KOTA KINABALU: More than 176,000 entrepreneurs nationwide were forced to close their businesses due to the Covid-19 pandemic between 2020 and last year.

Entrepreneur and Cooperatives Development Minister Datuk Ewon Benedick said the pandemic had taken a heavy toll on businesses, with many entrepreneurs struggling to keep their companies afloat amid the economic downturn.

He said the government was encouraging entrepreneurs, who had previously shut down their businesses, to reopen and explore new business opportunities.

"Between 2020 and last year, 176,426 entrepreneurs had to shut down their businesses due to the pandemic.

"The government is committed to supporting entrepreneurs and small- and medium-sized enterprises (SMEs) as they are critical to economic recovery," Benedick said in a speech read by former Penampang member of parliament Datuk Donald Monjuntin at Peak Vista here today.

He said the ministry had provided various types of assistance, including grants, financing, training and entrepreneurial guidance for entrepreneurs.

These efforts, he said, aligned with the ministry's continuous support to enhance the abilities of entrepreneurs and cooperatives to remain competitive and resilient in the face of challenges, for the sake of maintaining a stable entrepreneurial ecosystem.

"We hope aspiring entrepreneurs and those who have previously had to shut down their businesses will rise again."

Benedick urged entrepreneurs to not only overcome the challenges posed by Covid-19 but also to explore various business and marketing opportunities to expand their businesses beyond the state.

He said the ministry had prepared a directory book entitled "Entrepreneurship Program 2023" for its agencies and programmes.

It is available for viewing and download at https://online.flippingbook.com/view/726095416/.

https://www.nst.com.my/news/nation/2023/03/890621/over-176000-businesses-shut-down-due-covid-19