KUALA LUMPUR: Awards for small and medium enterprises (SMEs) should go beyond just recognising their success, says the Entrepreneur Development and Cooperatives Minister.
Speaking at the launch of the 24th edition of the Enterprise 50 (E50) Awards, Steven Sim said the initiative was a longstanding testament to the resilience of local SMEs and strength of public-private collaboration.
Sim said the E50 recognition must go beyond symbolic acknowledgement, stating that such awards should carry an added value.
“It cannot just be a certificate on the wall. It must open doors to financing, to markets and to priority access,” he said in his speech during the event held at a hotel here yesterday.
Sim said the programme’s continuity since 1997 was not only a testament to the support given to micro, small and medium enterprises, but also to the strategic cooperation between the government and various stakeholders.
To sustain the programme’s momentum, this year’s E50 Awards was held alongside the E50 Export Conference and E50 Business Matching sessions.
Sim said these platforms aimed to expand commercial opportunities, strengthen trade networks and support export growth among local SMEs, mainly for E50 alumni.
“The Export Conference will not only address issues and challenges of penetrating overseas markets, but also explore new export opportunities through regional and global trade agreements that can be leveraged by our companies,” he added.
The minister said market access was central to his reform agenda, citing the example of five Malaysian companies sent to Saudi Arabia under a government initiative.
He said the companies were not sent there as a delegation or merely to participate in an exhibition, but to formalise contracts worth RM2bil.
“This is just the beginning, we are not going abroad for exploration alone. We are going to sign real contracts. We are opening doors in Saudi Arabia, China and other markets. Our SMEs must think bigger,” he added.
Sim spoke of his vision targeting 10,000 SMEs to grow bigger. “I do not want you to remain small. I want you to grow beyond the SME category.
“Being recognised as an E50 should represent the ceiling of excellence stamping you as among the best SMEs in Malaysia,” he added.
Sim said ratings and certifications were meaningless without tangible benefits, adding that his ministry was working to strengthen SME accreditation so that it translated into measurable advantages, mainly in financing.
“When an SME carries official recognition, the banks should see that we have already done the filtering. It should not be another hurdle. It should fast-track them,” he said.
