ASEAN KEY DESTINATIONS
M‘sian small business confidence lifts again in 2014
SMALL business confidence in Malaysia continues to rise with the majority of small businesses expecting their business and the economy to grow over the next year.
Global accounting body CPA Australia yesterday released the results of its sixth annual Asia Pacific Small Business Survey.
CPA Australia chief executive, Alex Malley, said the survey results show there is continued and real strength in the small business sector in Malaysia.
“With the pending introduction of a GST on April 1 next year, it is notable that Malaysian small businesses are typically remaining positive about the future for the economy and for their business,” Malley said.
“Nearly 60 per cent of small businesses reported that they grew last year, and 60 per cent are expecting growth in the year ahead.
“Confidence in the overall Malaysian economy also remains positive with 68 per cent of small businesses having a positive economic outlook about the year ahead.
“The results also show many businesses are investing in capital assets and looking to grow their businesses which are helping the sector go from strength to strength,” Malley said.
Other key findings from the CPA Australia Asia Pacific Small Business Survey for Malaysia include: 0.52 per cent of respondents in Malaysia expect to add to staff numbers over 2015, 0.88 per cent of respondents stated that they were likely to seek external financing over the next 12 months to help grow their business and to fund capital assets, 0.93 per cent of Malaysian respondents stated that they use social media for business purposes such as promoting their business to potential customers.
The CPA Australia Asia Pacific Small Business Survey provides annual insight into the views of small businesses across Australia, Mainland China, Hong Kong, Indonesia, Malaysia, New Zealand, Singapore and Vietnam and form part of a longitudinal study that began in 2009.
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