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Over 4,500 Businesses Shut Down During Movement Control Order

However, SSM saw over 82,000 new business applications!

over 4,500 businesses shut down during movement control order

Main image via Pexels

According to the Ministry of Domestic Trade and Consumer Affairs, a total of 4,542 applications to stop operations was processed by the Companies Commission of Malaysia (SSM) between 1 April to 19 July this year.

 

Deputy Minister, Datuk Rosol Wahid said that although many businesses had folded over that period, SSM received 82,555 applications for new businesses, too!

 

“Whenever the economy is struggling, there would be many who register their new businesses. They may have lost their jobs, so they would look at other avenues to get income.” he explained.

 

The new businesses comprised mostly of e-commerce and online businesses.

 

 


Info via The Edge

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