MALAYSIA needs to strengthen support for small and medium enterprises (SMEs) at the growth stage, particularly in financing, workforce development and management capabilities, to help them scale up and compete internationally, Deputy Prime Minister II Datuk Seri Fadillah Yusof said.
He said businesses often faced a new set of challenges after securing major contracts or entering overseas markets, including the need to recruit more workers, upgrade equipment, strengthen management and obtain additional financing.
Fadillah said a more structured approach to supporting growth-stage SMEs merited consideration through engagement with relevant ministries, government agencies and industry stakeholders.
"Naturally, any proposed approach must be carefully assessed on its merits, taking into account existing initiatives and the practical needs of our businesses.
"Equally important is that we listen to the entrepreneurs themselves. Those who have built businesses, navigated uncertainty and overcome challenges often understand better than anyone — where meaningful support can make the greatest difference," he said.
Speaking at the World Marketing Summit Malaysia 2026 at the Kuala Lumpur Convention Centre today, he stressed that entrepreneurship should not focus solely on establishing businesses but also on building their capacity and resilience to sustain expansion.
He said successful SME growth could generate wider economic benefits through job creation, greater income opportunities for local suppliers and more meaningful careers within communities.
Fadillah also highlighted the need for businesses to embrace digitalisation and artificial intelligence (AI), while ensuring technology adoption improved productivity and customer service.
He cautioned that AI could assist in analysing information and making recommendations but could not replace human judgement, integrity and accountability.
He said the government and private sector must work together to strengthen infrastructure, investment, education and talent development to improve the competitiveness of Malaysian enterprises. - November 5, 2026
