National Trade Blueprint

14 National Trade Blueprint The Need for a National Trade Blueprint Given the opportunity that exists to increase growth across exporters, large or small, it is important to understand some of the factors that are currently holding businesses back from looking to expand overseas. Capacity to Export Knowledge gap • Low utilisation of information channel and lack of access. Skills gap • Poor marketing skills, i.e. packaging and storyline. • Inadequate visibility of Malaysia’s products in the international market. Vision/ Drive • Domestic oriented mindset and risk-averse, which impeded growth and innovation initiatives. • Lack of proper business strategy for mid-tier companies. Innovation/ R&D • Manufacturers, particularly SMEs, are often constrained to conduct R&D and commercialisation due to inadequate resources. • Lack of innovation capacity to facilitate the leap towards an innovation-driven company. Talent • Reliance on foreign workers. • Lack of skilled talent to innovate and increase productivity. Technology • SMEs floundered along the journey of e-commerce and technology, due to various reasons such as financing, shortage of skilled talents. • SMEs are behind in terms of Industry 4.0 readiness. Financing • Lack of financing capabilities to drive export initiatives. Government Initiatives • Low utilisation of government initiatives.