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

Deputy Prime Minister Datuk Seri Fadillah Yusof said the proposal merited further consideration and constructive engagement with the relevant ministries, agencies and industry stakeholders. — Bernama pic

First Published: Thursday, 05 Nov 2026 12:58 PM MYT

KUALA LUMPUR, Nov 5 — The government welcomes the business community’s proposal for more structured support for growth-stage small and medium enterprises (SMEs), said Deputy Prime Minister Datuk Seri Fadillah Yusof.

He said the proposal merited further consideration and constructive engagement with the relevant ministries, agencies and industry stakeholders.

“It is in this spirit that I welcome the suggestion to explore a more structured approach towards supporting growth-stage SMEs.

“Naturally, any proposed approach must be carefully assessed on its merits, taking into account existing initiatives and the practical needs of our businesses,” he said in his speech at the opening of the World Marketing Summit Malaysia 2026 here today.

Fadillah said equal attention must be given to helping businesses sustain their growth after achieving initial success.

He said securing a major contract or an opportunity to enter international markets could require an enterprise to recruit more employees, strengthen management capabilities, invest in equipment and obtain additional financing.

“The very opportunity that promises to take a business to greater heights can also test its ability to sustain that growth.

“We need to listen to entrepreneurs when shaping policies, as their experience in building businesses and overcoming challenges could help identify where support would make the greatest difference,” he said.

On artificial intelligence (AI), Fadillah said technology adoption should be guided by its ability to solve problems and serve people better.

“Are we adopting technology simply because it is available, or because it genuinely helps us solve a problem and serve people better?

“Meaningful innovation for small businesses does not necessarily require the most sophisticated technology, but may involve reducing time spent on repetitive administrative work so employees could focus more on customers,” he said.

While AI could help businesses analyse information and make recommendations, he said it did not remove the responsibility to exercise sound judgement, uphold integrity and consider the consequences of decisions affecting people’s lives.

“Technology may expand what we are capable of doing, but it is our values that must guide what we choose to do with that capability.

“We need to ensure smaller enterprises, workers and communities have meaningful opportunities to participate in and benefit from technological progress,” he added. — Bernama