Finance – IKON Malaysia

how to start a business during economic instability?

11Feb

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Business, Finance, News

how to start a business during economic instability?

HOW TO START A BUSINESS DURING ECONOMIC INSTABILITY? Reality hits us hard. 2020 was one of the worst years for many of us. Various businesses have to be closed down and workers are laid off from their full-time jobs. If you are thinking of starting a business during this crisis, you either have to stand out and have a contingency plan that can sustain your business in the long run. In January, Caroline Castrillon, a contributing writer for Forbes wrote a few ways to start a business during Covid. (All credit goes to the writer and Forbes) Determine your “why” The first step is to take some time to think about why you want to start a business. Are you passionate about a particular product or service? Do you want to make a difference in the community? Or maybe you're finally ready to ...

IMPACT OF COVID-19 ON INVESTMENT: DEEP, PERSISTENT, AND BROAD BASED

26Jan

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Finance, News

IMPACT OF COVID-19 ON INVESTMENT: DEEP, PERSISTENT, AND BROAD BASED

IMPACT OF COVID-19 ON INVESTMENT: DEEP, PERSISTENT, AND BROAD BASED Report based on findings from World Banks. The plunge in global economic activity during the COVID-19 pandemic has been accompanied by an even larger collapse in investment. The investment contraction in 2020 was deeper in advanced economies than in emerging market and developing economies (EMDEs) but the investment downturn in EMDEs was considerably sharper than during the global financial crisis. Against this backdrop, this box addresses three questions about investment in EMDEs: How has the pandemic impacted investment? What are the prospects for it? What will be the long-term effects of the pandemic? Pre-pandemic trends. As the pandemic began, the world had already experienced a decade-long slowdo...

14Jan

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Finance, News

LONG-TERM EFFECTS OF THE PANDEMIC

LONG-TERM EFFECTS OF THE PANDEMIC Report based on findings from World Banks. Lasting investment losses. History suggests that the adverse effects on investment of the pandemic will linger. After epidemics in the past, losses to investment have been deeper and longer lasting than GDP losses, perhaps because of lasting effects of uncertainty and risk aversion on investment (figure B3.2.3). These same mechanisms, along with sharply lower corporate profits, can be expected to constrain investment during and after the COVID-19 pandemic (Caballero and Simsek 2020; Stiglitz 2020). Weak investment, a source of slowing potential growth. The prospect of weak investment in EMDEs during the medium to long term, after the severe contraction in 2020, raises concerns about the effects on EMDEs’ po...

Bank of 2030: The Future of Bank Transformation

5Jan

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Finance, News

Bank of 2030: The Future of Bank Transformation

Bank of 2030: The Future of Bank Transformation According to research by Forrester, by 2030, banks will be: Invisible. Leading banks will use technology and far deeper customer insight to insert financial services at the customer’s moment of need, often at the expense of brand visibility. Distribution models are evolving to make use of marketplaces and technologies such as open APIs and 5G to connect finance with homes, machinery, vehicles, and other devices. This will pose challenges for many banks as their retail brands become increasingly invisible to the end consumer. Connected. To remain relevant, banks must be present in the ecosystems and products that customers use; to do this, they must cease to see partnerships — and intermediation of their brand — as a threat. Ban...

The Pressing Need for An Inclusive Post-Pandemic Recovery

24Nov

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Business, Finance, Innovation/ Technology, News

The Pressing Need for An Inclusive Post-Pandemic Recovery

The Pressing Need for An Inclusive Post-Pandemic Recovery Prime Minister Tan Sri Muhyiddin Yassin has called leaders in the Asia-Pacific region to work towards an inclusive post-pandemic economic recovery. In his speech at the virtual APEC CEO Dialogues Malaysia 2020, Muhyiddin said that countries must reaffirm their commitment a rules-based multilateral trading system as nations would need to trade and invest their way out of the current economic downturn, according to The Malaysian Reserve. “This is essential for our businesses, as market stability and predictability are the central pillars which ensure that trade and investment continue to flow, even during times of crisis,” “It is in this spirit that we hope to implement the APEC Post-2020 Vision. This Vision, which is set to...

Biggest Budget Might Not Be Biggest Win For SMEs

20Nov

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Business, Finance

Biggest Budget Might Not Be Biggest Win For SMEs

BIGGEST BUDGET MIGHT NOT BE BIGGEST WIN FOR SMEs Government need to simplify and speed up incentive programmes approval process The Finance Minister tabled the biggest budget ever in Malaysia history on 6 Nov totaling RM 322.5bil. BIZSPHERE Brand and Marketing Group (BIZSPHERE) – a SME branding and business consulting company applaud the government’s commitment in protecting the livelihood of the people and economy. Overall, there is a lot of allocation for SME financing, upskilling and reskilling as well as some for digitalization. BIZSPHERE saw the budget as a survival budget to mitigate the present challenges and to balance the importance of life and livelihood. It lacks focus on revitalizing the economy which allows business to be sustainable in the long term. SMEs f...

13Nov

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Finance

Budget 2021 Announced

Budget 2021 Announced The Malaysia Finance Minister recently announced budget 2021, and it is the largest allocation by the government yet. Though the budget brings lots of goodies to help industries affected by the pandemic to stand on their feet, yet some industries felt the pinch of the budget as it does not cater to their favour.

The Dos and Don’ts of Finances During A Pandemic

31Mar

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Business, Finance

The Dos and Don’ts of Finances During A Pandemic

During trying times like the pandemic now, managing finances is a big worry for many people. People would usually panic and go into survival mode, and usually it never ends well for them financially. They would lose sense of their priorities, and then not know what to do when they no longer have the required amount to survive in a lockdown. Here are some dos and don'ts of financial management during a pandemic lockdown. Do cut down on spending As of today, the world has been officially announced to be in a global recession due to the COVID-19 pandemic. Medical officers and authority figures are always on the run 24/7, and the average joes are expected to stay home most of the time. The numbers are still rising, infection rate and mortality rate included. With all these worries, being ...