PETALING JAYA: Small and medium enterprises (SMEs) need better access to financing, less bureaucratic red tape and practical support to manage rising business costs if they are to move beyond survival and achieve sustainable growth, says Datuk Chong Sin Woon.
The MCA secretary-general said this is because many SMEs are still struggling with financing, manpower needs and other day-to-day operational pressures.
“While the macro targets of Budget 2027 present an expansionary outlook, our small and medium enterprises continue to navigate tough ground-level realities.
“Shifting local businesses from mere survival to true greatness demands actionable solutions rather than high-level slogans,” he said in a Facebook post on Wednesday (Oct 21).
He also stressed the importance of developing a financial ecosystem that eases loan accessibility and fosters equity funding, alongside a statutory "Deemed Approval" framework that cuts bureaucratic red tape so businesses can move at market speed.
“Equally vital is bridging the divide between top-down high-tech ambitions and actual SME operational readiness.
“Real economic resilience begins when our policies directly alleviate cost pressures, support essential workforce skills, and strengthen our grassroots enterprises to compete regionally,” he said.
Earlier on Wednesday, Chong was also part of a special panel discussion themed "No Holds Barred - Policy Makers vs SMEs," at the SME CEO Forum.
Also on the panel were economics professor Yeah Kim Leng and former Petaling Jaya MP Lee Chean Chung.
It was moderated by Small and Medium Enterprises Association president Datuk William Ng.
