Introduction to SMEs in Malaysia: growth potential and branding strategy

Abstract

There was very little study about the growing SMEs industry in Malaysia previously, neither a standard definition nor the growth potential that small medium enterprises have. Many of the previous studies have focused on the degree of issues and challenges faced by SMEs and to a lesser extent on the maximum growth potential that SMEs in this country has. Different nations have utilized diversified strategic tools and resources that they have to fit into a particular concept or situation. Taking into account the growth potential in the area that one country has, strategies implemented would be different. Japan is famous for its technological advances in motors; America has borne out successful inventors to create machines to ease people’s lives and China is now the biggest manufacturing market that most of the products are made there. Malaysia has dissimilar potential as well. Too much was engrossed on standardization than branding adaption or mainly strategies being implemented among the businesses. Hence, this paper will reveal the general idea about SME, the growth potential that this country has and to use and take it to higher levels of efficiency by instigating the right branding strategy. Getting started in Malaysia is just half the battle of an entrepreneurship, the latter of becoming bigger and better will come eventually.