According to media reports, the Minister highlighted several key initiatives introduced by the Ministry to support SMEs and entrepreneurs. Among them is a RM130 million low-interest financing scheme specifically for Malaysian Chinese entrepreneurs, the first initiative of its kind, with RM90 million already approved within just two months.
In addition, within the first three months of his tenure, the Ministry announced a total financing package of RM4 billion, of which RM2 billion has already been channelled to local businesses. The Ministry also launched the “PowerUp10k” programme, aimed at mobilising up to RM15 billion into the market to support at least 10,000 Malaysian enterprises in enhancing competitiveness, scaling operations, and seizing global opportunities.
The Association said these initiatives reflect a more practical and responsive approach to policymaking, especially as SMEs continue to face rising operating costs, manpower shortages, increasing compliance burdens, and a demanding business environment.
It emphasised that new policies and regulatory measures must take into account the operational realities faced by businesses, particularly smaller enterprises with limited resources. In this regard, the Minister’s response was seen as a meaningful step forward, demonstrating that SME concerns are being heard.
The Association also noted that effective implementation is just as important as policy intent, cautioning that even well-intentioned measures could create additional pressure if introduced without sufficient consultation or preparation. Policies affecting SMEs, it said, must remain practical, proportionate, and implementable.
Describing the development as a positive example of engagement between the Government and industry stakeholders, the Association said it sends an encouraging signal that constructive feedback can lead to solutions that support both policy objectives and business sustainability.
“The Minister’s willingness to listen to industry feedback and respond to the issues raised demonstrates an understanding of the challenges faced by businesses and an attentiveness to practical concerns on the ground. We hope that such engagement and dialogue will continue, and that more effective and business-friendly measures will be progressively introduced to help ease business pressures and strengthen competitiveness,” said Dr Chin Chee Seong, National President of the Association.
“At the same time, the SME community hopes that the Minister will continue to closely monitor the increasingly challenging conditions faced by businesses, particularly in the context of rising operating costs, weakening demand, productivity challenges, and intensifying competition,” he added.
The Association also highlighted external risks, noting that the ongoing conflict in the Middle East continues to introduce uncertainty into the global economy. This could drive up energy, logistics, and raw material costs, intensifying inflationary pressures and potentially weakening business margins, consumer confidence, and investor sentiment.
In light of these challenges, it stressed that SMEs require not only immediate policy responsiveness but also forward-looking support to strengthen resilience and competitiveness.
The Association further recommended more targeted programmes to support digital transformation, productivity improvement, and the adoption of technology and innovation. It also called for greater support in helping SMEs expand internationally through export readiness, market access, business matching, and cross-border capability development.
It added that closer collaboration between the Government and industry bodies would help ensure that support programmes are more targeted and effective in reaching businesses that need them most. The SME Association reaffirmed its commitment to working closely with the Ministry of Entrepreneur and Cooperatives Development and relevant agencies to ensure that SME voices continue to be represented and that policies are developed with practical consideration and a clear understanding of business realities.
