FROM AROUND THE NET: SMEs need assistance from the Government too!!
This is one example coming from one of the affected SMEs. We are sure, a lot more SMEs feel the same way.
If the lockdown continue until 30th April then I will be forced into early retirement by closing down my factory. Reason is I can’t afford to pay salary, rental, installment, loan and zero collection n etc etc
January work 17 days
Because of CNY
February work 20 days
March work 13 days
Because of lockdown
April 0 days
If lockdown continue
Pay 4 months salary
Only 50 days productive
May – HARI RAYA off
Should I take out my savings and pay salary 🤷🏻♂ I am already 57
Luckily I postpone to pay bonus in May before Raya. I may take the bonus to replace as retrenchment benefit.
As I know a lot of SME is facing the same problem. My next door neighbor has 60 workers, 5 rented factories and some installment paying machinery. He needs 300k every month. At 42 his 15 years of hard work is going to be wiped off if lockdown continues
Msian normally give 60+ days credit. We haven’t collected the dec, Jan, Feb bills and the lockdown start. Supposing we start work in May, do you think the client can pay🤦🏻♂. This may drag till June or July before the payment comes in. How many SME can withstand until July. If the gomen doesn’t help us then we are finished
Nobody is going to be spared. If your children have financial problem, are you going to help 🤷🏻♂ so are your siblings.
Unless you are born out of rock.
No matter how solid is your house, when your neighbor on fire you will also be burnt. When you throw a stone in the middle of the pond, eventually the ripple with reached you
Hopefully the Government will create a Stimulus Package for SME. If not
God Blessed Msia