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News & Events

[ 13-01-2014 ]
M'sia small and medium enterprises sector seen growing further next year

KUALA LUMPUR: The Malaysian small and medium enterprise (SME) sector is expected to continue on a sustained growth path and expand further in 2014, supported by sustained domestic demand, higher tourism activities and improvement in exports.       

A recent survey by SME Corp Malaysia showed that more than 50% of respondents expected better performance next year.       

“In addition, the Government through the Budget 2014 has taken the necessary measures to ensure that the SMEs are not adversely affected by the ongoing policy reforms. These include the minimum wage policy introduced this year and the recently announced goods and services tax which will come into effect on April 1, 2015,” SME Corp Malaysia CEO Datuk Hafsah Hashim told Bernama.

She said the measures in the budget would contribute towards creating an overall conducive entrepreneurship ecosystem as well as in achieving the goals of the SME Masterplan, which is to promote innovative and high growth firms, increase business formation and enhance productivity.

The SME Masterplan (2012-2020) launched in July last year, is aimed at raising the contribution of SMEs to the economy, from 32% of gross domestic product currently to 41% by 2020, employment from 59% to 62%, and exports from 19% to 25% — Bernama