WE WOULD like to thank Prime Minister Muhyiddin Yassin for announcing the additional economic stimulus package specifically with SMEs in mind.

As widely proposed by SME associations and SMEs in general, the wage subsidy has been increased by up to double the previously announced RM600 per worker.

This would translate into a 12-20% percent reduction in overall business expenses for most SMEs.

The rental subsidy, via tax deduction for private landlords who offer rental reduction or waiver will also be helpful to SMEs in the retail and services sector, as rental is a significant portion of their expenses.

We hoped the government could have taken into consideration the plight of Malaysians operating in the gig economy.

Some of these would be registered businesses, and would fall under micro enterprises and therefore entitled to the RM3,000 subsidy announced.

However, many have not done so – and therefore are once again left out.

We call upon SMEs to take advantage of the stimulus and to keep as many jobs as possible, in anticipation of a mild rebound following the movement control order.

Time and time again, our SMEs have stepped out and saved the economy by keeping jobs and being in the front line to keep supply (and demand) robust.

This would be another testing time for our SMEs, and another opportunity for us to do our part.

* William Ng is group publisher, Business Media International.

* This is the opinion of the writer or publication and does not necessarily represent the views of The Malaysian Insight. Article may be edited for brevity and clarity.