by HARIZAH KAMEL / pic by TMR FILE 

THE Companies Commission of Malaysia (SSM), an agency under the Domestic Trade and Consumer Affairs Ministry (KPDNHEP), is extending the benefits of the Prihatin Business Registration Scheme (SPPP) to all entrepreneurs in the bottom 40% (B40) income group.

KPDNHEP Minister Datuk Seri Alexander Nanta Linggi said business registration is now given free to the B40 target group who want to start a business and those who have yet to register their business.

“This will enable them to gain access to the various funds and loans introduced by the federal government for the continuation of their business operations in a difficult and challenging environment following the spread of the Covid-19 pandemic,” he said in a statement yesterday.

Alexander said his ministry welcomes the various initiatives under the Malaysian Economic and Rakyat’s Protection Assistance Package (Permai) which was announced by Prime Minister Tan Sri Muhyiddin Yassin on Jan 18.

Through Permai, a total of 22 initiatives were announced with an injection of RM15 billion in funds.

“KPDNHEP is committed in continuing to help ease the burden of traders, especially the B40 entrepreneurs.

“We and our agencies have always emphasised the importance of ease of doing business and lowering the cost of doing business which is what SPPP stands for,” he said.

The SPPP, which was launched on Dec 23 last year, now includes all potential B40 entrepreneurs and is no longer limited to entrepreneurs from B40 youth, single mothers and students only.

Among the fee waivers that eligible applicants will benefit from are RM30 for sole proprietorship business that uses their own name as on the identity card, RM60 for sole proprietorship or business partners using the trade name, and RM10 for printing information.

To date, SSM has approved 1,066 applications from students, 830 applications from B40 youths and 73 applications from B40 single mothers making a total of 1,969 entrepreneurs that have benefitted from the scheme.

The expansion of the SPPP target group is expected to open up opportunities for 180,000 individuals to venture into business.

SSM is targeting 30,000 entrepreneurs to grab this offer this year.