SMEs counting on 2021 Budget for assistance

KOTA BHARU: Operators of small and medium enterprises (SME) are hoping for a special allocation under the 2021 Budget for them to sustain their business that are affected by the COVID-19 outbreak.

Universiti Teknologi Mara (UiTM) Alumni Society (PAUITM) Entrepreneur Affairs chairman Ahmad Muzakkir Hamid said the budget should contribute to efforts of boosting businesses, thus helping the country to revive the economy in the new normal.

The budget, he said, should also be better than the previous budget in the wake of the global pandemic.

“The SME traders and micro entrepreneurs definitely need a special allocation to maintain their business which has been affected by the pandemic. This is important to reduce the unemployment rate in the country as many companies are forced to cut down jobs and operation costs,” he said when met by Bernama here, today.

He said the government should also provide discount on utility bills, ease the conditions for making loans, as make easier for for SME traders to apply for business financing such as from Tekun Nasional and Amanah Ikhtiar Malaysia (MARA).

He also suggested the moratorium period to be extended, besides a rescheduling loan repayment with a lower instalment rate.

The 2021 Budget will be tabled on Friday (Nov 6).

-- BERNAMA