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Madeline Brema (Universiti Kebangsaan, Malaysia), Shamshubaridah Ramlee (Universiti Kebangsaan, Malaysia), Faridah Shahadan (Universiti Kebangsaan, Malaysia)
Weathering the Financial Storm : Malaysia's Response and Strategies to Enhance SMEs Competitiveness
Zeszyty Naukowe Uniwersytetu Szczecińskiego. Finanse, Rynki Finansowe, Ubezpieczenia, 2009, nr 16, s. 21-35, rys., tab., bibliogr. 11 poz.
Finanse, Małe i średnie przedsiębiorstwa, Kryzys finansowy
Finance, Small business, Financial crisis
This paper discusses the importance of SMEs in Malaysia's economic development. It highlights the impact of the financial crisis on the Malaysian economy in general, and on SMEs in particular. A study by SMIDEC and FMM revealed that the majority of the sur- veyed firms reported that the crisis had had moderate effects on them. Among those who cited the crisis had badly affected them, many cited reduced orders as the cause for their credit problems. The surveyed SMEs adopted various measures in response to the crisis such as revising business plans, searching for new markets, and putting businesses on hold. The gov­ernment also implemented two Economic Stimulus Packages (ESPs) to enable economic re- covery, shore up confidence and help businesses in general, and SMEs in particular. Whether these ESPs will enable Malaysia to cushion the economic downturn, is still too early to tell. As Mohamed Ariff, head of the Malaysian Institute of Economic Research told AFP "No matter how big the stimulus plan is, we can only help cushion the pain, it cannot offset it". (original abstract)
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  1. Bank Negara Malaysia (2008) National SME Development Council, 24 July 2008. "SMEs bracing for tougher days" Business Times, Monday July 28, 2008.
  2. "Companies finding it difficult to get bank loans" The Star, Wednesday January 7, 2009.
  3. Economic Planning Unit (2009) Facing Domestic and Global Challenges, Unpublished.
  4. Hafsah H. (2009) Global Economic Crisis and Impact on SMEs. Public Lecture, Organised by the Faculty of Economics and Business, Universiti Kebangsaan Malaysia, 5th March, 2009.
  5. Sulaiman M. (2009) Current Economic Crisis: What Malaysia Needs to Get Back on Track. Presenta- tion at INTAN, 20 February 2009. (Unpublished)
  6. Mahani Z.A. (2009) Malaysian Responses to Malaysian Responses to the Global Economic Economic and Financial Crisis" Paper presented at High-Level Conference on Financial Crisis, Global Economic Governance, and Development: Responses of Asia and the Global South, Organised by Research and Information System for Developing Countries (RIS). 6-7 February, 2009, New Delhi, India.
  7. Najib T.A.R. (2009) Khazanah Megatrend Forum, Delivered on 28 October, 2009, Kuala Lumpur.
  8. Perbendaraan (2009), Pakej Ransangan Ekonomi Kedua. Unpublished.
  9. World Bank. (2002). SME. World Bank Group Review of Small Business Activities. Washington, DC: World Bank.
  10. World Bank. (1994). "Can Intervention Work? The Role of Government in SME Success." Washing­ton, DC: World Bank.
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