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Rakyat Post
6 days ago
- Business
- Rakyat Post
MSMEs Continues To Drive National Economic Growth, Contributing RM652.4 Billion In 2024
Subscribe to our FREE Micro, Small and Medium Enterprises (MSMEs) further reinforced their position as the key player in the Malaysia's economy by contributing RM652.4 billion in 2024. Official statistics from the Department of Statistics, Malaysia (DOSM) showed that MSMEs expanded by 5.8% in 2024, continued to outperform both the national GDP which grew by 5.1% and Non-MSMEs at 4.7%. This remarkable performance, in line with Malaysia's overall economic growth trajectory was largely fuelled by the construction sector which registered a double digit growth of 17.3% (2023: 5.8%). This marks the most robust growth recorded by MSMEs in the construction sector over the past decade, supported primarily by the special trades subsector, which in turn provided additional boost to the overall performance of MSMEs. As a result, MSME contribution to the national GDP increased to 39.5% in 2024, compared to 39.3% in the previous year. The encouraging performance was not only evident domestically but also reflected in MSMEs' increasing integration in the global value chains. MSME exports surged significantly by 31.3% or almost RM50 billion to reach RM196.8 billion. This highlighted a remarkable expansion compared to the 3% growth recorded in 2023 at a value of RM149.9 billion. Moreover, MSME exports grew at a faster pace than that of Non MSMEs or large firms, which grew around 7.2%. Following this extraordinary performance, the share of MSMEs to Malaysia's total exports rose substantially to 14.3% in 2024 (2023: 12%). The surge in exports momentum was anchored by the services sector which increased more than doubled its exports value, from RM33.2 billion to RM71.3 billion in 2024, primarily supported by tourism-related industries. Malaysia received a total of 38 million foreign tourists in 2024, an increase of 31.1% (2023: 29 million tourists). This positive development in the tourism industry had a substantial spillover effect on MSME exports, given that more than half of MSMEs (or 55.6%) are actively involved in tourism-related activities. The 30-day visa exemption for tourists from China and India also contributed to the boost in tourist arrivals. Zooming in to the employment aspect, MSMEs employed a total of 8.1 million workers, an increase of 3.1% or nearly 250,000 additional workforce. Thus, MSME contribution to total employment rose to 48.7% in 2024 (2023: 48.5%). Meanwhile, MSME labour productivity was at RM80,507 per worker, improved from RM78,475 registered in 2023. In anticipation of this year's economic situation, various factors and challenges are expected to impact MSME performance. These include the tariff imposition by the United States as well as the scope expansion of the Sales and Services Tax (SST). According to the Minister of Entrepreneur and Cooperatives Development, YB Datuk Ewon Benedick, the current landscape presents an opportunity for MSMEs to turn challenges into strategic business growth by reassessing the firms' supply chain structure, adopting ESG practices and enhancing digitalisation. 'Ministry of Entrepreneur and Cooperatives Development (KUSKOP) together with its agencies especially SME Corp. Malaysia are committed to developing MSMEs through implementation of targeted interventions. Scaling up of MSMEs will be the key agenda to drive growth and build firms with greater resilience against future shocks. I am positive that the good performance of MSMEs will help to achieve our target of increasing the medium-sized enterprises from 1.6% currently to 5% by 2030.' 'The robust performance in export signifies MSMEs' strengthening position in the global marketplace. Since 2022 under the SME Export Enhancement Programme, SME Corp. Malaysia has been promoting Malaysian SMEs abroad and supporting them through capacity building and financial assistance via the appointed market linkers. Under the RMK13, SME Corp. Malaysia aims to further enhance MSMEs' export through specific initiatives targeted to boost high impact sectors, internationalisation and sustainability of MSMEs. In fact, in conjunction with Malaysia's ASEAN Chairmanship this year, SME Corp. Malaysia is organising the SME Venture@ASEAN 2025 from 16 to 18 October 2025 that offers great opportunity for MSMEs to penetrate the export market particularly within the ASEAN region,' added YB Datuk Ewon Benedick. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Daily Express
30-06-2025
- Business
- Daily Express
Alliance Bank BizSmart® Challenge Launches 'The Ultimate Elevator Pitch – Malaysia's First Feature-Length SME Business Pitch Film'
