Small and medium-sized enterprises (SMEs) represent 98.5% of all registered businesses in the Malaysia and SME businesses contributes approximately RM521.7 billion to Malaysia GDP or 38.3% of national GDP (in 2018). SME businesses provides 66.2% of total employment in Malaysia.
The definition of an SME (as defined below) is important for access to finance and government support programmes targeted specifically at SME businesses. The composition of SME activities in Malaysia are as follows:
The main factors determining whether an enterprise is an SME are:
• Staff headcount
• Annual Sales Turnover
• Paid up Capital
Read more about the definition of SME in Malaysia on this WeCorporate blog.