Happening on 05/06/2020 (Friday, 10.30 AM)
💻 SME MALAYSIA Online Press Conference
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The outbreak of Covid-19 has put the world’s economy and health under tremendous stress and dilemma.
It has implicated many businesses which resulted to mass bankruptcy and unemployment.

Hence, SME Association of Malaysia initiated the SME Emergency Unit Project to help businesses in terms of maximising revenue and minimising spending.

The 3 main challenges faced by businesses are:

• Resuming business (Securing sales): the stability of supply chain is facing unprecedented challenges
• Opening store (Operations): decrease in consumption and customers, facing bankruptcy
• Existing challenge (New & existing issues): accumulative of costs, cash flow from tight to distressed

The core elements of SME Emergency Unit Project are:

• Business self-help: Good team management, well planning of cash flow are the core
• Capability of business: organising, managing, agility
• Business dependency on offline operations: minimise expenses, negotiations within up-and down-streams, work preparations
• Online business: Embracing online, grab the opportunities of change, well prepared for demand-supply chains

Maximising revenue and minimising spending strategy:

1. Stanch (Minimise Spending)

• Digital Transformation: replace workforce with technology, minimise spending on workforce
• Legal Experts: assist businesses in retrenchment, negotiations, debt restructuring etc
• Experts of Integration: Reorganise human resources between business (sharing of human resources), business restructuring or merger, business integration etc
• Debt restructuring: assist business to restructure debts, increase cash flow

2. Infuse (Financing)

• Cash flow: apart from the Government measures and banks, there are platforms such as VC/PE, angel funds, P2P borrowing, crowdfunding etc. There are listed companies that may take part in financing as well. Assist SMEs to gain access to capital markets, to adjust business to meet the requirements of capital, to balance the possible conflicts between operations of business and capital interventions

3. Reconstitute (Maximise Revenue)

• Business model: to identify the change of business model in the future, to upgrade, to transform, or to translocate?
• Sales and branding: to re-formulate sales and branding strategies to suit the new normal after Covid-19
• Media: integrate online and offline media, to assist business promoting products and services via media