In the past 17 years, the growth of SMEs GDP is comparatively higher than that of Malaysia itself. Small and medium-sized enterprises (SMEs) make up the majority of businesses in Malaysia. It cuts across all industries and sectors which provide employment for Malaysians and those living in Malaysia – Proving to be the backbone of the nation’s economy
Source:SME Corp.
The Services and Manufacturing sectors were the largest contributors recorded (80%), being the main drivers of SME GDP activities. As of the year 2020, the recorded statistics are as below:
GDP Contribution: 38.2% (RM512.8 billion)
SME Employment: 48.0% (7.5 million)
Source : Dept.of Statistic Malaysia
The importance of financial skills for SMEs is recognised internationally. Financial education for SMEs is vital for the development of business and sustainability of SMEs, and varies according to the size and life stage of the enterprise
Source: OECD
The key to a strong and resilient business for SMEs are a strong sense of business and a set of practical finance management tools.
Source: OECD
At AKPK, we offer several free resources for better financial management including e-Learning Materials, Webinars and Business Templates that will be useful whether your business is just starting out or is already well established.
Learning Curriculum
Micro, Small and Medium Enterprises (MSMEs) are considered the lifeblood of an economy for many developing countries. They are frequently the drivers of innovation, employment, and sustainable economic development.
Hence, to ensure sustainable development in emerging economies, it is important to create opportunities for MSMEs. Inability to access financial education is frequently identified as a critical barrier to growth for MSMEs in emerging economies.
As part of the efforts to promote financial literacy and sound financial management by members of the public, AKPK has specially designed programmes targeted to MSMEs to provide the participants with knowledge on financial management that is related to day-to-day business operations.
Choice & Use of
Financial Services
Financial Planning
Risk & Insurance
Financial
Landscape
Values & Ethics
- The objective of this module is to educate SMEs on the importance of business values and ethics, including:
- Utilising formal payment and deposit products.
- Leveraging e-Payment and digital banking transactions.
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- Understanding fees associated with payment methods used by clients (e.g. contactless terminals etc ).
- Accessing formal financing and the factors influencing loan applications & approvals.
- The learning outcome aims to provide SMEs with the ability to segregate personal and business finances, and be aware of financing opportunities, coupled with the know-how to interact with financiers to meet business requirements.
- The objective of this module is to provide simple, practical and easy-to-understand financial planning content for SMEs, including:
- How to formalise business with appropriate registrations and the benefits of doing so.
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- Simple explanation on the financial management concepts, such as cash flow, breakeven and stock turnaround time. These financial management concepts and financial ratios are a way to evaluate the SMEs business profile and identify potential financial problems. Each ratio informs about factors such as the profitability, liquidity, efficiency and indebtedness of SMEs business.
- General profit and cash flow improvement tips and how to better plan & refine the business strategy accordingly.
- The learning outcome aims to enable SMEs to manage basic financial records and strategise their business finances better.
- The objective of this module is to provide SMEs with the relevant knowledge on risk management, including:
- The awareness about personal and business risk profile, risk appetite and management coupled with suitable insurance or takaful products to mitigate risks.
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- The right system and adequate internal control to better manage common risks faced by SMEs such as failure to keep track of stocks and petty cash movements.
- The learning outcome aims to equip SMEs with the necessary knowledge about both the financial & non-financial risks and opportunities, and hence, enabling them to manage these risks effectively with adequate internal controls.
- The objective of this learning module aims to educate SMEs about Malaysia’s financial landscape, including:
- Government assistance that is available both financial and non-financial (e.g. for capacity building).
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- Understanding the risks involved when dealing with informal and non-regulated financial products.
- The learning outcome aims to prepare SMEs with adequate knowledge to seek assistance on financial and non-financial matters. By understanding the business and financial landscape well, SMEs should be able to protect themselves from financial scams or falling prey to non-regulated financial services (e.g. illegal money lenders).
- The objective of this module is to educate SMEs on the importance of business values and ethics, including:
- The goodwill or positive improvement to the reputation of a business that comes from fulfilling financial obligations (e.g. integrity and accountability will be intact, good credit score for future loan application).
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- Their responsibilities toward employees, supply chain, and society at large.
- The learning outcome aims to cultivate positive and universal values in SMEs, such as respect and honesty, to be a contributing force to a progressive and inclusive society.
Practical Business and Financial Templates
Cash flow
Templates
Profit and loss Template
Balance Sheet Template
- Cash flow templates to guide SMEs step-by-step on simple cash inflow and outflow recording.
- Profit & loss templates to introduce SMEs to simple accounting calculations, such as sales, cost of goods, and gross profits.
- Business planning templates to guide SMEs on the business aspects that require special attention such as strength of business model against market competitors.
- Financial projection templates to help SMEs forecast coming months’ income and expenses, so that they can plan ahead and measure progress.
- Marketing plan templates that provide a general tool for SMEs to draw up action plans for reaching out to new customers and growing their business.