Stimulus SMEs association says MOP10b can only help for ‘a very short period’

The MOP10 billion government subsidy to people and companies can only help for a very short period of time and has no effect in the long run, Chim Weng San, vice president of the Federal General Commercial Association of Macau Small and Medium Enterprises (SMEs) said in an interview to TDM.

Chim considers this support very limited noting that, if the government is to implement a new relief package to help SMEs, “it should be very precise and accurate to truly help the SMEs most affected by the pandemic. I believe the service sector is more severely affected as their businesses are susceptible to constant losses and difficulties.”

At the same time, some establishment owners have complained the government’s proposed subsidy is not enough to cover rent and salaries, a restaurant owner also interviewed by TDM said. He added that, for a fairer distribution of the subsidy, the government should consider each establishment’s operational costs to the end of June and not to June 18 (date of the outbreak), since the subsidy is calculated based on operational costs of the last two months.

In general, owners and managers of SMEs have been expressing serious concerns that, with continuing border restrictions, business losses will continue until businesses are forced to close.

Food product importers and distributors from Portugal and Portuguese-speaking countries have also noted increasing logistical difficulties which, together with reduced consumption from large hotels and restaurants, has contributed to placing their businesses in a very difficult situation.