The developmental impact of small business economy: Malaysia as a model

Abstract

Malaysia's experience in supporting small businesses is a pioneering international experience in promoting sustainable economic development. This sector has played a pivotal role in transforming the Malaysian economy, from one primarily based on agriculture to a diversified and integrated economy. This research aims to review the features of this experience and highlight the key characteristics of small businesses and their role in supporting the national economy, while analyzing their contribution to the gross domestic product (GDP) during the period from 2004 to 2022. The research also discusses the policies and measures adopted by the Malaysian government to promote this sector and expand its impact across various economic sectors.