About SME Corp. Malaysia
SME Corporation Malaysia (SME Corp. Malaysia) is the central coordinating agency (CCA) under the Ministry of Entrepreneur Development Malaysia (MED) that coordinates the implementation of development programmes for small and medium enterprises (SMEs) across all related Ministries and agencies. It acts as the central point of reference for research and data dissemination on SMEs and entrepreneurs, as well as provides business advisory services for SMEs and entrepreneurs throughout the country. SME Corp. Malaysia also assumes the role of the Secretariat to the National Entrepreneur SME Development Council (NESDC), 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 industries (SMIs) by providing infrastructure support, financial assistance, advisory services, market access and various other support programmes. Known as the Small and Medium Industries Development Corporation (SMIDEC), its aim was to develop capable and resilient Malaysian SMIs to be competitive in the global market.
In 2004, the National SME Development Council (NSDC) was established to ensure the comprehensive and coordinated development of small and medium enterprises (SMEs) in Malaysia. As the highest policy-making body for the overall development of SMEs, 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 the country. Initiatives under the NSDC included 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 decided to appoint a single dedicated agency to formulate the overall policies and strategies for SMEs and to coordinate programmes across all related Ministries and agencies. SMIDEC was tasked to assume that role and it was officially rebranded to SME Corporation Malaysia (SME Corp. Malaysia) on 2 October 2009. Meanwhile, with greater emphasis now placed on entrepreneurship development, the NSDC was rebranded to the National Entrepreneur and SME Development Council (NESDC) on 8 April 2019.
SME Corp. Malaysia was gazetted as an agency under the Ministry of Entrepreneur Development Malaysia (MED) in November 2018. Today, SME Corp. Malaysia is poised to realising its vision of being 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 and entrepreneur development.
SME Corp. Malaysia functions as the central point of reference for information and advisory services for SMEs nationwide. SME Corp. Malaysia provides business advisory services and information to SMEs and entrepreneurs through SME Hub which is located at the Head Office in Kuala Lumpur, and 12 State Offices throughout the country. SME Hub also acts as the Ministry of Entrepreneur Development Malaysia’s Entrepreneurship One-Stop Centre (OSC-MED), which houses various agencies under MED; including SME Bank, TEKUN Nasional, Bank Rakyat, National Institute of Entrepreneurship (INSKEN), UDA Holdings, Cooperative College of Malaysia (CCM) and Malaysia Co-operative Societies Commission (SKM), as well as other agencies; such as Intellectual Property Corporation of Malaysia (MyIPO) and Royal Malaysian Customs Department (RMCD) that provide advisory services and facilitation to SMEs and entrepreneurs.
On top of that, 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 (CCA) for the overall SME development in Malaysia, SME Corp. Malaysia coordinates, streamlines, monitors and evaluates the progress and effectiveness of SME development programmes implemented by 17 Ministries and more than 60 agencies. The information collected from the relevant Ministries and agencies is reported annually under the SME Integrated Plan of Action (SMEIPA).