The classification of micro, small, and medium enterprises (MSMEs) in Malaysia is based on specific criteria, namely annual sales turnover and the number of full-time employees. These two factors are used to differentiate businesses across various sectors such as manufacturing, services, and other sectors. Micro enterprises represent the smallest category, while medium enterprises represent the largest within the MSME spectrum.
ESG, which stands for Environmental, Social, and Governance, is a comprehensive framework used to assess a company's sustainability and ethical practices.These criteria help ensure that businesses operate with social responsibility and accountability, aligning with the interests of shareholders and potential investors.
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INCEIF University and Ficus Capital jointly developed the ESG-i Assessment Framework, which is guided by ESG and Islamic principles, to advance sustainable growth of startups and MSMEs. Launched in May 2024, the framework integrates industry insights and academic research to empower businesses in achieving full ESG compliance in a practical and gradual manner.
Explore more on how ESG-i Assessment Framework can assist local start-ups and MSMEs towards full compliance with the ESG criteria and Islamic principles.