SME a significant tool to change business world, says economist

KUALA LUMPUR (BERNAMA) – Small and medium enterprises (SME), regardless of their size and industry, have the power to effect change on the way the world does business and even influencing multinationals to follow the lead, an economist said.

Quoting DDCAP Group Managing Director Stella Cox, London-based independent economist Mushtak Parker said SMEs are the backbone of national economies and collectively, their actions are hugely significant.

“An SME’s change in behaviour likely can’t shift its entire industry but collectively, any changes in behaviour (whether by changing the way they do business with their clients, where they source their products or how they treat their employees) can have positive impacts which can ripple across industries and geographies,” he said.

Cox said this in an article written by Parker, which was published in Bernama’s THOUGHTS column on the website.

She said many SMEs would look to their own peers for leadership as proven results and outcomes from actions taken by peers were easier to identify with and more applicable as relevant reference source.

DDCAP Group operates as a key provider of Sharia-compliant products, asset classes and instruments in both the primary and secondary markets.