KUCHING: The Entrepreneur Development and Cooperatives Ministry (Medac) has outlined six key strategies for its recovery plan following the pandemic.
Among them are instilling confidence of the people; improving ability and capacity; improving access and financial aid; improving technology application; opening and expanding the market along with efficient service delivery.
Its minister Datuk Seri Wan Junaidi Tuanku Jaafar said the recovery plan would comprise 30 initiatives and involve an allocation of RM372.845 million.
The plan will be implemented in two stages; the first stage is from May to Dec 2020 while the second stage is from Jan to May 2021.
“Medac is concerned about the impact of Covid-19 on almost 907,000 businesses nationwide throughout the movement control order (MCO).
“The small medium enterprises (SME) and micro entrepreneurs need to prepare themselves for a different business scenario after the MCO is lifted.
“They should not expect things to back as usual in the aftermath of the pandemic,” he said in a statement on Friday night.
Wan Junaidi said the entrepreneurs had to change their approaches towards digitalisation of their businesses.
“They should grab opportunities of training and other offers by relevant agencies from Medac. At the same time, they should also look for other sources of income for their businesses to keep running,” he said.