SME Corporation Malaysia (SME Corp. Malaysia) is a Central Coordinating Agency under the Ministry of International Trade and Industry Malaysia that formulates overall policies and strategies for Small and Medium Enterprises (SMEs) and coordinates the implementation of SME development programmes across all related Ministries and Agencies. It acts as the central point of reference for research and data dissemination on SMEs, as well as, provides advisory services for SMEs in Malaysia. SME Corp. Malaysia also assumes the role of the Secretariat to the National SME Development Council (NSDC), which is chaired by the Prime Minister of Malaysia.
The genesis of SME Corp. Malaysia dates back to 2 May 1996, when a specialised agency was established under the Ministry of International Trade and Industry (MITI) to spur the development of Small and Medium Enterprises (SMEs) by providing infrastructure facilities, financial assistance, advisory services, market access and other support programmes. Known as the Small and Medium Industries Development Corporation (SMIDEC), its aim was to develop capable and resilient Malaysian SMEs to be competitive in the global market.
The establishment of the National SME Development Council (NSDC) in 2004 was the beginning of another chapter in SME development in Malaysia. As the highest policy-making body, its role was to formulate strategies for SME development across all economic sectors; coordinate SME programmes implemented by related Ministries and Agencies; encourage partnership with the private sector; and ensure effective implementation of the overall SME development programmes in this country. Initiatives under the NSDC include enhancing access to financing; financial restructuring; advisory services, information, training and marketing coordination; and a comprehensive SME database to monitor the progress of SMEs across all economic sectors.
In 2007, the NSDC had appointed a single dedicated agency to formulate overall policies and strategies for SMEs and to coordinate programmes across all related Ministries and Agencies. SMIDEC was tasked to assume the roles and was officially rebranded to Small and Medium Enterprise Corporation Malaysia (SME Corporation Malaysia) on 2 October 2009. SME Corp. Malaysia is now the central point of reference for information and advisory services for all SMEs in Malaysia.
Today, SME Corp. Malaysia is the nation’s premier organisation for the development of progressive SMEs to enhance wealth creation and social well-being of the nation. In fulfilling its mission of promoting the development of innovative, resilient and globally competitive SMEs through effective coordination and provision of business support, SME Corp. Malaysia endeavours to empower the critical mass of SMEs with efficient processes, robust business models, access to financial resources, smart partnerships, market-entry strategies and sustainable growth solutions, through various platforms and programmes for SME development.
SME Corp. Malaysia provides business advisory services and information to SMEs in Malaysia through its One Referral Centre (ORC) and its 11 State Offices nationwide. SME Corp. Malaysia also implements various programmes and initiatives under its own auspices including its annual flagship programmes such as the SME Annual Showcase (SMIDEX), Enterprise 50 (E50) Award and SME Week.
As the Central Coordinating Agency for the overall SME development in Malaysia since 2009, SME Corp. Malaysia coordinates, streamlines, monitors and evaluates the progress and effectiveness of SME development programmes implemented by 15 Ministries and 65 Agencies. The information collected from the relevant Ministries and Agencies is published as an annual report called the SME Integrated Plan of Action (SMEIPA). This report was first introduced as the SME Development Blueprint (2006-2008) prior to SME Corp. Malaysia’s appointment as a Central Coordinating Agency.
SME Corp. Malaysia is the agency driving the implementation of the SME Masterplan (2012-2020) that charts the policy direction of SME development until the year 2020. The Masterplan aims to accelerate the growth of SMEs via innovation-driven and productivity-led strategies for Malaysia to achieve a high-income nation status by 2020.
SME Corp. Malaysia forges close partnerships with industry associations and strategic partners from both the public and private sectors to foster and strengthen sector and industry-specific cooperation and collaboration to further support and promote the development of SMEs in Malaysia.