaysia chairman and SEBA founder Nitesh Malani said the pandemic was a real test of business resilience which many SMEs were unprepared for.
“Now that the Malaysian economy is picking up and consumer spending is increasing, we are optimistic that SME owners and entrepreneurs are poised to make a strong return. With a helping hand from Sun Life Malaysia, and their extensive protection offerings, local business will have a reliable source to turn to in times of need,” he said.
While the immediate focus of many SMEs is to grow business and profitability, Sun Life Malaysia urges them to not lose sight of their long-term financial security as wealth building and accumulation is a progressive journey and it requires good planning and persistence.
