KUALA LUMPUR: In the first quarter (Q1) of 2024, the RAM-CTOS Business Confidence Index (BCI) rose to 53.4 points, continuing its upward trend.
CTOS Data Systems Sdn Bhd noted that this positive BCI result indicates that Malaysian small and medium-sized businesses (SMEs) are optimistic about future prospects in recruitment, capital expenditure, turnover, profitability, and capacity utilisation.
Despite this positive outlook, SMEs face multiple challenges such as rapid technological advancements, inflationary pressures, and exchange rate fluctuations, which could impact financing conditions, including the ease of credit, according to CTOS Digital group chief executive officer Erick Hamburger.
"This is why CTOS continues to champion the cause of the SME community," he said.
According to him, CTOS aims to empower businesses to gain access to credit and provide a clearer pathway to a better, more sustainable future.
"We are proud to count more than 20,000 SMEs as our subscribers and envision growing this further," he said.
CTOS Data Systems recently organised a business networking event 'CTOS SME Biz Day 2024', welcoming more than 1,500 attendees.
The one-day conference, themed 'Future-Forward SMEs: Grow, Transform, Innovate', featured several speakers and moderators.
In addition to insights on the market and economic prospects in the second half of 2024, participants also benefited from speakers' real-life experiences.
This included activating digital transformation for rapid business growth, developing resilience, embracing failure in the business journey, and unleashing winning mindsets to become game-changers in the industry.