Whether you’re an Small-Medium Business (SMB), Small-Medium Enterprise (SME) or a Large Enterprise, a business profile (profil perniagaan) or company profile should be your top priority.
Why every business needs a company profile
In essence, a company profile (profil syarikat) includes everything your company is about and what it offers.
Every written document is targeted to a certain group of people. A company profile is no different.
So who should a company profile in Malaysia be for? Why should your business need one? We uncover that mystery once and for all.
1. Target Customer
You’re an up and coming business, surely you are aware of who your target market is, right?
A company profile lets your prospects know exactly what they are offered. Be as transparent as you can to gain trust from your potential clients.
They need a problem-solver, so you as a product or service provider should help resolve them better than your competitors.
You need to be in your customer’s shoes. Put in information that can make them say ‘This company looks promising’.
2. Government Project Tender
Appealing to your customers is easy compared to government officials.
Especially for something as important as a government project tender application.
That is why corporate profiles should include specific and in-detail information about products or services, finance, projects and more.
For more information on Government Tenders, head over to the Ministry of Works Official Portal.
3. Open Tender
A client will usually advertise an invitation of tender submission for a supply of goods or services. Each interested organization is given equal opportunity to submit a tender. Larger projects go through screening also known as a pre-qualification process.
Have a company profile so your tender submission has a better advantage of being selected.
This in mind, a generic company profile won’t do! You will need to impress the client with your company’s strength and credibility.
Include relevant information such as a product/service brochure and your affiliated suppliers, labor and raw material manufacturers.
With a remarkable representation, your client will find yours hard to say no to.
4. Financial Institutions / Commercial Banks
When applying for a business loan from financial institutions or commercial banks, your goal should be to convince them that your business is successful enough to repay the loan.
Writing a business loan proposal each time you’re applying is time consuming and exhaustive so prepare a company profile versatile enough for every purpose.
A winning business loan proposal (read: company profile) must include your financial management and your list of projects to gain the bank’s trust.
Never make mountains out of mole hills. Be completely accurate and valid or else your proposal may be rejected without negotiation.
5. Federal and State Government Departments
In Malaysia, a business must apply for business licenses from state authorities. However, there are several businesses that are obligated to acquire special licenses (refer Licensing Requirements for Doing Business in Malaysia for more details).
Local authorities require your company’s information for the purpose of approval and records. Be as detailed as possible so they have in hand your business profile as reference should any problems or issues arise.
6. Potential Investors
For any business, a start-up or an established business needs an investor-ready company profile. With a professionally prepared design, you have a better chance at grasping venture capitalists and angel investors.
A business plan for a start-up is great for investors but a company profile can be used across many other purposes. You’re trying to impress somebody who doesn’t know you so the first impression is everything!
Let your potential investors know your visions and aspirations to convince them you have a promising business for investor’s ROI.
As for an established business, it is important to highlight your annual capital, how much you earn and what is in store in the future.
The key here is to be convincing. Your business pitch must be persuasive enough so merge those details in your company profile to strengthen your stance.
So what’s your purpose?
Now that you know how multi-purpose a business company profile can be, use it to your advantage by making the most out of your own.
Content is king so dress it up like a king with a price you can afford. Read The Cost to Make a Company Profile: 4 Charges to know what you’re paying for.
Your company profile can be as detailed as you like! But it’s best to leave the engineering of designing to the professionals. They can present your ideas better than you would’ve expected.