Govt open to stronger support framework for SMEs moving beyond initial growth, says Fadillah

KUALA LUMPUR, Nov 5 — Deputy Prime Minister Datuk Seri Fadillah Yusof expressed support for the business community's proposal for a more structured support system for growth-stage small and medium enterprises (SMEs). Fadillah acknowledged that any proposed approach must be carefully evaluated on its merits, considering existing initiatives and the practical needs of businesses.

He emphasized the importance of assisting companies in sustaining their growth beyond initial success, as securing major contracts or entering international markets may require additional resources and management capabilities. Fadillah stressed the need to listen to entrepreneurs, as their experience could guide policymakers in identifying areas where support would be most beneficial.

Regarding artificial intelligence (AI), Fadillah advocated for technology adoption that addresses genuine problems and improves people's lives, rather than simply following trends. He highlighted that meaningful innovation for small businesses may involve streamlining administrative tasks, allowing employees to focus more on customers.

However, Fadillah cautioned that technology should not replace sound judgment, integrity, and consideration for the broader societal impact of decisions.