THE goal of Malaysia becoming a high-income nation under the Vision 2020 initiative is a challenging task and doesn’t get easier by the day.
As the sector with the largest number of businesses in the country, the small and medium-sized enterprises (SMEs) sector is being counted on to increase its contribution to the nation’s gross domestic product from 32% in 2010 to 41% by year 2020, as well as increasing its share of exports from 19% in 2010 to 25% by 2020, among other things, according to the SME Masterplan 2012-2020.