Everyone is affected by the COVID-19 Crisis. The rich, the poor and those in the middle. But while big businesses have the reserved funds they can reach into during difficult times, small and medium sized operations aren’t as fluid. Many operate on a month-to-month cash flow. Take a month away, the flow stops. Take two months away, they may shut down for good. .
Everybody has bills and debts
“Everybody needs financial support and there are so many things to be done. Create care packages for struggling businesses, so they can keep their employees on payroll and don’t have to cut down or close.”Robert Bijlhout, event and music festival organizer, which has to cancel six events for this year.
“Mandate landlords to give more substantial rental discounts, or even 100% rent free, for places that are mandated to close. Lump sum relief payment to businesses depending on the number of staff they are supporting. Higher lump sum for more staff.”Jacqueline Sim, Managing Director at Venture Food & Restaurants.
“Offer low interest rate loans for SMEs.”Wimonpun Wiboonma, Managing Partner at QC Communications Company Limited, a PR and marketing agency company.
Tax reduction would go a long way
“Tax reduction or exemption for revenue year 2020 for SMEs.”Wimonpun Wiboonma, Managing Partner at QC Communications Company Limited, a PR and marketing agency company.
“Freezing of government fees and charges for six months or more.”Jacqueline Sim, Managing Director at Venture Food & Restaurants.
Life after COVID-19 will be tough
“The government should have a clear vision on how to support businesses in the long term.”Benjawan Wisootsat, Managing Director of Fin Wine, a wine importer and distributor
“Training budget for each staff to upskill, while the government subsidies for that person’s salary.”Jacqueline Sim, Managing Director at Venture Food & Restaurants.
“Temp employment programs and social security support.”Dustin Joseph, owner of Left Hand Roasters, which sells coffee grown by local farmers.
“A cash infusion would help in the short-run, but in the long-run many businesses will have to restructure, if they made it to the finish line after this. The government should be proactive with a support plan based on businesses that want to restart, as basically most businesses have to start from 0.”Robert Bijlhout, event and music festival organizer.
Clear communication, please
“It would be great if the government issues clear guidelines on the reliefs and social security benefits provided. Although there has been some [already] announced.”Jacqueline Sim, Managing Director at Venture Food & Restaurants.
“I would’ve wanted a better channel of communication between the government and us as a business. What can we expect, when will it happen and who is eligible etc. Right now, it’s a guessing game and we have to scour the internet, social media and our surroundings for answers. There should be a general information point with daily information to keep everybody up to date and avoid misleading information.”Robert Bijlhout, gigs and music festival organizer