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Empowering Womenpreneurs: A UOB Collaboration for Growth
The #UOBxWomenpreneurs series on 15 October 2024, in collaboration with Business Banking Singapore (BBS), Boston Consulting Group (BCG) and UOB FinLab, reflects the bank’s continuous commitment to supporting small- and medium-sized enterprises (SMEs). UOB hosted the third and final session of the networking event this year, offering participants valuable insights from industry experts on Financial Literacy for Businesses. Attendees also engaged in a dynamic women leaders’ panel discussion and participated in a hands-on workshop led by Boston Consulting Group, focused on their RISE Lite programme.
Welcome Address
Munal Rathore, Managing Director and Partner, Boston Consulting Group
Paul Kan, Country Head of Business Banking Singapore, UOB
The networking session kicked off with a warm welcome from Munal Rathore, followed by Paul Kan, who emphasised UOB’s commitment to empowering women entrepreneurs through mentorship, networking opportunities, and valuable learning experiences.
Panel Discussion: Empowering Women Leaders and Entrepreneurs: Balancing Risks and Rewards
From left to right, Marianne Tan, Programme Director, UOB FinLab, Mariam Jaafar, Senior Partner, Boston Consulting Group, Belinda Yeo, Founder & Managing Director, Innovez Engineering, Bridget Tai, Executive Director, Sonata Dancewear.
From left to right, Shannon Lung, Head of UOB FinLab, Paul Kan, Marianne Tan, Mariam Jaafar, Belinda Yeo, Bridget Tai, Shaun Tan, Programme Director, UOB FinLab, Benedict Tay, Head of CED and Ecosystem Partnership, UOB
UOB invited three distinguished speakers to share about balancing risks and rewards during a panel discussion moderated by Marianne Tan, Programme Director, UOB FinLab.
- Mariam Jaafar, Senior Partner at Boston Consulting Group, advised women entrepreneurs to put themselves out there and be their authentic selves. She shared that women tend to perform better in strengths-based development and encouraged women entrepreneurs to identify their strengths and leverage them.
- Belinda Yeo, Founder & Managing Director at Innovez Engineering, spoke about her journey managing a business in a male-dominated industry, highlighting the importance of challenging stereotypes and being firm yet fair when managing conflict.
- Bridget Tai, Executive Director at Sonata Dancewear, discussed how she leveraged trends to boost demand for her business. She also touched on the challenges she encountered during her digitalisation journey and how it ultimately benefited her business. Additionally, she shared her struggles and lessons learned from managing a mass-production retail business as a second-generation business owner.
Financial Literacy for SMEs: Optimising Business Finances
Rachel Sim, Head of Core District, Business Banking Singapore
Rachel Sim from UOB Business Banking emphasised the importance of financial literacy for business leaders, highlighting its impact on unlocking growth opportunities and ensuring effective cash flow management. She identified common challenges faced by SMEs, including difficulties in accessing capital, poor cashflow management and overspending. Rachel offered valuable advice on managing business finances, providing practical steps that business owners can take to improve financial literacy and strengthen their financial management practices.
Collaboration and Continuous Support: Driving Innovation for SMEs
Shaun Tan, Programme Director, UOB FinLab
Shaun Tan from UOB FinLab discussed the importance of continuous support for SMEs and UOB FinLab’s commitment to providing tailored solutions for innovation and growth. He noted that collaboration is essential for fostering innovation and success, reinforcing UOB’s dedication to supporting SMEs through customised programs aimed at better educating women-led businesses.
Activity time: Networking Bingo
Mrs Dwi Yuliawati Faiz, Officer-in-Charge for Country Representative, UN Women Indonesia, promoting gender-responsive business through Women Empowerment Principles.
Mr Criest Robet, Trade Sales Business Banking, UOBI, addressing the topic on optimising export and import operations, including strategies for efficient trade finance and risk management.
Prior to the lunch break, participants enjoyed a lively Networking Bingo game that encouraged them to connect with various womenpreneurs, forge new friendships, and share their stories. Those who completed their cards were rewarded with a prize, adding an exciting incentive to the engaging experience.
Scaling New Heights: Embracing Growth Through Gen AI
Tom Goh led a workshop on digital transformation and growth through Generative AI, introducing the RISE by BCG program, which aims to empower Singapore’s talent pool with upskilling opportunities to cultivate in-demand skills. He showcased the remarkable advancements in this technology, outlined six critical success factors for digitalisation, and highlighted how many SMEs are enhancing their digital skills. Additionally, he provided valuable advice on customised prompts for business owners to achieve optimal results.
The #UOBxWomenpreneurs series underscores UOB’s dedication to empowering women entrepreneurs and promoting SME growth. Participants benefited from insightful discussions, interactive workshops, and valuable networking opportunities, equipping them with essential skills to navigate entrepreneurship challenges. The experiences shared by industry leaders inspired attendees and highlighted the significance of resilience and continuous learning. Moving forward, UOB is committed to fostering innovation and creating a supportive ecosystem for womenpreneurs to thrive.
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