Published on: Monday, June 30, 2025 Published on: Mon, Jun 30, 2025 Text Size: From Left to Right: Kelly Kam (Group Chief Executive Officer of Alliance Bank Malaysia Berhad), Natalie Tan (Partner 5X Capital), and Bikesh Lakhmichand (CEO & Founding Partner, 1337 Ventures) KUALA LUMPUR: In a unique and landmark convergence of business, storytelling, and digital streaming, Alliance Bank Malaysia Berhad today launched The Ultimate Elevator Pitch — Malaysia's first feature-length SME business pitch film focused on SME entrepreneurship in conjunction with World MSME (Micro, Small, and Medium Enterprises) Day. The movie premiers exclusively on iQIYI, one of Asia's leading OTT platforms. Alliance Bank also announced the return of the BizSmart® Business Conference (ABBBC) — the Bank's annual flagship event under the BizSmart® ecosystem, now in its second year. The documentary-style movie offers unprecedented, behind-the-scenes access to the Accelerator Edition of the BizSmart® Challenge — Alliance Bank's flagship SME development programme which celebrated 10 years in 2024. Viewers will experience the raw emotions, high-stakes pitches, intense questioning and pivotal breakthroughs that capture the real-life drama of building a business in today's fast-paced, volatile environment. Launched in 2013, the BizSmart® Challenge was created to empower local entrepreneurs with access to funding, mentorship, and market exposure. In 2024, the Challenge introduced the 60-second Elevator Pitch as a new and dynamic addition, reinforcing its reputation as a trailblazing platform within Malaysia's SME ecosystem. Furthermore, strengthening its credentials as the pioneering partner of SMEs, Alliance Bank became the first bank to go beyond offering loans to SMEs and offer venture capital through 1337 Ventures and 5X Capital, as well as cash prizes through Cradle MYStartup and Credit Guarantee Corporation Malaysia Berhad (CGC). 'For over a decade, we've supported entrepreneurs beyond financial services,' said Kellee Kam, Group Chief Executive Officer of Alliance Bank. 'This movie is Malaysia's first feature-length SME business pitch film that invites the public to witness the grit, vulnerability, and determination behind Malaysia's SME founders. It's a portrait of resilience and ambition — and a celebration of the changemakers building our future.' The 2024 Alliance BizSmart® Challenge awarded RM550,000 in cash prizes to 13 outstanding winners. Among them, BioLoop, Gula Cakery, and HiiVolt emerged as the top three, standing out for their innovation, business acumen, and growth potential. 'These winners reflect the creativity, perseverance, and ambition that define Malaysia's SME sector,' shared Kellee Kam. 'We've gone beyond just providing bank funds — together with our esteemed partners CGC, Cradle's MYStartup , 1337 Ventures , and 5X Capital, we now offer a range of financial solutions from loans to venture funding. We'll continue to support SMEs with funding, mentoring, and visibility. As The Bank For Life, our mission is to empower entrepreneurs to make a lasting impact across industries and communities. We're proud to remain pioneers in this space — just as we were a decade ago when we launched the BizSmart® Challenge.' The idea for The Ultimate Elevator Pitch was sparked by a single insight: entrepreneurship isn't just strategy — it's deeply emotional. It's best understood through the lived experience of founders. With audiences increasingly drawn to authentic, documentary-style content, the Bank saw an opportunity to bring these stories to life in a way that's both exciting and real, to inspire the next cohort of Malaysian entrepreneurs. Partnering with multi-awarded local agency Ampersand Advisory, the film blends cinematic storytelling with entrepreneurial depth — capturing moments that rarely make the headlines but define the heart of business building. 'We see entrepreneurs as heroes, and that's how we approached this movie. Our client was open-minded and the idea of a movie came in a large part from them. The audience gets a rare front-row seat to some of the struggles and high points that define a founder's journey,' said Sandeep Joseph, Co-Founder and CEO of Ampersand Advisory, who also directed the film. 'You'll see the unguarded moments, the investor debates, and the mentorship that shapes growth. It's raw, relatable, and relevant. These are the stories of Malaysia's future business leaders, told without filter.' Filmed during the intensive BizSmart® Challenge journey, the film offers never-before-seen access to mentorship sessions, last-minute pitch prep, emotional highs and lows — and the real stakes faced by entrepreneurs chasing funding and recognition, while managing personal pressures and daily business challenges. 