Image credit: Entrepreneur
KOTA KINABALU: There are still Small and Medium Enterprises (SMEs) who have yet to receive the State Government’s assistance as they have not registered their business with the authorities.
State Assistant Industrial Development Minister Mohd Tamin Zainal said some entrepreneurs, particularly micro-SMEs in rural areas, were unable to get assistance because they do not meet the conditions set by the Inland Revenue Board (IRB), such as possessing a business license.
“Also, most SMEs in the State could not benefit from the Wage Subsidy Facility (which can help SMEs in retaining employees) because they are not registered with the Social Security Organisation (Socso),” he said in reply to Kepayan Assemblywoman, Jannie Lasimbang at the State Legislative Assembly, Tuesday.
He noted, however, there is growing awareness among Sabah SMEs on the various assistance and opportunities provided by the government which is a positive development. As a result, Mohd Tamin said they have taken steps to make sure their business is compliant to existing laws and regulations.
On the government’s Covid-19 relief for the sector, Mohd Tamin said a total of RM25.7 million was channelled for 39,200 micro SMEs and cottage-industry entrepreneurs in the State since 2020. Tamin also said a total of 39,200 micro SME and cottage entrepreneurs in Sabah benefited from Covid-19 assistance with a total allocation of RM 25.7 million since last year.
“Another initiative is the SME Assistance (Baiks) 2021 programme in which RM10 million was allocated by the Ministry through the Department of Industrial Development and Research, to provide aid for 1,430 entrepreneurs who have benefited from various assistance packages for machinery and equipment, product packaging, franchise business and digitisation,” he said.
Source: http://www.dailyexpress.com.my/news/183039/why-some-smes-yet-to-get-assistance/