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

In his opening remarks at the World Marketing Summit Malaysia 2026, Deputy Prime Minister Datuk Seri Fadillah Yusof expressed openness to a more robust support framework for growth-stage small and medium enterprises (SMEs). Fadillah acknowledged the business community’s proposal for such structured support, indicating that it would merit further consideration through constructive engagement with relevant ministries, agencies, and industry stakeholders.

He emphasized the need to assess any proposed approach carefully, bearing in mind existing initiatives and the practical needs of businesses. Fadillah stressed the importance of helping businesses sustain their growth after achieving initial success, particularly when securing major contracts or entering international markets. These opportunities may necessitate additional employees, enhanced management capabilities, equipment investments, and further financing, as they can also test a business's ability to maintain growth.

He urged policymakers to listen to entrepreneurs, highlighting that their firsthand experience in building businesses and overcoming challenges can help identify where support would be most beneficial. Regarding artificial intelligence (AI), Fadillah argued that technology adoption should be driven by its capacity to solve problems and serve people better, rather than simply because it is available.

Meaningful innovation for small businesses may not necessitate the most advanced technology but could involve streamlining repetitive administrative tasks to allow employees to focus more on customers.

While AI could aid businesses in analyzing information and making recommendations, Fadillah stressed that it did not absolve enterprises of the responsibility to exercise sound judgement, uphold integrity, and consider the consequences of their decisions affecting people's lives. He underscored the importance of ensuring that smaller enterprises, workers, and communities have meaningful opportunities to participate in and benefit from technological progress.