Stay aggressive, diversify

SMEs should diversify their business in order to thrive, says Tio.

With the economy going through a cycle of booms and busts every 10 years or so, businesses need to diversify and look for opportunities to move up the value chain in their respective industries. JOY LEE reports.

BUSINESSES are employing various cost-cutting measures to weather the current weak economy. But PKT Logistics Group Sdn Bhd CEO Datuk Michael Tio says small and medium enterprises (SMEs) should also look into other strategies, such as diversification and moving up the value chain, in order not only to survive but to thrive.