GOOD NEWS FOR SMEs. Yesterday, Prime Minister Tan Sri Muhyiddin Yassin said a RM10-billion Prihatin Package has been allocated to ease their financial burden of SMEs.
The additional measures include increasing the allocation for the wage subsidy program announced on March 27, from RM5.9 billion to RM13.8 billion, with an additional RM7.9 billion.
A special PRIHATIN grant of RM2.1 billion was also created for micro-SMEs.
This will ensure that two-thirds of workers in the country will continue to have jobs even if they are affected by the Movement Control Order (MCO) imposed to curb the spread of Covid-19.
“It is now the responsibility of the people to help the frontliners by continuing to stay at home while taking all steps to ensure cleanliness and practising social distancing when they have to be outside the house,” added the prime minister.
This infographics reveals how Brands will be affected post Covid-19, as we move into the normal.
What this means for brands is that consumers want brands that provide trust and responsibility and deliver real values, by:
1. Adapting your communication messaging.
2. Reimagine consumer motivation and path to purchase and,
3. Review current media mix and spends.