In the spirit of togetherness, Malaysians are urged to support homegrown products and services.
SINCE the Covid-19 crisis hit and the ensuing pandemic-related restrictions, over 30,000 small and medium enterprises (SMEs) have closed shop, according to the Entrepreneur Development and Cooperatives Ministry.
Tourism, which is the third biggest contributor to Malaysia’s gross domestic product (GDP), suffered RM45bil losses within the first half of 2020.
When businesses are hit, employees are likely to bear the brunt of collateral damage. As of October 2020, the Social Security Organisation (Socso) reported 90,000 job losses – representing a 278% increase from 2019.
So how have we been coping?
The Government has put in place economic stimulus packages to help businesses and individuals cushion the impact.