Cover Rizal Nainy, chief executive officer of SME Corporation Malaysia
Rizal Nainy, chief executive officer of SME Corporation Malaysia
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Rizal Nainy, the chief executive officer of SME Corporation Malaysia, believes that local businesses have more than enough potential to go big—they just have to start believing that they can
“Throughout my career, I have had conversations with people from all walks of life, each brimming with zest and potential for the economy of the future,” says SME Corporation Malaysia’s chief executive officer Rizal Nainy. “They have created businesses that are rooted in our daily consumption across all layers of society—and they all have dreams to go bigger.”
For Rizal, the perception of small and medium enterprises (SMEs) being only appealing for the local market and are of 'inferior quality' compared to international brands is a stigma that hinders the growth of Malaysia’s economic capacity. Worse still, it becomes an internalised belief by the local industry players. They deem their prospects to be limited simply because they are not good enough.
This mentality curbs the growth potential of SMEs who, according to Rizal, would settle for certifications that do not exceed the bare minimum to play it safe, keeping to small-scale operations instead.
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“Malaysia has the ability to go beyond and do so much more,” Rizal says. “And I feel privileged to be able to meet all the people driving that very ability as I serve as their facilitator.”
As such, one of the key projects under his helm at SME Corporation Malaysia is the National Mark of Malaysian Brand (NMMB), a branding certification programme created in collaboration with SIRIM QAS International Sdn Bhd.
We speak to Rizal about how the NMMB works, and the potential heights SMEs can reach.
Above The National Mark of Malaysian Brand logo
The National Mark of Malaysian Brand logo
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What does NMMB mean for SMEs?
Successful applicants can carry the brand for two years. In a way, the process of obtaining the certification itself acts as a yardstick that determines the businesses’ management readiness, their quality, and their ability to embark into the international market. Once ready, they get certified quickly. Otherwise, they are still able to identify the gaps that they need to improve in their business models with guidance from SME Corporation Malaysia.
Through this programme, we hope that the perception towards the quality of products and services of SMEs being of low standard in comparison to bigger brands can be removed entirely. NMMB is aimed at building the credibility and reputation of local SMEs so that they can be on par with their international counterparts.
What other benefits do SMEs gain when they are certified?
It allows them to gain access to financial incentives. They are prioritised for trade promotional activities at home and abroad and can participate in various courses and workshops provided by us. Additionally, they are given priority when it comes to SME Corporation Malaysia-related media coverage.
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Above Malaysian products certified with the National Mark of Malaysian Brand (NMMB)
Malaysian products certified with the National Mark of Malaysian Brand (NMMB)
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We’re in an age when we’re more interconnected than ever. What do you think about this improved interconnectivity?
Interconnectivity can be described as the 'global village' phenomenon, and it is a double-edged sword. While it allows for access to an abundance of resources, it also exposes SMEs to hidden cost traps. The global village is rife with online gurus and coaches that claim ‘overnight successes’—and while there may be some that are well-intentioned, some impose a hefty sum that weighs down on the upfront capital of an SME.
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Based on your observation, what are some key strategies for SMEs that get lost in translation?
One of the most basic principles of running a business that still rings true today is that you leverage on what you have. This is the strategy of learning to adapt, to be open to learning, and to be able to pivot with readily available resources on hand.
Coaching platforms and public facilities in Malaysia are woefully underused despite the rich repository of resources that business owners can learn from. One of the many examples of these repositories is MyAssist MSME, a digital platform that is accessible to business owners of all levels. It is a one-stop referral centre that provides business growth services, such as counsel regarding market access, financing access, business matching, and access to infrastructure. In addition, business owners can find more information about the NMMB programme on its platform.
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Images: courtesy of SME Corporation Malaysia
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Usually found at home and one with her couch, Koy Yi would either crack open a good book or game in her spare time to wind down after a long day. She also loves to scour art conventions and book fairs alike when she's able, collecting art books of all regions to gain inspiration for her own illustrations. With a keen interest in people and the stories they tell, she enjoys a good talk and a good laugh (preferably over food). Follow her on her Instagram @peiyi57.
