KUALA LUMPUR: The micro, small & medium enterprises sustained RM40.70b losses in 2020 due to nationwide lockdown to curb the Covid-19 pandemic, the Ministry of Entrepreneur Development and Cooperatives (Medac) said. Based on the current 1.15 million registered MSME nationwide, he said the losses would mean each MSME suffered an average drop in earnings of RM35,000 for 2020. On Tuesday, Medac had submitted to the government a proposed enhanced SOPs to help speed up the opening of businesses, particularly those in the FCLO category, safely. The enhanced SOPs proposed focuses on six economic activities, which are in food and beverages (F&B dine-in), shopping malls, watches shop, pedicure and manicure (grooming services), beauty parlour/salon and barber/hair salon. Almost half of the business activities are owned by women entrepreneurs, among the groups most affected by the nationwide lockdown.

Source: The Star July 29, 2021 06:56 UTC