Post-MCO, small businesses should adopt tech-based business models, says minister

  • Nation
  • Thursday, 30 Apr 2020

PETALING JAYA: Sundry shops and food business operators need to change their business model to be more technology-friendly in an effort to reduce social contact, says the Entrepreneur Development and Cooperatives Minister.

Datuk Seri Dr Wan Junaidi Tuanku Jaafar said even if such a move could not be fully implemented, it should be kept as a contingency plan.

“I hope the small and medium enterprises (SME) and micro SME will be able to explore a new business model suitable for the new norms of the world when the movement control order (MCO) is lifted.

“Those who are still doing their businesses the traditional way need to consider cashless payment and online marketing as the new way to trade, ” he said on his Facebook on Thursday (April 30).

He said business operators who needed help and guidance could reach out to the ministry, which would help by providing professional counselling and advice through its agencies.

The agencies include the National Entrepreneur Group Economic Fund (Tekun Nasional), Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), SME Corporation Malaysia, Bank Rakyat and the National Entrepreneurship Institute (Insken).

“For the record, Tekun Nasional facilitated the online application of the Covid-19 Business Recovery Financing Scheme (CBRM) from April 16.

“Entrepreneurs only need to fill in the form at for the CBRM application online, ” he added.

On March 18, the government unveiled a special stimulus package worth RM10bil especially for SMEs on April 6 in view of the economic impact of the Covid-19 epidemic and the MCO.

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