New Year, New Goals? Finance Them With SME Fund Malaysia!
With 2023 just around the corner, business owners are sure to be cracking their brains to find fresh business opportunities to start the new year with a bang.
According to Bank Negara Malaysia, the Malaysian economy has expanded by 9.3% in the first three quarters of 2022. It is expected to grow even more next year once more companies start fully recovering from the financial burden caused by the pandemic.
Applying for an SME fund in Malaysia can be a great way to give your business the boost it needs to kickstart the new year and help you achieve your business goals. The fund provides a variety of financial resources to help small businesses start, expand, and remain competitive in the market.
In addition to assisting with capital requirements, SME funds can provide financing for training and research and development, refinance existing business financing, as well as helping businesses access global markets through export promotion measures.
All you need to be eligible for this type of business financing is:
- Own Small & Medium Enterprises that fall under the SME Corporation Malaysia (SME Corp) guidelines and the National SME Development Council.
- At least 51% of the shares must be held by a Malaysian.
- Incorporated under the Registration of Business Act 1956, Companies Act 1965 or 2016, and Limited Liability Partnership Act 2012.
- Cannot be any business establishments that are public-listed on the main board; a subsidiary of public-listed companies on the main board, Syarikat Menteri Kewangan Diperbadankan (MKDs), Government-linked companies (GLCs), or Multinational corporations (MNCs); and state-owned enterprises.
So, what are you waiting for? Let’s start adding business goals to your New Year’s resolutions for an edge over your competitors.
4 Business Goals For 2023 With SME Fund Malaysia
Expand Your Business
Expand Your Business in 2023
Business expansion should be a top priority in your business goals for 2023. With the addition of financial assistance to your budget, you can start focusing on growing your business operations by upgrading facilities, increasing inventory, and hiring more staff.
By upgrading old equipment and increasing your inventory, you can improve both the quality and quantity of the products or services you offer, which can help you retain existing customers and attract new ones.
Additionally, adding bright new staff members to your team can help improve the efficiency and productivity of your business, allowing you to handle more work and generate more revenue. Expanding your business can give you a competitive advantage over your rivals, making you an industry leader.
Improve Inefficiencies In Your Business