Malaysian SMEs attribute growth in international trade to online tools

KUALA LUMPUR: The latest Future of Business Survey report by Facebook has revealed that Malaysian small and medium enterprises (SMEs) attributed their growth in international trade to online tools.

According to the report, 54 per cent of exporting SMEs revealed that more than 75 per cent of their international sales depended on online tools.

“Additionally, 65 per cent of exporters agreed that using online tools for international trade had increased their revenue.

“However, Malaysian SMEs doing business globally are less confident about their business outlook, as only 48 per cent felt positive about their current business state,” the report said.

The report also found that international trade was a challenge to the SMEs, revealing that only 17 per cent of them traded as such.

It said 29 per cent of businesses reported that poor online payment alternatives made it difficult to conduct online business transactions across borders.

The report further stated that access to online tools encouraged growth in trade by allowing businesses to streamline their processes, provide access to new markets and customers, and made it easier to deal with authorities.

The report was developed in collaboration with the Organisation for Economic Co-operation and Development and the World Bank to deliver timely insights and trends on online SMEs.

It was based on an ongoing online survey of more than 60 million SMEs with an active Facebook business page from 42 countries, and included both new and longstanding businesses, spanning a variety of sectors. — Bernama