'This is more than a celebration of success. It's a visual archive and story of what it takes to build a business in today's Malaysia', added Sandeep. 'We're delighted that a local home-grown bank wanted to make a heartwarming film about local entrepreneurs, and picked a local agency like ours to do so. As an entrepreneur I can resonate with the journey of these courageous and diverse founders.' Streaming Where Malaysians Watch: The iQIYI Partnership In keeping with today's digital-first habits, iQIYI and Alliance Bank proudly partnered to host Malaysia's first-ever film centred around a business pitch programme — a bold, original concept that celebrates the ambition, innovation, and resilience of local entrepreneurs. The documentary reinforces both brands' commitment to supporting homegrown talent and inspiring content. Watch it exclusively on iQIYI from 18 July 2025, making it accessible to entrepreneurs, students, and aspiring founders across Malaysia, anytime and anywhere. 'This is the first time a bank-led SME initiative has been transformed into a cinematic experience that balances heart and ambition, It proves entrepreneurship isn't reserved for boardrooms — it highlights the highs, lows and spirit of local founders who are taking bold steps to shape their future to make it more meaningful," said Evangeline Song, Head of Brand Partnerships, APAC & Middle East at iQIYI. 'We're excited to bring such authentic, homegrown stories to a wider audience through this collaboration.' Celebrating 10 Years of the BizSmart® Challenge 2024 also marked a milestone 10th anniversary for the BizSmart® Challenge, with the introduction of the Accelerator Edition. This 2024 edition attracted a record-breaking 593 submissions — the highest since the programme began in 2013 — reflecting the vibrancy and competitiveness of Malaysia's SME landscape. The finalists went through months of the programme , including a 4-day Accelerator Programme, business coaching, a 5-minute business pitch, 60-second Elevator Pitch, and the final 3-minute pitch to a panel of industry leaders. The programme ensured each entrepreneur received valuable exposure, insights, and support. In a first, every finalist from last year walked away with a prize — reinforcing Alliance Bank's commitment to inclusive growth and support for the entrepreneurial ecosystem. A Prelude to the 2025 BizSmart® Business Conference (ABBBC) Taking place on 7 October 2025 at W Kuala Lumpur, this year's BizSmart® Business Conference (ABBBC) conference is themed 'Boundaries Reimagined' and will feature over 35 speakers, including high- growth founders, visionary investors, and BizSmart® alumni who've scaled their businesses across sectors and regions. This year's line-up includes industry leaders such as CEO of Colony Timothy Tiah, Founder of A Cut Above Winnie Loo, HYGR Co-founders Ivor and Meng, Kee Nguyễn Vietnam Coffee Co-founder and director Radius Khor and , past BizSmart® Challenge winners finalists BioLoop CEO Mah Jun Kit, Gula Cakery founder Nor Arieni and HiiVolt Founder Dr. Jay . The agenda will cover real-world topics such as cross-border business expansion, digital disruption, brand- building under pressure, business model evolution, and how SMEs can thrive through change. Participants can also look forward to curated networking, business-matching opportunities, and access to industry-shaping insights. To mark World MSME Day, a special early bird ticket price of RM88 is available until 3 July 2025 — underscoring the Bank's commitment to making high-impact knowledge and access more inclusive for entrepreneurs at every stage. For more information about the Alliance Bank BizSmart® Challenge visit To watch The Ultimate Elevator Pitch movie, visit [insert the link for iQIYI} which goes live on 18 July 2025. Tickets information and other insights to the BizSmart® Business Conference (ABBBC) 2025, visit * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Wire
30-06-2025
- Business
- The Wire
Alibaba.com Launches Trade Assurance in India to Empower SMEs
NEW DELHI, June 30, 2025 /PRNewswire/ -- a leading global business-to-business (B2B) e-commerce platform, today announces the launch of its Trade Assurance service in India, marking a significant step in enhancing the trading experience for Indian small and medium-sized enterprises (SMEs). This service empowers them to manage international transactions with greater confidence, efficiency and security. Coinciding with World Micro, Small, and Medium Enterprises (MSME) Day on June 27th, this initiative highlights the commitment of to supporting global SMEs. Global B2B trade can be fraught with challenges, including concerns over costs, product quality, shipment timelines, and more. Trade Assurance, a proprietary order protection service offered by alleviates some of these