Kota Kinabalu: The Sabah Association of Professional Accountants (Sapa) said absence of local SMEs registration with SSM leaves them effectively invisible within the national economic landscape.
Hence, Sabah’s small and medium enterprises are urged to register with the Companies Commission of Malaysia (SSM) to unlock significant economic opportunities and achieve parity with their Peninsular Malaysian counterparts.
SAPA Predident Datuk Tan Kok Liang in making the call highlighted the current disadvantage faced by Sabah businesses operating solely under municipal licenses.
Following a recent meeting with SSM Sabah Director Mohd Arif Bin Hamzah, Tan emphasized the critical need for alignment with the national business registration framework.
“The current system relying on municipal licenses, hinders access to vital federal funding, limits market expansion, and undermines business credibility on a national scale,” Tan stressed adding, “absence of SSM registration leaves Sabah SMEs effectively invisible within the national economic landscape.”
He pointed to the stark contrast between the over 9.49 million businesses registered with SSM in Peninsular Malaysia and the lack of comparable official records in Sabah.
This disparity, he argued, creates a significant competitive disadvantage.
According to Tan, SAPA’s proposal focuses on a pragmatic dual-registration model, allowing SMEs to maintain compliance with local regulations while simultaneously gaining the benefits of SSM registration.
This includes access to federal grants and financing, enhanced legal protection, and eligibility for government tenders, he emphasized.
Tan said the association suggests facilitating this transition through initiatives such as mobile registration units and user-friendly digital platforms, potentially including fee waivers to ease the burden on businesses.
“This isn’t about sacrificing Sabah’s autonomy; it’s about leveling the playing field…By embracing national registration, Sabah SMEs can unlock their full potential and contribute significantly to the state’s economic growth,” he further explained.
In addition, Tan ssid SAPA’s initiative underscores a crucial step towards empowering Sabah’s entrepreneurial spirit and integrating its vibrant SME sector into the national economy.
