A helping hand for SMEs

SMEs are recognised as vital in the development of a healthy economy. The Ninth Malaysia Plan outlines the government's commitment in producing globally competitive and resilient SMEs through relevant initiatives and programmes.

The National SME Development Council (NSDC) was formed to formulate policies and strategies for SME development. Headed by the Prime Minister and comprising heads of ministries and agencies, the council has adopted measures to strengthen infrastructure for SME development, facilitate access to finance and build SMEs' capacity and capability.

Bank Negara Malaysia is the secretariat to the NSDC, which takes on the role of ensuring that a comprehensive programme for SME development is formulated, and effectively implemented.

SME Corporation (previously known as SMIDEC) under the International Trade and Industry Ministry ensures SME development programmes, as well as financial assistance schemes in various ministries and agencies, are effectively implemented.

Through SME Corp, the government offers technical support, consultancy and networking opportunities to give SMEs an edge when competing with other players in the market. SME Corp also extends training to enhance the competitiveness of local women entrepreneurs. Currently dedicated franchise programmes are extended to women and graduate entrepreneurs.

For easy access to information on SME development, the SME info portal, www.smeinfo.com.my, a one stop information centre for SMEs have been set up. The portal provides information such as financing and funds, governmental support programmes and advisory services. Included in the portal is a SME Business Adviser Network (SME-Net) which links experts from various agencies and financial institutions.

Through the HRD portal, www.hrdportal.com.my, SMEs are provided information on training programmes.Incentive schemes such as grants, soft loans and venture capital funding are channelled to SMEs through channels such as Bank Negara's SME Special Unit and SME Corp.