Malaysia’s zombie MSMEs FMTNews FMTEng
Micro small and medium enterprises are the backbone of the Malaysian economy, making up 97.4% of the business enterprises in the country. That amounts to 1,226,494 businesses, of which 903,174 are micro-enterprises.
A significant number of bankruptcies are clearly falling on the proprietors of MSMEs, due to the range of debt. Venture capital avenues are also out of the reach of most MSMEs, as they are neither innovation-based start-ups, nor have any competitive advantages that serve as barriers to entry of other firms. Venture capital and even crowdfunding is geared more towards innovation-based start-ups, which are considered mid to upper-tier SMEs, which only make up 2.0 percent of the total number of SMEs.
For companies manufacturing food, cosmetics, or traditional medicines, full GMP and HACCP certifications are required, compliance for which may cost many hundreds of thousands of ringgit to comply with. However, the devil will be in the details of how MSMEs can access these funds, and whether they will really reach needy enterprises.
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