We have big expectations for small
and medium enterprises (SMEs) in Malaysia.
SMEs are estimated to contribute the following to the economy by 2020, if
the implementation of the SME Masterplan 2012-2020 is successful:
- Share of GDP will increase to 41%
- Share of employment will increase to 62%; and
- Share of exports will increase to 25%.
Just because we’re small doesn’t mean that we don’t pack a punch. Image Credit: www.geeksofdoom.com
However, a recent statement made by SME Corporation Malaysia chief executive
Datuk Hafsah Hashim on SMEs not registering due to fear of high registration
costs and attracting higher tax rates[1] highlights
the need for extra aid for these smaller businesses. As such, this article
attempts to shed some light on some of the bodies/organisations that are
involved in development of SMEs in Malaysia.
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