Cost Management Strategies for Small and Medium-Sized Enterprises (SMEs): Brunei Darussalam

Abstract

Small and Medium-Sized Enterprises (SMEs) form the backbone of Brunei Darussalam’s economy, playing an essential role in driving economic growth, diversification, and employment. SMEs account for more than 97% of registered businesses in Brunei and contribute significantly to the country's GDP. These businesses are crucial in sectors such as retail, food services, manufacturing, and agriculture, where they foster innovation, encourage entrepreneurship, and provide a substantial number of job opportunities for the local workforce. The government of Brunei, through various agencies such as Darussalam Enterprise (DARe), has long recognized the importance of SMEs and has implemented numerous support initiatives to assist them in growing and sustaining their operations.