National Entrepreneurship Framework to be ready by mid-2019

KUALA LUMPUR: The National Entrepreneurship Framework (NEF) will be ready by mid-2019.          

SME Corp Malaysia Chief Executive Officer Noor Azmi Mat Said said related stakeholders were now providing the necessary inputs to support its completion.

The framework was unveiled last month as a strategy to elevate entrepreneurship development by 2023.

“We need to go deeper into the action plan and put in place initiatives required, so that the framework will become inclusive. So, it’s progressing right now,” he said after the launch of the SME Digitalisation Whitepaper in collaboration with Huawei Technologies (M) Sdn Bhd.

He said the outcome of the whitepaper would also be included in strengthening the framework’s foundation.

A study, comprising 2,033 small and medium enterprises (SMEs) across all sectors showed many of them are caught in a computerisation trap and not realising potential sales and productivity via digitalisation.

Hence, the study advised the policy makers to shift efforts from SME computerisation initiatives towards digitalisation.

It said appropriate funding was also needed to drive SMEs to the next level of innovation and productivity.

Overall, 49 per cent of the study respondents faced financing problems in adopting digitalisation, while 48 per cent lacked skilled employees.

The study also recommended that SME Corp establish an office focusing on the digitalisation of SMEs.

Through the office, related agencies will be able to oversee implementation of a proposed Innovation Centre and initiatives lined up by the government.     The study also cited the importance of all stakeholders discussing and mapping out their programmes to identify overlapping areas and programmes for rationalisation and gaps for additional action.

“We will look at it. Huawei have the platform and definitely, the next part is to have the private players such as application developers, to come on board (Innovation Centre).

“Definitely, we need a platform and centre for these developers and we will look at it,” he added. – Bernama

According to the study, the Innovation Centre is aimed at providing SMEs with an ecosystem to engage with stakeholders and synergise the areas of innovation, facilitate and accelerate to drive the digital transformation among Malaysian SMEs. –Bernama