risks, providing both suppliers and buyers with confidence throughout the entire transaction process. Suppliers who opt for this service can conduct business with peace of mind, knowing that their transactions are securely safeguarded by a trusted platform. The service stipulates that the buyer makes payment at the time of purchase, with the funds held in escrow by until the buyer confirms the satisfactory receipt of the order within a reasonable timeframe. Participating suppliers stand to gain a significant advantage as Trade Assurance not only enhances buyers' trust in them but also allows them to amass a robust online transaction history, thereby improving their visibility, ranking and exposure on This, in turn, translates to a wealth of future business opportunities for the suppliers. "India is one of high-potential supplier markets, with a robust production capacity and a diverse range of product categories that attract substantial global buyer interest. In recognition of this potential, we have introduced the Trade Assurance service to the Indian market. This service aims to foster trust between Indian suppliers and global buyers, while also streamlining transaction processes. By doing so, we aim to enhance efficiency and unlock new business opportunities for Indian suppliers, thereby contributing to their growth and success," said Rocky Lu, Head of India at Summer Gao, Head of Global Supply Chain Services at , shared, "We are thrilled to bring Trade Assurance to India. Transactions conducted with the Trade Assurance service enable Indian SMEs to build a robust online transaction history, bolster their credit ratings, and enhance their reputation with global buyers. We firmly believe that the comprehensive order protection it offers can reduce trade barriers for SMEs, opening pathways for them to flourish in the global marketplace." About Launched in 1999, is a leading platform for global business-to-business (B2B) e-commerce that serves buyers and suppliers from over 200 countries and regions around the world. It is engaged in services covering all aspects of commerce, including providing businesses with tools that help them reach a global audience for their products and helping buyers discover products, find suppliers and place orders online fast and efficiently. is part of Alibaba International Digital Commerce Group. Logo -
The Star
28-06-2025
- Business
- The Star
Myanmar marks MSME Day with focus on digitalisation
YANGON (Xinhua): Myanmar commemorated Micro, Small, and Medium Enterprises (MSME) Day with a formal ceremony in the capital Nay Pyi Taw on Friday, state media daily The Mirror reported Saturday. Speaking at the event, Deputy Prime Minister and Union Minister for Planning and Finance U Win Shein said that MSMEs are the backbone of the global economy and play a vital role in poverty reduction and achieving long-term sustainable development, the report said. He said that over 90 percent of businesses are under the MSME category, generating between 60 percent and 70 percent of employment opportunities, it said. He also highlighted the necessity for MSMEs to embrace digital systems to survive and thrive in today's rapidly evolving economic landscape, saying that digitalisation enhances operational efficiency, expands access to domestic and international markets, improves customer service, and boosts competitiveness, the report said. Afterward, attendees viewed a video presentation and toured an MSME product exhibition featuring goods from Nay Pyi Taw Union Territory at the event, the report said. Senior government officials, including ministers and deputy ministers of related ministries, attended the event. - Xinhua
Business Recorder
28-06-2025
- Business
- Business Recorder
Alibaba.com launches ‘CoCreate Pitch'
KARACHI: a leading B2B e-commerce platform, has announced the newly expanded pitch competition, 'CoCreate Pitch', which will take place at the Company's annual flagship CoCreate event. The competition will allow global SMEs with product dreams to compete for a $1 million prize pool. Selected SMEs and entrepreneurs from Pakistan will have the opportunity to participate in the US event held in Las Vegas from September 4-5, 2025. In addition to the 'CoCreate Pitch' competition, is also introducing CoCreate Europe, which will be held in London on November 14, 2025. Coinciding with World Micro, Small, and Medium Enterprises (MSME) Day on June 27th, this initiative highlights the commitment of to supporting global SMEs. SMEs are actively positioning themselves for new opportunities. During the mid-year stock season, has observed significant momentum in Pakistan, with the number of Pakistani exporters on the platform increasing by 30% year-over-year from April to June. Copyright Business Recorder, 2025
