Behind The Numbers: Insights from Digital SME's MSME Outlook Survey 2023

For SMEs in Malaysia, 2022 had its own set of challenges with regards to the endemic period, unstable politics, the global recession and as well as the weakening of the Ringgit.

While businesses look forward to 2023, the year-end has left markets into fresh upheaval with the recent Ukraine conflict. Our SMEs now find themselves facing significant geopolitical uncertainty, ongoing inflations, supply chain and workforce shortages.

As we break towards convergence of what lies ahead, businesses across Malaysia needs to constantly adapt to remain competitive. One way, where SMEs could gain insight into the strategies taken by their peers, Alliance Bank has conducted a recent survey into the Micro-Small, Medium Enterprise Business Outlook for 2023. Concluded at Q4 2022, our online survey captured insights from 300 local SME’s. Our Alliance Economic Research team has chimed in as well with an additional paper on the Economic Focus for 2023 with a focus on the macro level of the economy.

Here is a glimpse of the key highlights:

1. What to expect in the MSME Business Outlook 2023 – Survey Report
   • A glance back, a look forward
   • What matter’s to MSME’s in 2023
   • Where will growth be focused?


2. What to expect in the Economic Focus 2023
   • Strong domestic demand and diversified export base to shelter Malaysia from rising external uncertainties.
   • Expansionary Budget 2023 expected to sustain economic resilience given strong emphasis on the well-being of people and business.
   • We are cautiously optimistic of growth prospects next year and expect GDP growth of 4.1%