Question

Business support system in Malaysia. Ability to explain the availability of business support system in Malaysia. Give the appropriate example and discuss it briefly.

Answer 1

Business Support System in Malaysia refers to when the agencies which are private in nature or the government of the country provide its services or assist the entrepreneurs so as to help them in developing a business or a start-up.

Business support system include the following services provided:

1.Financial support

This includes financial institutions, Banks, etc. The most common problem of almost all the entrepreneurs gets stuck at lack of funds.

This difficulty is solved through such financial institutions or banks providing financial support to the entrepreneurs in form of loans having very low interest rates or leases, overdraft facilities, hire purchase facilities or even providing initial funding for a start-up.

Some examples of such institutions in Malaysia are:

  AgroBank

  Syarikat Jaminan Kredit Malaysia Berhad

   Malaysian Exchange of Securities Dealing and Automated Quotation (MESDAQ)

2. Management training assistance

Entrepreneurs sometimes lack certain job skills or expertise or knowledge in certain areas of business.

So in order to help them improve such skills, some agencies offer different types of training and courses.

Some examples of such agencies in Malaysia are:

MARA (Majlis Amanah rakyat)

MARDI (Malaysian Agricultural Research & Development Institute)

MEDAC-Pusat Pembangunan Usahawan Malaysia

3. Technological support

Technology is the most important tool for any business, be its development or starting it from scratch.

Thus, having sufficient technical knowledge is a must for entrepreneurs and for this some agencies provide proper technical assistance, skills, education, and updates about the latest technological advancements in various business fields.

Some examples of such agencies in Malaysia are:

MARA (Majlis Amanah Rakyat)

MARDI (Malaysian Agricultural Research & Development Institute)

MTDC (Malaysian Development Corporation)

4. Infrastructural support

Deciding on the Location or the sites to be prepared for the business is another important aspect to be considered while doing a business.

This service is also provided by some agencies which are:

MARA

UDA

SEDC (State Economic Development Corporation)

5. Marketing network support

Creating a marketing network is the most important point to remember for maintaining and creating a distribution channel both locally and internationally.

This service is also provided by some agencies which are:

MITI

MATRADE

FAMA

6. Research and development assistance

To conduct the necessary research and development for checking the various types of feasibility studies and for doing some marketing research, agencies provide assistance.

Examples of agencies are:

MARDI,

SIRIM, the Institute of Higher Education,

FAMA

7. Advisory and information support

Some agencies provide the follow-up support for the development of program.

Examples of such agencies are:

MITI

MARDI

SIRIM