Perdasama: Be specialised in business to remain profitable

KUALA LUMPUR: Malaysian Malay Businessmen and Industrialists Association of Malaysia (Perdasama) is advising local small and medium enterprises (SMEs) to specialise in their business to remain profitable.

President, Moehamad Izat Emir said when SMEs are specialised in their respective industries they would be recognised by customers and competitors.

“For example, when you are in the textiles business, focus on the industry and give the best products and services to the customers and of course at affordable prices... by doing this, you will surely be among the brand that customers remember,” he told Bernama.

He also said franchising was one solution for local companies, especially Bumiputeras to expand their businesses.

But, for this, Moehamad Izat said they would need to be financially strong.

To overcome this, he advised SMEs to be aware of initiatives and programmes organised by the government and its agencies including the Ministry of International Trade and Industry, Malaysia External Trade Development Corporation and SME Corporation.

“Since Malaysia is entering the digital economy platform, more SMEs should see this as another channel to expand their business not only locally but globally.

“However, they should be aware that not all kinds of business can be promoted via this platform and not everybody is Internet savvy and have similar Internet access,”he added.

Moehamad Izat said that at Perdasama, almost all members operate their business via both platform, offline and online.

The contribution of the digital economy to Malaysia’s Gross Domestic Product, at about 17 per cent currently, is expected to exceed the projected target of 20 per cent earlier than 2020.

The target is achievable as Malaysia has started making waves in the digital economy arena with the launch of the Digital Free Trade Zone or DFTZ on March 22 and the Malaysia Digital Hub.

Recently, Perdasama held a board meeting, among others, to discuss ways to improve businesses opportunities for Bumiputera entrepreneurs.

Board member, Tan Sri Megat Najmuddin, said even at the university level, students should be taught entrepreneurial skills.

“Online business has caught up now and Malay students should enrich themselves with information technology ( IT) knowledge so as to be IT savvy and successful as entrepreneurs one day”, he said. — Bernama