The number of micro, small and medium enterprises (MSMEs) have declined by 7.3% for the period between 2020 and July 2021, SME Corp Malaysia CEO Rizal Nainy. This is due to the pandemic and Movement Control Orders (MCOs) as well as the floods in December last year which affected many SMEs.
“The decline is not surprising due to the pandemic and MCOs that have affected their operations. Interrupted cashflow was a key challenge in the pandemic, as well as the disruption in supply.
“High operating costs are another factor. The floods of December 2021 also affected many SMEs. We understand that these issues have made it difficult for them to operate and they need support,” Rizal said at the Associated Chinese Chambers of Commerce and Industry of Malaysia webinar on the SME Assistance Scheme.
Read the full article here: https://themalaysianreserve.com/2022/04/18/number-of-smes-decreases-by-7-3/
