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Factsheet on new sme definition in Malaysia
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Factsheet on new sme definition in Malaysia

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New definition of SMEs in Malaysia. Started January 2014. Percentage of SMEs in other countries and guiding principles in determining the new definition.

New definition of SMEs in Malaysia. Started January 2014. Percentage of SMEs in other countries and guiding principles in determining the new definition.

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  • 1. FACTSHEET ON NEW SME DEFINITION Current SME Definition (adopted since 2005) Introduction  New SME Definition was endorsed by the National SME Development Council (NSDC) on 11 July 2013.  Covers all sectors including construction and mining & quarrying.  Adopted top-down and bottom-up approaches i.e technical analysis, global benchmarking and stakeholder engagements with industry associations, M&A, regulators and financial institutions to derive the definition.  Expected to raise the share of SMEs to total establishments from 97.3% currently to 98.5%.  Only business entities registered with SSM or equivalent are defined as SMEs. Comparison of SME Definition Criteria Used Across Countries Manufacturing & MRS: Sales turnover: < RM25 mil OR Full-time employees: < 150 Services & Agriculture: Sales turnover: < RM5 mil OR Full-time employees: < 50 Guiding Principles in Determining the New Definition New SME Definition (Effective from 1 Jan 2014)  For the manufacturing sector, SMEs are defined as firms with sales turnover not exceeding RM50 million or number of full-time employees not exceeding 200  For the services and other sectors, SMEs are defined as firms with sales turnover not exceeding RM20 million or number of full-time employees not exceeding 75 Economics and Policy Planning Division, SME Corp. Malaysia 16 October 2013

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