BY: SOO BEE KUN

It’s crunch time. The Malaysian economy is on a tailspin and nosedive. This is why it is important to support local homegrown businesses in a bid to boost small businesses and cottage industries all over the country.

It is time to buy local and give our support to Pak Cik, Mak Cik, Uncle, Aunty and all those local versions of Pop and Mom businesses that have sprung up lately.  Family businesses are now many but they operate with a low budget and are in need of micro-credit facilities.

The Malaysian government is committed to financially assisting these small scale businesses and they now form the bulk of businesses for the low income group or those in the B40 group. More of such businesses are being initiated and support must be given to them for now.

This is one way to survive the economic crisis. But it should not be a permanent feature of the Malaysian economy but a mere stop gap measure. Judging by the number of such small businesses being set up now it serves as a healthy sign.

But this does not mean that the government should shirk its responsibility on creating meaningful employment for Malaysians. The setting up of small businesses is just temporary while the Covid-19 pandemic is being worked out.

By all indications petty businesses are only operating for now before the economy goes back to normal and work and businesses start to pick up again. In the long run it is envisaged that the smally, family-run businesses will fizzle to be replaced by more structured businesses.

-THE MALAYSIA VOICE

** The views expressed on this opinion is of the writer and not the publisher