In an exciting move to support small businesses across Southeast Asia, Maybank and TikTok Shop Malaysia have come together to sign a Memorandum of Understanding (MoU), kicking off a joint initiative aimed at empowering SMEs through digital transformation. The partnership marks the launch of the ASEAN SME Upskilling and Digitalisation Programme, a first-of-its-kind collaboration that blends financial services and social commerce to help businesses thrive in the digital landscape. 

What the Programme Offers

The programme is designed to give small and medium-sized enterprises (SMEs) the tools, skills, and exposure they need to go digital, grow sustainably, and compete on a larger stage. It all begins with a pilot launch in Malaysia, scheduled for next month.

Entrepreneurs participating in this initiative can expect:

Building Stronger, Smarter SMEs

According to Syed Ahmad Taufik Albar, Maybank's Group CEO of Community Financial Services, the programme is about more than just digital skills—it's about future-proofing businesses. By combining Maybank's financial expertise with TikTok Shop's powerful social commerce platform, the goal is to create a new generation of SMEs that are agile, connected, and ready for regional and global markets.

"This partnership isn't just about education—it's about empowerment," he said during the MoU signing. "We want to equip business owners with everything they need to thrive in a digital-first economy."

Spotlight on Women Entrepreneurs

Interestingly, the first batch of participants in Malaysia will focus exclusively on women-led businesses. This aligns with Maybank's HERpower initiative, a programme dedicated to uplifting female entrepreneurs through funding access, mentorship, and business support.

Currently, women-led SMEs make up about 20% of the sector in Malaysia. Maybank hopes to raise that figure to 25% by 2026, helping bridge the gender gap in business and promoting broader economic inclusion.

"Women entrepreneurs still face systemic challenges when it comes to financing and scaling," said Syed Ahmad. "By prioritising them in this first cohort, we're hoping to shift that dynamic."

TikTok Shop's Role: Visibility and Reach

On TikTok Shop's end, the focus is on visibility and exposure. Nur Azre Abdul Aziz, Director of Strategic Partnerships at TikTok Shop Malaysia, shared that the platform will provide traffic support, social media promotion, and other tools to help SMEs gain recognition.

She pointed out a real-life success story of an entrepreneur who started selling at night markets, expanded online via TikTok Shop, opened a physical retail outlet, and eventually gained regional recognition after being featured at the ASEAN Investment and Business Summit.

"That's what this is all about," she said. "It's not just digital upskilling—it's helping businesses go from local to global."

Final Thoughts

This collaboration between Maybank and TikTok Shop represents a new chapter in how traditional finance and modern digital platforms can work hand-in-hand to fuel SME growth. It's a forward-thinking move that taps into the power of community, technology, and inclusion—setting the stage for a more connected and competitive ASEAN economy.