SME Corp wants 50 pct SMEs to do online biz by 2020

KUALA LUMPUR: SME Corp Malaysia hopes to see 50 per cent of small and medium enterprises (SMEs) in Malaysia to conduct their business online by 2020.

Chief executive officer Datuk Hafsah Hashim said the landscape, going forward, was for companies to embrace the digital age and e-commerce platform to enhance their branding.

Speaking to reporters after the launch of the Enterprise 50 (E50) awards here yesterday, she said about 32 per cent of SMEs were now engaged in e- commerce trading.

She said local companies should take advantage of the opportunity accorded by the Digital Free Trade Zone, as it can potentially increase sales, garner international recognition and boost global competitiveness.

SME Corp has partnered 11street and Lazada to train and coach local companies to prepare them for the digital journey.

Meanwhile, Hafsah said SME Corp was expecting at least 500 companies to be export-ready by November.

A total of 166 SME development programmes were implemented by 16 ministries and more than 65 agencies to help SMEs acquire financial assistance, market access and technology for this year, she said.

As for the E50 award, SME Corp was aiming to receive more than 2,000 nominations this year against last year’s 1,927 nominations.

Among the 664 nominations received, thus far, 50 companies were listed on the Main Market and 10 on the Ace Market of Bursa Malaysia.

Nomination began yesterday and will close on June 16, 2017 with the results to be announced in November. — Bernama