Malaysian Small and Medium Enterprises Essay -- vital component of dev

SMALL and medium enterprises (SMEs) are broadly defined as manufacturing, manufacturing-related services (MRS) and agro-based industries that employ around 200 full-time employees or have an annual sales turnover of not more than RM50mil (Chermaine, 2013). Besides, the term also refers to enterprises in the services, primary agriculture and information and communication technology industries with not more than 75 full-time employees or annual sales turnover of not more than RM20mil. According to the SME Annual Report 2012, small and medium enterprises represent 98.5% of the approximately 78,000 companies in Malaysia, with the remaining 1.5% made up of multinational and public-listed companies. In many developed nations, SMEs is thought to contribute between 40% and 60% to gross domestic product and 60% and 70% of the employment, but the SME sector in Malaysia has not reached the mark yet (SME, 2012). Without doubt, small and medium-sized enterprises (SME) particularly in Malaysia (and the rest of the world) had long been the backbone of a country’s growth, with the scintillating amount of profit injection which had made it a core part of a country’s economic stability. The hypothesis here is quite simple, if the SME is able to break down the country’s market in its particular field, then it will skyrocket the stakes in the country with investors all around the world will spare a watchful eye on the growth. I’d like to pick, in this case study, the most suitable SME that have been impressive in this country. Came to my conclusion, Secret Recipe has it all. After all the hard work being put by the company in its introduction years, it is safe to say that Secret Recipe had unlocked a new level of their market with them being refe... ... are broadly defined as manufacturing, manufacturing-related services (MRS) and agro-based industries that employ around 200 full-time employees or have an annual sales turnover of not more than RM50mil (Chermaine, 2013). Besides, the term also refers to enterprises in the services, primary agriculture and information and communication technology industries with not more than 75 full-time employees or annual sales turnover of not more than RM20mil. According to the SME Annual Report 2012, small and medium enterprises represent 98.5% of the approximately 78,000 companies in Malaysia, with the remaining 1.5% made up of multinational and public-listed companies. In many developed nations, SMEs is thought to contribute between 40% and 60% to gross domestic product and 60% and 70% of the employment, but the SME sector in Malaysia has not reached the mark yet (SME, 2012).