Understand government policies, secure financial resilience, KCGCCI president tells SMEs

KUCHING (Dec 7): Small and medium enterprises (SMEs), which often face financial constraints, need to better understand government policies and support mechanisms to ensure long-term sustainability, said Datuk Tan Jit Kee.

The Kuching Chinese General Chamber of Commerce and Industry (KCGCCI) president emphasised the importance of aligning business strategies with measures outlined in the national budget.

“A strong financial foundation helps businesses remain resilient in the face of changing environments and prevents them from being caught off guard in unforeseen circumstances,” he said when opening a seminar themed ‘Tax Negotiations and Fiscal Shocks’ organised by KCGCCI.

Most participants at the seminar were SME representatives with limited access to capital, making preparation for various business challenges crucial.

The event provided a platform for participants to acquire relevant information on national budget measures.

For instance, Tan highlighted that Putrajaya has set aside RM50 billion for SME loan funding next year, including unsecured loans.

“Unsecured loans are those businesses can apply for without providing assets as collateral. However, not all commercial banks offer such loans, so SMEs should first assess their financial situation and explore options from various banks to establish a sound financial structure,” he said.

Tan also noted that the invited speaker Kenny Chong has been conducting similar seminars recently and has earned high praises from the business community.

“Participants would normally pay RM700 to RM900 to attend Kenny Chong’s seminars, but this session is free,” he added, expressing hope that attendees would benefit from the insights shared.