Malaysia - SME Program Efficiency Review
With Small and Medium Enterprises (SMEs) constituting a large proportion of Malaysian enterprises and making significant contributions to employment, GDP, and exports, it is vital for the achievement of Malaysia's development aspirations that...
| Main Authors: | , |
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| Format: | Report |
| Language: | English |
| Published: |
Washington, DC: World Bank
2022
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| Subjects: | |
| Online Access: | http://documents.worldbank.org/curated/en/099255003152238688/P17014606709a70f50856d0799328fb7040 http://hdl.handle.net/10986/37137 |
| Summary: | With Small and Medium Enterprises
(SMEs) constituting a large proportion of Malaysian
enterprises and making significant contributions to
employment, GDP, and exports, it is vital for the
achievement of Malaysia's development aspirations that
these SMEs are enabled to achieve higher levels of
productivity and performance. Malaysian firms in general,
but most particularly its SMEs, face a number of fundamental
issues and challenges related to innovation and the adoption
and effective use of new technologies. The effects of the
rapid evolution of the modern business environment that have
resulted from the introduction of innovative new
technologies and business practices have been exacerbated by
the current high level of uncertainty related to the
pandemic, placing increased emphasis on the need to improve
firm capabilities. The Coronavirus (COVID-19) crisis has
forced businesses to adapt and adopt digital tools in order
to operate in the current environment. Given the
considerable fiscal challenges resulting from the pandemic,
there is an urgent need to recalibrate Malaysia's
provision of public support for SMEs to enable the
post-pandemic recovery to be driven by the private sector.
In this context, the overall objective of this study is to
analyse the composition of Malaysia's SME and
entrepreneurship support policies so as to identify
opportunities to decrease redundancies and to increase
efficiencies by ensuring that public support towards SME
development responds effectively to the most pressing needs
of SMEs. |
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