THE outlook for small and medium enterprises (SME) next year will depend on the outcome of the ongoing conflicts of Ukraine-Russia and others in the world.
According to Small and Medium Enterprises Association of Malaysia (Samenta) national president Datuk William Ng, the outlook for SMEs would be better if the wars do not escalate.
“I think we have seen in the past year that many of the logistical and supply chain issues that we face have begun to resolve.”
He said the association could help SMEs move up the value chain.
He added that the association wanted all SME industry players not to remain just original equipment manufacturers (OEM), but to eventually be an original brand owner (OBM) so that the industry players would be able to get better margins and improve their value.
On the manpower shortage of foreign workers in the SME industry, Ng said generally the issues were being resolved, and the proposed multi-tiered levy by the government would further alleviate the problem.
He said although the scheme was still being finalised, Samenta in principle supported the initiative if some of the additional income that the government would generate from the levy could flow back to SMEs in terms of training and upscaling skills of SME workers.Earlier, he attended a luncheon organised by Samenta to introduce new northern region committee members who will serve in the 2023-2026 term.
The luncheon was attended by more than 200 Samenta members who are SME industry players from all over Malaysia.
During his speech, Ng called upon the new committee to protect the 37-year legacy of the association so that the association could continue to speak up for the 1.2 million SMEs in Penang and Malaysia.
Penang Chief Minister Chow Kon Yeow, who also attended the luncheon, said Samenta had played a significant role in helping SMEs in Malaysia to grow and succeed.
“Serving as a bridge between business owners and their relevant stakeholders, Samenta has allowed members to voice their concerns and tackle the challenges they encounter.
“This is crucial in improving the overall business environment for SMEs,” he said.
Chow said he was delighted to witness the growth and transformation of homegrown companies in Penang in tandem with the multinational corporations operating in the state.
He said this demonstrated the strength of Penang’s industrial eco-system, which provided an ideal platform for local businesses to engage with consumers and flourish.
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