A design framework for SMEs resilience in Malaysia

Abstract

Over a years SMEs in Malaysia have had a significant impact on city growth by producing successful entrepreneurs as well as enhancing the competitiveness and efficiency of the business market. In Malaysia, the government and the private sectors are important entities in attracting potential entrepreneurs to venture into SMEs, especially among rural entrepreneurs. The contribution of the SME sector is very significant to the country's business market growth by producing successful entrepreneurs through their involvement in this sector throughout the years. However, the challenges of global market uncertainty due to the protracted health crisis that has struck the world's business market, including Malaysia, particularly the small and medium enterprises (SMEs). Hence, this paper aims to identify the factors for SMEs' resilience in facing the business market challenges in Malaysia. Besides that, this paper also provides an overview of the business market challenges Malaysian SMEs entrepreneurs in terms of movement restrictions, business operation, revenue uncertainty, people's purchasing power and others. Finally, this paper recommends an appropriate framework that integrates the factors for SMEs' resilience with the identified business market challenges in Malaysia.