Through the lens of SME Corp
The National SME Development Council (NSDC), a unit of SME Corp Malaysia, is developing a strategy to improve productivity of small companies that will also include methods for young people, women and rural communities to participate in.
The Micro Enterprise Breakout Strategy (MEBS) is part of the SME Corp plan to make small companies prosper despite their size.
SMEs play an important role in shaping the Malaysian economy and in its drive to catapult them into the global arena, numerous viable policies and initiatives are in place to steer them onto the right path of positive growth.
SME Corp CEO Datuk Hafsah Hashim said under the MEBS, there five focussed programmes that have been planned to be launched this year together with all related Ministries and Agencies: Start- MEup, GrowME, MarketME, FastrackME and MEMoneymatter.
Through these strategies, the government expects to fulfil seven goals in stages by 2020 to increase SME participation on the global arena.
Hafsah said only last month, the incentive for mergers and acquisitions (M&As) of small and medium service providers had been launched.
“This is another initiative to increase the competitiveness and help SMEs in the services sector in their M&A endeavours,” added Hafsah.
She said companies in the services sector in Malaysia, even though many in numbers, are fragmented and hence have limited capabilities and capacities in terms of skilled employees, knowledge and expertise, financial resources and marketing.
“These are all but just a fraction of the initiatives mooted by the government to accelerate the growth of SMEs. However, SMEs must go beyond these government initiatives to have sustainability and retain their ability, not only in the local industries but beyond, in the global arena,” she said.
SME Talk Series
The government initiatives, Hafsah said, can be further enhanced by the private sector to include SMEs through platforms such as the SME Talk Series to help local companies expand and depart from the norm.
On Feb 14, ABX Express (M) Sdn Bhd, a Malaysian courier company, shared their business knowledge and experience on best practices to power up business performance with representatives from the local small businesses.
Hafsah reiterated that such efforts by the private sector in supporting and complementing the various initiatives undertaken by the government goes a long way to develop SMEs in the country.
Spreading Information to the Business Community
“This is the kind of initiative the government is looking at, for private sectors to come forward and share its business experience and help the government to reach out to even more SMEs,” she said.
The SME Talk Series is organised as a platform for sharing ideas and interacting between SMEs of all shapes and sizes.
It serves as a significant platform of opportunities for networking, development and growth in all the major aspects of business.
Hafsah said the SME Talk Series can actually be regarded as a valuable hub for learning and sharing, as business solutions opportunities and interactive activities are some of the complimentary elements to guide the SMEs onto the right track.
She said SMEs can benefit from the SME Talk Series and learn from experienced entrepreneurs and prepare themselves to become better and propel their business growth to the next level.
— The Malaysian Reserve, 6 March 2014