Enhancing the Performance of SMEs
As the need to rely on domestic demand and domestic-oriented industries for the nation’s economic growth increases, the Government will continue to provide support to strengthen the SMEs by introducing new measures and rationalizing existing efforts to further develop resilient SMEs. Among the measures that has been identified, are:-
- To improve the institutional support system;
- To facilitate accessibility to financing;
- To upgrade technological skills;
- To enhance market access;
- To promote the greater usage of ICT; and
- To increase awareness of product branding and protection of intellectual property rights.
In promoting and upgrading Bumiputera SMEs under the Bumiputera Commercial and Industrial Community (BCIC), efforts will be intensified to assist Bumiputera entrepreneurs improve their skills in business management, ICT, R&D, product development and marketing as well as establish strategic alliances with non-Bumiputera entrepreneurs.
To enable SMEs in rural industries to penetrate world markets, efforts to enhance their competitiveness will be intensified. The concept of one district one industry will be strengthened to cover a wider area of participation. Efforts will be geared towards enhancing the use of technology in rural industry production processes, acquiring quality accreditation and upgrading market promotion by establishing links with corporate and international clients.