PUTRAJAYA: Micro, small and medium enterprises (MSMEs) now provide livelihoods to more than eight million workers, further cementing their role as a key pillar of the country’s economy, says Entrepreneur Development and Cooperatives Minister Steven Sim (pic).
He said this represents almost half of the national workforce, covering jobs in retail, food and beverage, small manufacturing and services that form the backbone of the local economy.
“Behind every grocery store, restaurant, small factory, service company and family business, there are millions of people who rely on MSMEs as their source of livelihood and foundation of life.
“Although the world today faces various challenges, including rising operational costs due to the global supply crisis and geopolitical uncertainties, the MSME sector remains the backbone of the people’s economy,” he said in a statement yesterday, Bernama reported.
The document was issued in conjunction with International MSME Day 2026.
Realising the importance of the role of MSMEs to the economy and the people’s well-being, Sim said the government remains committed to strengthening the support ecosystem for that sector by implementing 344 entrepreneurship and MSME development programmes last year, involving an allocation of RM31.63bil.
“As a result, 6,600 new entrepreneurs were successfully created, whereas 50,000 MSMEs showed improved business management, while 8,000 MSMEs successfully digitised their operations,” he said.
He said MSMEs receiving government assistance also recorded an increase in sales of RM870mil and export sales of RM6.8bil, demonstrating the effectiveness of the implemented interventions.
For this year, Sim said over 300 MSME development programmes have been planned with a total allocation exceeding RM60bil, covering financing, human capital development, market access, infrastructure and the adoption of technology and innovation,” he added.
He said the ministry’s aspiration is to ensure MSMEs continue to operate while elevating them to a higher level, from small enterprises to high-value companies, and from the local market to the international market.
