The Small and Medium Industries Development Corporation, SMIDEC, is being re-branded and now re-designated as the Small and Medium Enterprises Central Coordinating Agency.
It will also take a new name, which is SME Corporation or in short, SME Corp.
The new entity, SME corp, will be tasked to coordinate and administer related programs across various industries for SME entrepreneurs, covering 18 ministries and 60 agencies and is expected to be fully operational by January 2009.
Pursuant to the latest move, branches will also be established in every state in the country to accommodate a smooth running of administration and coordination. The set up of new state branches will also provide an easier access for small scale entrepreneurs to approach the corporation for assistance.
To achieve the new operational objective, SMIDEC will be recruiting new staff and employees, which can be up to 300 additional headcounts. About 50 of the current SMIDEC officers will undergo a comprehensive training to become certified SME Business Counselors. The training modules will include basic SME counseling, production management, financial and management planning.
The original SMIDEC was established in 1996 as a government body to spearhead the development of entrepreneur programs and initiatives, especially related to small and medium (SME) industry. Some of the services and programs it offers are skills upgrading, supplier program, enterprise development, SME expert advisory and infrastructure development.