Top 10 trends affecting SMEs in 2019
Sharina Ahmad | 05 Apr 2019 00:30
Every year there are missed opportunities for businesses in the past year for them to reflect on. This is especially true for small and medium enterprises (SMEs), with peaks and valleys when coping with the current challenging and changing environment.
Whether the changes are in technology, marketing, finance or public policy, SMEs need to be aware of all these external factors in addition to their internal operations.
According to SME Corp Malaysia, SMEs play a significant role in Malaysia’s economy, accounting for 98.5% of the business establishments, and contributing about 37.1% to Malaysia’s gross domestic product in 2017. Category-wise, 76.5% are micro SMEs, 21.2% are small SMEs and only 2.3% are medium-sized SMEs.
Hence, SMES are just too important for the government to ignore. In fact, many economists observe that it is the SMEs which ensure that the Malaysian economy chugs along despite external headwinds.
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