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Several Initiatives Listed In MP10 To Create Domestic, Regional And Global SMEs Champions
KUALA LUMPUR, June 10 (Bernama) -- The government willreduce the regulatory cost borne by small-and-medium enterprises (SME), exemptthem from business regulation as well as create 2000 new businesses launched bystudents and graduates during the Tenth Malaysia Plan (10MP) in efforts tocreate domestic, regional and global SMEs champions.
The two critical issues SMEs faced were ease of startingand closing business, which the World Bank 2010 survey ranked Malaysia as 88thand 57th, respectively.
"Regulations will be eased for a company which hasfive people or fewer in areas such as registration of business and employmentrequirements, where the method is seen as a highly effective method ofstimulating entrepreneurship," says the Economic Planning Unit in thePrime Minister's Department in the 10MP (2011 to 2015) report released today.
Prime Minister Datuk Seri Najib Tun Razak tabled the 10MPin the Dewan Rakyat today.
On supporting the creation of an entrepreneurial culture,the report says the government will enhance the SME-University InternshipProgramme where university students with specific skills will be assigned to abusiness for a specific period.
"Entrepreneurship will also be promoted among youngMalaysians by sponsoring business plan competitions at schools and universitiesand the target is to see 2000 businesses launched by youths by the end of10MP," EPU says.
To support innovation, EPU says, a company called1-InnoCERT would be introduced to certify SMEs on the basis of innovation andcommerialisation achievement.
SMEs which receive 1-InnoCERT will receive benefits suchas tax deduction for research and development activities and priority ingovernment procurement.
By 2015, it is targeted that 500 SMEs will be I-InnoCERTcertified.
EPU also says SME Corp Malaysia will expand field officeswith business centres, to all states, to disseminate information on funding andincentives, provide counselling and coaching and act as a clearing house forall issues related to SMEs.
An online centralised trade information platform willalso be in place to increaseaccess to trade opportunities overseas.
EPU also says in enhancing access to financing for SMEs,the RM7 billion Working Capital Guarantee Scheme, which was created under thestimulus package in 2008 to assist companies during the economic slowdown, willbe reintroduced.
It adds that with the financial assistance, advisoryservices and training, at least 16,000 SMEs will be targeted to upgrade theirbusiness and improve their star rating under the SME Competitive Rating forEnhancement (SCORE) system during the 10MP period.
SME Corp Malaysia will have all the tracks and impacts ofthe programmes reported annually to the National SME Development Council (NSDC)chaired by the Prime Minister.-- BERNAMA
