Growth-stage SMEs need stronger financing, talent and management support to scale up – Fadillah

Malaysia's Deputy Prime Minister II, Fadillah Yusof, has emphasized the need for stronger support for small and medium enterprises (SMEs) that are at the growth stage. These businesses, which have secured significant contracts or expanded into international markets, often face new challenges that require additional resources. These include recruiting more workers, upgrading equipment, enhancing management capabilities, and obtaining further financing.

Fadillah stressed the importance of adopting a more structured approach to assist these growth-stage SMEs, involving collaboration with relevant ministries, government agencies, and industry stakeholders. However, any proposed approach must be thoroughly evaluated, considering existing initiatives and the practical needs of these businesses.

Fadillah also highlighted the importance of listening to entrepreneurs themselves, as those with firsthand experience in building and navigating businesses understand best where support can have the most significant impact. Speaking at the World Marketing Summit Malaysia 2026, Fadillah stressed that entrepreneurship should not only focus on establishing businesses but also on building their capacity and resilience to sustain expansion.

He pointed out that successful SME growth can generate broader economic benefits, such as job creation, more income opportunities for local suppliers, and meaningful careers within communities. Fadillah also stressed the importance of digitalization and artificial intelligence (AI) adoption, ensuring that technology adoption improves productivity and customer service.

However, he cautioned that AI should not replace human judgment, integrity, and accountability. Fadillah emphasized that the government and the private sector must work together to strengthen infrastructure, investment, education, and talent development to enhance the competitiveness of Malaysian enterprises.