MSMEs can weather economic upheaval by adopting e-commerce

KUALA LUMPUR: The Covid-19 pandemic is not the first nor will it be the last major disruption to business but by adopting e-commerce, micro small and medium enterprises (MSMEs) and local entrepreneurs can better weather any economic upheaval and come out unscathed.

Malaysia Digital Economy Corporation (MDEC) director of ecommerce Song Hock Koon said as the country looked towards recovery from the pandemic, MSMEs need to learn how to adapt in the challenging times in order to not only survive but also thrive in 2020 and beyond.

“Adoption may have been the first step, but the time has come for local MSMEs to realise the full potential that e-commerce has to offer.

“The immediate benefit of embracing the online channel is an increase in reach. Retailers can access customers anywhere in the world instead of just relying on a network of physical stores,” he said in a statement yesterday.

Song said following the incredible success of Amazon in the United States, marketplaces all over the world have seen an explosion over the last decade, and similarly players like Lazada and Shopee in Southeast Asia were opening doors to consumers worldwide.

While paving the way for local MSMEs towards economic recovery through the shortterm National Economic Recovery Plan’s (Penjana) ecommerce initiatives, MDEC remains steadfast in increasing local MSMEs’ e-commerce adoption, widen their market reach domestically and enable them to tap into the export market effortlessly, he noted. — Bernama