Malaysian entrepreneurs defy the pandemic

Malaysian entrepreneurs defy the pandemic

More companies opened than closed in Malaysia in 2020, despite the devastating impact of Covid-19.

Figures from the Companies Commission of Malaysia (SSM) showed that 437,769 new companies were registered in 2020, including 131,139 new online companies, compared with 78,420 companies that closed.

Entrepreneur Development and Cooperatives Minister Datuk Seri Dr Wan Junaidi Tuanku Jaafar said: “This shows that if one is dynamic, able to adapt to change, and use technology, they will succeed. To be a successful entrepreneur, you need to think on your feet and be able to change your plans when it is no longer suitable and be prepared to seize new opportunities.

“Those who embrace technology will flourish and those who don’t will face difficulties,” he said. He added that the Ministry of Entrepreneur Development and Cooperatives would “work hard to help establish a conducive ecosystem for entrepreneurship in Malaysia to thrive”.