STATISTIC ON MALAYSIA’S SMALL AND MEDIUM ENTERPRISE (SMEs)

Small and medium enterprises (SMEs) in Malaysia cover a wide range of sector including services, manufacturing, agriculture, construction as well as mining and quarrying. From all of these sectors, businesses are divided into three categories namely micro, small and medium. 

SMEs are undoubtedly important to the growth of Malaysia’s economy. Since SMEs are divided into three different categories, let us take a look at some of the statistic based on their respective sector and state. Based on SMEinfo.com:

1. The tabulation of SMEs by percentage is as follow: 76.5% are microenterprises, 21.2% are small enterprises and 2.3% are medium enterprises.
2. The tabulation of SMEs by sector is as follow: 89.2% are service, 5.3% are manufacturing, 4.3% are construction, 1.1% are agriculture and the remaining 0.1% are mining and quarrying.
3. 20.6% of SMEs are woman-owned.
4. The 3 states with the highest number of SMEs establishment are Selangor (19.8%), Wilayah Persekutuan Kuala Lumpur (14.7%) and Johor (10.8%).

In addition to that, here is another statistic worth noting that was shared by CompareHero.my:

Other than these promising statistics, there is another initiative that is notable with regard to the growth of SMEs which is the National Entrepreneurship Policy 2030. It was officially announced by the previous Prime Minister, Tun Dr. Mahathir on 11 July 2019 where it is aimed to chart the direction towards creating a conductive and integrated entrepreneurial ecosystem.

If we take a look at the fifth core elements listed in the infographic above (Courtesy of Bernama Infographic), it specifically address the boosting of performance for all micro, small and medium enterprise. This is a great benefit as to ensure that all entrepreneurs including those from SMEs can continuously grow and be able to contribute more to Malaysia’s economy.

REFERENCE

https://www.comparehero.my/sme/articles/sme-landscape-malaysia

https://www.smeinfo.com.my/profile-of-smes

https://www.bnm.gov.my/documents/fi/publication/reports/Developing%20the%20SME%20Financing%20Ecosystem.pdf