PUTRAJAYA – The exemption of business registration fees has been extended to all entrepreneurs in the B40 income group in accordance with the Prihatin Business Registration Scheme (SPPP) under the Companies’ Commission of Malaysia (SSM).
The fee waiver also applies to those from the B40 group who want to start a business and those yet to register their businesses.
Domestic Trade and Consumer Affairs Minister Datuk Seri Alexander Nanta Linggi said the SPPP, launched on December 23, now includes all B40 entrepreneurs and is no longer confined to youths, students, and single mothers only.
“This will enable them to have access to various funds and loans introduced by the federal government for the continuation of their business operations in the difficult and challenging environment presented by the Covid-19 pandemic,” he said in a statement today.
B40 entrepreneurs eligible for the scheme must be MyKad/MyPR holders, aged 18 years and above according to business registration requirements, must be in the database of recipients of Bantuan Prihatin Nasional 2.0 for the B40 group, and have no record of business entities still active in SSM.
Nanta said since the introduction of SPPP, SSM had approved 1,066 applications from students, 830 applications from B40 youths, and 73 from B40 single mothers, with an overall 1,969 entrepreneurs having benefited from it.
He said with the expansion of the target group, this year should see SPPP open opportunities for 180,000 individuals to venture into business, and SSM target 30,000 entrepreneurs to grab the offer.
According to him, eligible applicants with sole proprietorship of businesses using their own names as on the identity card will get a RM30 fee exemption.
Sole proprietorship businesses or partnership businesses using trade names, on the other hand, will get a RM60 fee exemption and a RM10 exemption for printing information. – Bernama, February 16, 2021
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