What is the progress of SMEs in Malaysia?
Over the years, policies, strategies, initiatives and incentives to promote SME development have been charted in all of the nation’s economic development plans.
According to the SME Annual Report 2009/10, there are almost 550,000 SMEs in Malaysia, which accounted for about 99% of total business establishments, 56% of total employment and 19% of the total exports of the country. Of these, 87% of them are the services enterprises, seven per cent are manufacturing establishments and six per cent in agricultural sector (Figure 2). Out of these total SMEs, nearly 80% are micro enterprises, with majority of them in the service line.
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