Brand building crucial for SMEs to reach next level

For SMEs especially, Navin says crafting a strong and unique brand can serve as a protective barrier against unpredictable changes in the market.

IN the vibrant economic landscape of Malaysia, small and medium enterprises (SMEs) are vital to the nation’s growth, contributing almost 40% to the nation’s gross domestic product (GDP), and making up nearly 50% of total employment.

Yet, on the fringes of a recent ministerial dialogue with industry leaders, a crucial question was raised, about the disproportionate focus on risk mitigation and operational efficiency in support provided for the SME sector, rather than on more pivotal revenue enhancing strategies.