PETALING JAYA: While the additional stimulus for small and medium enterprises is a welcomed relief, response from the industry has been somewhat tepid as these additional measures will likely only be sufficient to help soothe the pain until the end of the movement control order in mid-April.
“We welcome these measures. But the measures are not really enough. They should allow SMEs to do business to get their income and cashflow during this MCO period. But if the MCO is extended, these measures are definitely not enough, ” he said.“This shows that the government is understanding and they are trying to help so that the SMEs can survive and can retain as many jobs as possible.
For companies with 76 to 200 employees, the company will receive a subsidy of RM800 per employee while companies with up to 75 employees will receive a subsidy of RM1,200 per employee.Special grants have also been doled out to micro businesses, which make up the largest portion of SMEs and are the hardest hit.
“However, the tight cashflow is not just because of the MCO. Businesses were also affected by the poor implementation and policy inconsistencies in the past. Besides, they were affected by the trade war and other domestic challenges. Not every small business is equipped to survive this downturn, said Dass. And because small businesses contribute disproportionately to job loss during recessions, policy responses are necessary.
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