SMEs told to tap frontier marts
SMALL and medium enterprises (SMEs) must move out of the shadows and strive to make it on their own by tapping frontier markets like Myanmar.
Former international trade and industry minister Tan Sri Rafidah Aziz said SMEs must do their own networking through business councils to tap new markets under free trade pacts.
"Be a market leader and not a follower. Start small like a sole distributor, and build up gradually," she said during "Premier Talk with Tan Sri Rafidah Aziz", which was organised by SME Corp Malaysia in collaboration with Traders and Entrepreneurs Association of Malaysia (Perdasama).
Embark on a proper market analysis and, armed with strong business fundamentals, you can compete effectively, she advised.
Innovation and transformation of businesses are both important, irrespective of the size, she said, adding that they must also keep abreast of developments at home, in the region and globally.
The Asean Free Trade Area and the soon-to-be concluded Trans Pacific Partnership offer Malaysian SMEs new vistas to expand their businesses, be it goods, investments or services.
"SMEs in Malaysia have been mollycoddled for far too long," Rafidah said.
Any shortcomings in their undertaking should not be directed at the government but the companies themselves, she added.
Rafidah also launched P-Shoppe, a promotional and advertising portal of products owned by members of Perdasama.
During the event, SME Corp raised RM5,000 for Tabung Wira Lahad Datu Media Prima.
Source: New Straits Times
Date: 19 March 2013
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