Young entrepreneurs seek more incentives from govt


PETALING JAYA: Small business owners are calling for more tax relief along with funding incentives in Budget 2021.

Entrepreneur Benedick Chen noted that taxes imposed on small businesses are a big burden, especially for start-ups.

Chen, the managing director of a Puchong-based start-up, said he hoped the government could put start-ups in the spotlight so more attention could be given to help young entrepreneurs.

“Many online start-ups are facing tough times due to low capital.

“Yet, the government is imposing more taxes such as digital service taxes, sales and service tax (SST) and other business taxes, ” added the 23-year-old.

KL Food Truck Entrepreneurs Association president Muhammad Azlan Abas proposed the introduction of a special fund to sustain the economic cycle of SME owners in the food truck industry.

Aside from the reduction of road tax for their vehicles, he said there should be funding for bodies or non-governmental organisations involved in developing the food truck industry.

“We were once told funding up to RM50,000 would be given by the government for the NGOs but we have not heard anything about it.

“The fund is crucial as we (the NGOs) are providing a lot of support to the food truck owners, ” Azlan added.

As customers are shifting towards online and digital platforms, Azlan also said that development funds for food truck digitalisation should also be considered.

An online dried fruit seller from Ampang hoped that the government would introduce more incentives for SMEs to operate online.

“There are more people doing their shopping online nowadays, ” noted Zuraida Ibrahim.

“Although sales are good, especially for food and beverage, there are still other online SME owners in different sectors who need more assistance financially, ” she added.

She said her business relied on overseas suppliers but access was getting hard as the suppliers were also affected.

She said supply shortages had forced her to increase prices and this sometimes angered customers.

“I would suggest Budget 2021 put more cash in the hands of people to spend, ” she said while suggesting that the government create more jobs.

“Relying solely on cash incentives is not that good in the long term.

“I still believe people need to get access to more job opportunities so that they can get paid and spend it locally, ” said the 51-year-old.

Budget 2021 will be presented on Nov 6.

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SME , food truck , budget 2021 , small business

   

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