To ensure business continuity, the government has provided various initiatives, among which are the Special Caring Grant (GKP).
This initiative is aimed at alleviating the financial burden faced by most Small and Medium Enterprises (SMEs) affected by the implementation of the Movement Control Order.
Through GKP 1.0, 2.0, 3.0, 4.0 and GKP Tambahan, the government has channeled an allocation of RM6.1 billion to help micro SMEs including hawkers, night market traders and others.
For the latest information, the new GKP 4.0 application announced under the PEMULIH Package will be open from 15 July to 31 July 2021 for Micro SMEs that have never received GKP before.
Based on the assessment, SMEs make up 98% of business entities in Malaysia and have contributed almost 40% to Gross Domestic Product (GDP).
The government has spent more than RM15 billion involving assistance to 330,000 employers and has been able to maintain more than 2.7 million jobs since March 2020.
More than RM20 billion has been allocated to SME traders in forming loans through the Bank Negara Malaysia SME loan scheme and the government's Microcredit Financing Scheme.
The Minister of Finance, Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz hopes that every direct assistance given by the government to Micro SMEs can ease their burden, especially for businesses that are still not allowed to operate at this time.
