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Small businesses cry for lifeline as government aid underway

first_imgSome 37,000 small and medium enterprises (SMEs) have reported difficulties to the government, crying for help as government aid has yet to reach their bleeding operations, with some forced to close shop amid the pandemic.According to the Cooperatives and SME Ministry, most of the reports came from micro businesses, related to declining sales, funding, goods distribution and access to raw materials. The government is reviewing these reports to better target incentives as it is preparing economic stimuli for micro, small and medium enterprises (MSMEs).The stimuli would include tax waivers for six months and loan relaxation even for borrowings of less than Rp 10 million (US$645), said Cooperatives and SMEs Minister Teten Masduki on Wednesday. They would also cover cash transfers for micro-scale businesses and easing MSMEs access to new loans for survival. Not all would be supported, however, as the Cooperatives and SMEs Ministry is reviewing eligibility of the micro and small businesses to receive aid, said the ministry’s special staffer on creative economy empowerment, Fiki Satari. The ministry will be coordinating with the Finance Ministry, the Coordinating Economic Ministry and the Financial Services Authority (OJK) to finalize the stimuli.Indonesia SME Association chairman Ikhsan Ingratubun said he appreciated the government’s plan to support SMEs; however, most small and medium businesses had already temporarily closed or seen a steep decline in revenues. Such a condition had limited their daily cash flow which they relied upon heavily to finance their daily operations and pay for their liabilities.“The government must relieve us from paying taxes, because where are we supposed to get the cash from in times when our daily operation is limited?” he told The Jakarta Post on Thursday.Ikhsan still deemed the stimulus insufficient to keep small and medium businesses from succumbing to the COVID-19 crisis and called for broader incentives for electricity that still burdens them.Read also: Jokowi announces free electricity, discounts for households hardest hit by COVID-19 impactsThe government announced free electricity for three months starting April for 24 million households in the 450-volt ampere (VA) category, the lowest of six categories listed under existing regulations. It will also provide a 50 percent discount for 7 million households in the 900 VA category, the second-lowest category, for the same three months.“The government should broaden the incentives to other categories as well, because bigger businesses are in a cash crunch,” said Ikhsan.  The Cooperatives and SMEs Ministry suggested that SMEs convert their businesses to meet current demand, such as making masks and coveralls, as the government’s large-scale social distancing (PSBB) policy had forced business owners to close shops and as demand weakens with people staying at home.“This effort could help fulfill the domestic demand for personal protective equipment [PPE] and masks, as well as help them fulfill their daily needs during this pandemic,” said Victoria Simanungkalit, the ministry’s undersecretary for production and marketing.The ministry is also working with industrial goods supplier PT Daruma Adira Pratama to help SMEs produce appropriate PPE that correspond to the Health Ministry’s medical equipment standards.Currently, around 330 SMEs from 16 provinces have joined the program and around 80 have been included in the ministry’s catalog, Victoria said.The SMEs have also received a total of Rp 127.8 million (US$8,145) worth of orders from potential buyers consisting of 10,276 masks, 962 hazmat suits and 25 pairs of shoe covers, she added.Topics : “The president requested for this loan relaxation to be applied as wide as possible, especially for micro businesses,” Teten said after a virtual meeting with President Joko “Jokowi” Widodo. “We have also agreed to integrate the cash transfer program and the food card program with micro businesses like warung [traditional eateries], so they can still survive and have an income.”SMEs contribute more than 60 percent to Indonesia’s gross domestic product (GDP), ranging from small shops and warung to distributors of consumer products, batik workshops and craft makers. There are 70 million SMEs with outstanding loans to financial institutions.Read also: 37,000 SMEs hit by COVID-19 crisis as government prepares aidJokowi said he wanted the loan relaxation for all SMEs as soon as possible. “Don’t wait until the businesses are closed. Don’t wait until it’s too late and create disruption among the public,” he said.last_img read more

Ancelotti: Solskjaer doing impressive things at Man Utd

first_img Promoted Content8 Things To Expect If An Asteroid Hits Our Planet6 Extreme Facts About HurricanesWho Earns More Than Ronaldo?This Guy Photoshopped Himself Into Celeb Pics And It’s HystericalWho’s The Best Car Manufacturer Of All Time?Top 10 TV Friends Who Used To Be Enemies8 Fascinating Facts About Coffee8 Amazing Facts About Ancient EgyptTruly Mysterious Things That Have Happened On Chinese SoilThe Very Last Bitcoin Will Be Mined Around 2140. Read More10 Hyper-Realistic 3D Street Art By OdeithYou’ve Only Seen Such Colorful Hairdos In A Handful Of Anime Everton boss, Carlo Ancelotti, is full of praise for Ole Gunnar Solskjaer over his work with Manchester United. The two managers had to accept a point each after Sunday’s 1-1 draw at Goodison Park. “Ole is still young in the job. His work this season has, in my opinion, been impressive. Any team that has the ability to win twice against Manchester City and twice against Chelsea is dangerous,” Ancelotti said in his match programme notes.Advertisement Loading… After the game, the Italian told VG: “If I have to think anything about the match today, I would say United played well. They play good football, in my opinion: Short passes, dangerous on counter-attacks, they try to build the game. Read Also:Ancelotti shuts down Mason Holgate transfer story “It’s a team that his building. And when a team shows that they are playing with a foundation, that’s the manager’s work. I therefore think he is doing really well.” FacebookTwitterWhatsAppEmail分享 last_img read more