Monday, August 8

Tag: SME

Obstacles beset SMEs on the road to business sustainability
Business

Obstacles beset SMEs on the road to business sustainability

PETALING JAYA: Small and medium enterprises (SMEs), the bedrock of entrepreneurship in Malaysia, still have some way to go to ensure their own sustainability. This weakness has never been so evident until Covid-19 swept across the globe from 2020. Since the pandemic began, more than 150,000 SMEs in Malaysia have shut down, leaving 1.2 million people jobless. Experts say the lack of business sustainability has made them more vulnerable to uncertainties, a situation that could have been prevented had they made it a priority to adopt their own set of sustainability goals in their operations and management practices. This failure has proven costly to the overall business climate in Malaysia, according to Sunway University’s Koh Hock Lye. He pointed out that SMEs are pivotal to t...