KUALA LUMPUR, April 25 — Small and medium enterprises (SMEs) need to be smart in finding new sources of revenue to tide over the movement control order (MCO) period to ensure business continuity.
University Putra Malaysia (UPM) business development manager Associate Professor Dr Ahmed Razman Abdul Latiff said SMEs should also spend wisely and take advantage of the additional financing facilities offered to enable them to have sufficient liquidity and savings to cover operating costs.
As stipulated under the Prihatin Rakyat Economic Stimulus Package (PRIHATIN) (additional measures), he said the government is offering a special grant of RM3,000 to micro companies.
‘So, take this opportunity, if it is still difficult to make money these days,” he said in a talk show “Ruang Bicara” on Bernama TV on the impact of the PRIHATIN package on targeted groups here Friday.
Ahmed Razman said if the MCO is further extended as the war against COVID-19 continues, the government needs to supplement the stimulus package with more effective measures for SMEs.
“I hope that throughout the MCO, the government will continue to monitor what is happening on the ground such as unemployment or businesses winding up. If this happens, then further measures should be implemented.
“The assistance or stimulus package does not have to be given only during the MCO, instead even after the MCO ends. And the disbursement channel must be efficient so that the assistance reaches those in need,” he said.
He said at the same time, the government needs to think of ways to reform the monetary system so that its debt burden, as well as that of individuals and SMEs could be reduced.