Not true 30,000 SMEs have closed shop, says minister

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PETALING JAYA: Entrepreneurship Development and Cooperatives Minister Wan Junaidi Tuanku Jaafar has disputed a report that more than 30,000 small and medium enterprises (SMEs) have closed down since the implementation of movement restrictions in March.

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He said an article which had referred to a written answer from the ministry in Parliament on Nov 5 was inaccurate.

Wan Junaidi said that in the written reply, the statistics given on companies that had closed shop from March to September not only referred to SMEs but to all registered companies under the Companies Commission of Malaysia (SSM).

The reply had said that, based on SSM statistics, the total number of companies and businesses that had closed their operations from March 8 to June 9 was 9,675. Another 22,794 had closed from June 10 to September.

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He said the ministry also stated that 82,555 new businesses had been registered from April 1 to July 19, which showed the Covid-19 situation did not prevent the establishment of new businesses.

”They were now following current trends and needs of using the e-commerce platforms as their marketing medium for supplying products or services,” he said.

Wan Junaidi said the ministry, which had always been proactive, urged entrepreneurs to adopt new ways of doing business with the open knowledge provided by government agencies.

They should also adapt their businesses to the new norms, including using digital tools and intensifying their promotional strategies, and maintain good relationships with their customers.

-FMT

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