Over 30k SMEs have shuttered since the beginning of MCO, Parliament told


KUALA LUMPUR: A total of 32,469 small medium and enterprises (SMEs) have folded since March when the movement control order (MCO) was first implemented to stem Covid-19, says the Entrepreneurship Development and Cooperatives Ministry.

The Ministry, quoting statistics by the Companies Commission of Malaysia (SSM), said that 9,675 SMEs shut down operations during the first phase of the MCO from March 18 to June 9.

During the recovery MCO phase from June till September, 22,794 SMEs shut down.

August recorded the highest figure, with 17,800 SMEs folding during that month.

The Ministry gave the statistics in a Parliamentary written reply dated Nov 5 in response to June Leow (PH-Hulu Selangor), who asked the number of SMEs that have folded since the MCO was enforced.

Meanwhile, the Ministry said its survey found that micro entrepreneurs were the most affected by the Covid-19 economic fallout, as a majority of them still have yet to receive government assistance.

To address this issue, it has proposed the government increase the current special Covid-19 financial relief to entrepreneurs.

It also proposed expanding product development training and diversifying promotional programmes and marketing hubs to increase product demand and market access.

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights
   

Next In Nation

Sarawak polls: Clean sweep on the cards for GPS if it maintains strong team spirit, says Abang Jo
PM: Be proud of Bahasa Melayu
Traffic diversion along Paka Toll Plaza route from 9am-1pm on Monday (Nov 29)
Dr Wee: Newly-completed Desaru Coast Ferry Terminal to create new sea VTL with Singapore
Security guard injured by car attempting to head into Singapore via Second Link
MRSM 2022 special admission tests for Form 1, 4 students in December, says Mahdzir Khalid
PM to visit Singapore on Monday (Nov 29) in conjunction with VTL launch
Covid-19: More than 98% of new cases mild, asymptomatic, says Health DG
Brawl among friends leaves one dead after neck slashed with key
Dr Wee uncovers unsatisfactory conditions at Johor JPJ during surprise visit

Others Also Read


Vouchers