Home Business 7 Million Problems and Lockdown Ain’t the Answer

7 Million Problems and Lockdown Ain’t the Answer

by K. Vatsala Devi
SME Loss Jobs

For a while now, as Malaysians move from one lockdown to another form of lockdown, the murmurs of dissent, amongst the public and especially small and medium business owners have been growing louder and louder but to no avail. However, now Wan Junaidi Tuanku Jaafar, the Minister of Entrepreneur Development & Cooperatives has sounded the alarm over the state of micro- small- and medium-sized enterprises (MSMEs), warning that the sector could fall by October, taking with it 7 million Malaysians.

A recent survey involving 6,664 respondents found that around 580,000 businesses, or 49% of the MSME sector, if were forced to close could be the catalyst to a domino effect, hitting the societies hard at the core, leading to more serious social and economic impacts. He stressed that it is time to look at other holistic measures on how to deal with this, other than lockdowns.

Read the full story at: Micro SMEs on Verge of Collapse, 7 Million Could Lose Jobs.

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