Small and Medium-Sized Enterprises (SMEs) Advancing Business Sustainability Toward SDGs: A New Force Driving Positive Change

Abstract

The COVID-19 pandemic has caused business closures and increased infection rates in many countries in the world including Malaysia. Many stakeholders have questions about the sustainability agenda and how Small and Medium-sized Enterprises (SMEs) can naturally fit into it to demonstrate that they are part of the solution. Hence, this paper investigates the issues, contributing factors and feasible solutions that can assist SMEs in Malaysia in achieving Sustainable Development Goals (SDGs) towards business sustainability. The review was carried out using relevant academic journals. The paper also connects business rebuilding to a few factors, including establishing anti-corruption regulations (SDG16), improving connectivity efficiency (SDG9 & SDG12), competitive advantage (SDG12), attracting quality talent (SDG8 & SDG3), sustainability management (SDG8, SDG9 & SDG12), and prioritising workplace diversity (SDG8 & SDG10). This paper demonstrates that in order for all stakeholders to remain competitive in the long run, SMEs must plan and consider the timing of value development. The COVID-19 outbreak had a significant impact on SMEs, but it also gave them a once-in-a-lifetime chance to make their policies and procedures stronger.