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cost, with DARe funding another 70 per cent up
to a maximum of BND20,000.
Other financing options include the DARe
micro business grant of BND5,000; DARe’s
microcredit financing scheme offering up
to BND15,000 with a profit rate of four per
cent; the LiveWIRE Business Awards Start-
Up Funding Scheme which offers a loan of
BND50,000 without interest; and the recently
established Bank Usahawan which offers
financing up to BND750,000 with a variable
profit rate dependent on the bank’s analyses.
According to Javed, DARe is looking at
expanding the incubation space for start-ups –
which allows businesses to operate their own
offices at affordable rates – by refurbishing
unused buildings within Anggerek Desa
Technology Park (ADTP).
DARe providesMSMEswith space for expansion
and growth, including incubation space for
start-ups and industrial land and ready-built
factories for larger businesses. More than 300
businesses occupy 29 industrial sites across
Brunei’s four districts managed by DARe, with
iCentre as the main start-up incubation space in
ADTP alongside Knowledge Hub.
To address inquiries from MSMEs, DARe set
up three Business Support Centres. A flagship
branch is in the capital which houses 13
different government agencies, with branches
in Belait and Temburong. Businesses can access
and submit business applications for permits,
licenses and registrations; obtain business
advice and information; and apply for SME
programmes, grants and loans.
With the growing trend of digital and social
media usage, DARe set up Biz Brunei, an online
news platform to promote inspiring journeys
of local MSMEs on their paths to become
successful entrepreneurs. The site keeps
Bruneians informed on the latest business
opportunities.
The Micro Business Bootcamp ran its first cycle last year