PETALING JAYA: Parti Gerakan Rakyat Malaysia’s SME Bureau has unveiled its business advisory platform #BforB to assist local businesses to build resilience and sustainability in preparations for the post movement control order (MCO) period.
Taking the situation in China as an example, the party’s deputy secretary general and project head, Gary Lee projected that local businesses may still suffer even after the stimulus packages kick in and the reopening of business post-MCO.
“A lot of companies are already finding it hard to manage the current pause in business, it is no longer going to be business as usual. So we have to take measures to reset, reinvent, reconnect, realign the supply chain and reboot Malaysia’s economy,” he said in a statement.
On a micro level, buying power may be reduced as spending habits changed due to job losses, pay cuts, fear of losing jobs or general self-imposed precautionary measures. It pointed out that the world is still fighting the pandemic, and the travel restrictions, export restrictions, operational disruptions, budget freezes would continue to impact Malaysian businesses negatively.
Lee cited Bank Negara Malaysia’s projection of up to a 2% GDP contraction is expected this year due to the economic impact of the Covid-19 pandemic. However, Gerakan SME Bureau, which has been tasked to assist in this project, sees an opportunity in the situation as it projected a continuing demand in areas such as personal protection and hygiene items.
In these challenging times, it urged Malaysian businesses that have the resources to do so to be a part of this ecosystem, from cleaning services, chemical supplies, packaging, marketing and logistics among others, to support each other to create a more sustainable business environment.
Lee pointed out that the MCO measures are showing results and hopefully with the curve flattened, businesses will be allowed to resume operations.
“Considering the global fight against this pandemic, we should also look at ways to fill the gaps in the supply chain and manage the growing shortage of essentials. We can provide tools, methods and platforms for owners to be back on business and ultimately get more people to be back to work,” said Lee.
He hopes that it could connect business to address these issues as well as to tap into the export market.
Lee noted that the business advisory platform will be available to local businesses of all sizes for consultation as well as coordination for services including, business transformation & management advisory, back to work SOP & guidelines, factory transformation & processes among others.
Gerakan is an independent political party of which majority members are made up of Malaysian professionals.