Free business registration extended to all B40 entrepreneurs

Datuk Seri Alexandar Nanta Linggi

PUTRAJAYA: The exemption of business registration fees has been extended to all entrepreneurs in the B40 income group in accordance with the Prihatin Business Registration Scheme (SPPP) under the Companies Commission of Malaysia (SSM).

The fee waiver is also for the B40 target group who want to start a business and those who have yet to register their business.

Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said the SPPP, launched on Dec 23 (2020), now includes all B40 entrepreneurs and unlike before the exemption was no longer confined to youths, students and single mothers from the B40 group.

“This will enable them to have access to various funds and loans introduced by the Federal government, for the continuation of their business operations in a difficult and challenging environment during the Covid-19 pandemic,” he said in a statement today.

B40 entrepreneurs eligible for the SPPP, must be MyKad/ MyPr holders, aged 18 years and above according to business registration requirements, must be in the database of recipients of Bantuan Prihatin Nasional 2.0 for the B40 group, and with no record of business entities still active in SSM.

Nanta said since the introduction of SPPP, SSM had approved 1,066 applications from students, 830 applications from B40 youths and 73 from B40 single mothers, with an overall 1,969 entrepreneurs having benefited from it.

He said with the expansion of the target group, the SPPP is expected to open up opportunities for 180,000 individuals to venture into business and SSM is targeting 30,000 entrepreneurs to grab the offer, this year.

According to him, eligible applicants with sole proprietorship of business using their own name as on the identity card will get a RM30 fee exemption.

While sole proprietorship business or partnership business using trade name would get a RM60 fee exemption and a RM10 exemption for printing information.

The ministry is committed to easing the burden of businesses, especially B40 entrepreneurs, he said. – Bernama