The Importance of Micro Financing to the Microenterprises Development in Malaysia’s Experience

Norhaziah Nawai, Mohd Noor Mohd Shariff

Abstract


This paper aims to explore the importance of micro financing to the development of micro-enterprises (MEs) in Malaysia. MEs play a vital role in developing Malaysian economy. MEs accounted about 80% of the total Small and Medium Enterprises (SMEs) and 78.7% of business establishments in Malaysia. However, MEs face numerous problems such as lack of marketing, technology and credit facility. Therefore, micro financing is a choice to the MEs because it provides an easy, faster and convenient financing facility. The paper examines the microfinance programs offer to the MEs in Malaysia. The paper concludes that a small credit can help micro entrepreneurs to boost up their business.

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Asian Social Science   ISSN 1911-2017 (Print)   ISSN 1911-2025 (Online)

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