The Entrepreneur Development and Cooperatives Ministry has urged local authorities to facilitate entrepreneurs’ business license application process and cause more pain for them.
Minister Tan Sri Noh Omar said entrepreneurs are facing challenges due to limited trading sites and in their license applications, as well as lack of financing opportunities.
“In Tanjong Karang for example the focus should be on the micro and informal entrepreneurs, food truck operators who require parking space to operate must be given a chance to run their business,”. He also expressed hope that the local authorities will not issue compounds to entrepreneurs who are still recovering from the Movement Control Order following the COVID-19 pandemic as well as the flood disaster.
Many of the smaller business owners have yet to fully regain their income levels and still see few customers returning to support them due to looming worries over the virus variants. Tan Sri Noh has also tasked the government financial institutions to facilitate loan applications for flood-affected entrepreneurs regardless of whether they have been blacklisted by CCRIS.
To date, the Ministry has allocated to its agencies Bank Rakyat and SME Bank RM62 million in funds to assist rural entrepreneurs affected by the recent floods. Each of the banks has received RM40 million and RM22 million respectively and will be using them for loan purposes.