Kota Kinabalu: Sabah Entrepreneurs Transformation (SET) founder and chairperson Datuk George Lim (pic) has urged immediate action to address rising living costs and support small and medium enterprises (SMEs) in the State.
He said global price increases driven by ongoing conflicts are affecting supply chains and are expected to hit Sabah harder due to its reliance on imports and higher logistics costs.
George said SMEs are facing rising operating costs, tighter cash flow and weaker consumer spending, increasing the risk of business closures.
He stressed the need to strengthen local resilience by expanding food production, supporting agro-based industries and developing basic manufacturing within the State.
He also called for improved access to financing and greater support for digitalisation and market expansion to help businesses sustain operations and adapt.
