Budget 2025 Empowers Growth And Ensures Stability For SMEs
Table of Contents
The recent Budget 2025 tabled by Prime Minister Datuk Seri Anwar Ibrahim showcased a strong foundation in the government’s commitment to further empower growth for SMEs in Malaysia while still ensuring stability.
Establishing a strong foundation
Country Head of Funding Societies Malaysia, Chai Kien Poon remarked on the government’s visionary approach to the Budget 2025 tabling and their positioning in technology and innovations as a central pillar of Malaysia’s development.
Country Head of Funding Societies Malaysia Chai Kien Poon
In a press release statement, Chai noted that Funding Societies Malaysia is “encouraged to see measures to support micro, small, and medium enterprises (MSMEs) to accelerate economic growth while remaining people-centric and focused on equitable distribution, sustainability, and high-quality development.”
Initiatives such as the MyCIF funding for Islamic financing and the introduction of CoSIF for MSMEs and Mid Tier Companies (MTCs), will ensure the growth and resilience of businesses and subsequently future-proof the socioeconomic well-being of all Malaysians.
Digitalisation to overcome the financing gap
Chai also notes that the continued support for MSME digitalisation through initiatives such as Geran Padanan Digital PMKS and Geran Digital Penjaja is also essential as it has seen some Malaysian SMEs thriving by adapting to digital trends and evolving market demands.
However, there are still many SMEs that encounter significant challenges such as managing costs and navigating an increasingly digital landscape. Another major challenge that Malaysian SMEs face is access to financing. While alternative platforms such as Funding Societies offer some relief, there still remains a significant financing gap, which can only be overcome by adopting a whole-of-nation approach.
To help overcome these challenges, Chai says that Funding Societies aim to expand their product offerings and deepen their engagement with businesses to better address their financial needs.
Want the highlight of the Malaysian Budget 2025? Head over here for our summary.
