Selangor Journal
State executive councillor Dato’ Teng Chang Khim delivering his opening speech at the 5th Selangor Smart City and Digital Economy Convention 2020 held virtually on October 15, 2020. — Screenshot via SITEC/YOUTUBE

CMCO: Timely reminder for SMEs to adopt digital strategies — Selangor exco

By Selangor Journal Team

SHAH ALAM, Oct 15 — The recent enforcement of the targeted conditional movement control order (CMCO) on Selangor, Kuala Lumpur, Putrajaya and Sabah is a timely reminder for small and medium enterprises (SMEs) to learn from experience during the movement control order (MCO) period imposed in March to become digitally equipped, says Dato’ Teng Chang Khim.

The State Investment, Industry and Commerce and Small and Medium Enterprise Committee chairman said business owners could adopt three strategies in finding their footing in the digital space within the short period of time.

“The SMEs can adopt three critical strategies as the guidance namely think big, start small and scale fast when the early adoption results are satisfactory.

“The digitalisation of business is not a one-off piece-meal project but rather a comprehensive journey. Thus the business owner must possess the right mindset to adopt the best practice, in order to compete in the new norm,” he said in his opening speech at the 5th Selangor Smart City and Digital Economy Convention 2020 held virtually today.

Teng said while the common misconception of digital transformation is that it is expensive, he said the move brings many benefits, which includes labour reduction, improve productivity, better customer retention, and creation of new sources of revenue or growth.

“The Covid-19 pandemic has disrupted the economy and forced the SMEs to go online when the MCO was imposed back in March to flatten the Covid-19 curve.

“The SME has to embrace digitalisation to cope with office closures, restricted movement and supply interruption,” said Teng, adding that SMEs can survive by applying e-commerce, O2O (offline to online) concept, food delivery and e-wallet system in their business.

The Selangor Smart City and Digital Economy Convention is one of the three main components of the Virtual Selangor International Business Summit 2020, which began yesterday until October 17.

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