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Focus on SMEs to global markets to propel state’s economy

Tuesday, 15 November 2016

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KUCHING: Stimulating growth of small and medium enterprises (SMEs) in the global market through increased productivity remains a key focus to propel the state’s economy.

According to Industrial and Entrepreneur Development, Trade and Investment Minister, Datuk Amar Awang Tengah Ali Hasan, SMEs are encouraged to enhance business management through collaboration with the Malaysia Productivity Corporation (MPC).

SMEs, making up to 97% of the total business establishment in the state, contribute significantly to the state economic growth.

Last year, SMEs nationwide contributed 36.3% to the country’s gross domestic product, while employment share rose to 65.5% and export to 17.6%.

SMEs were becoming a key catalyst to growth towards achieving a high income and inclusive nation by 2020.

Companies are encouraged to accelerate their improvement initiatives, reduce wastages and at the same time compete to raise performance standards.

SMEs must be proactive, creative and innovative, leveraging on technology in order to be competitive in today’s challenging business environment.

It is an integrated management approach that resulted in delivery of ever-improving value to customers, improving overall organisational effectiveness and capabilities as well as organisational and personal learning.

Source by: Internet

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