Boosting the Entrepreneurial Capabilities and Performance of MSMEs

This strategic thrust aims at elevating MSMEs through value adding as well as the diversification of process, products and services. The four strategies adopted are:

 

E1: Strengthen the implementation of vendor development programme

• Increase participation of new anchors from Government-linked companies (GLCs), MNCs, public-listed companies (PLCs), vendor champions and private companies
• Create multiple-tiers among Bumiputera vendor
• Expand key potential areas from high-growth industry sector, such as aerospace, automotive, rail, renewable energy, medical devices, biotechnology and halal industry 

 

E2: Enhance entrepreneurship skills and capabilities of MSMEs

• Provision of training and development programmes related to Industry 4.0, strategic management, certification, marketing and branding, packaging, product development and e-commerce
• Targeted support and facilitation for MSMEs to venture into new and high potential sectors
• Enhance capacity building programme that emphasise on competitive mindset and internationalisation strategy
• Provide financial literacy programme particularly for micro and small enterprises

 

E3: Provision of targeted support for market access especially for Bumiputera MSMEs

• Provide access to various e-commerce platforms for MSMEs to promote and market their products
• Intensify product access for MSMEs into wholesales and retail outlets
• Leverage on Government procurement to prioritise on local products and services
• Facilitate regulatory compliance, certification and accreditation for MSMEs
• Intensify promotion of local products and services at strategic locations and entry points

 

E4: Strengthen supply chain management

• Break down monopoly in certain industries through intervention programmes
• Improve logistics, physical and digital infrastructures of businesses through public-private partnership