Micro, informal businesses badly hit by MCO due to lack of savings - minister

Micro and informal enterprises were severely affected by the Covid-19-induced movement control order (MCO) because their products and services are in the non-essential sector and they lack savings and strong cash flow, said Domestic Trade and Consumer Affairs Minister Alexander Nanta Linggi.

He said these were the findings of an online survey by SME Corporation Malaysia conducted by the Entrepreneur Development and Cooperatives Ministry (Medac) from Feb 15 to March 5 involving 3,855 entrepreneurs nationwide on the impact of MCO on the industry.

“This is alarming as...