Yesterday, Salt had the privilege to attend the “2019 SME Conference: Supporting Businesses To Greater Success", hosted by the British Malaysian Chamber of Commerce, in collaboration with Standard Chartered.
Among the variety of panelists, SME Corp Malaysia shared with us crucial data and insights.
It was a very refreshing agenda about how SMEs are critical for the growth of Malaysia as they are really driving Gross Domestic Product (GDP) by contributing as much as 38.3%. They accounted for 66% of total employment in 2017.
To increase this participation to GDP, digital transformation is fundamental, and hiring digital talent is key.
The majority of SMEs in Malaysia (62.7%) are in the early stages of digital maturity (Only 6.8% of Malaysia’s SMEs are at stage five).
Among the top three challenges that Southeast Asian SMEs face with digital transformation, number one the lack of access to digital talent (64.7%).