MEDAC Launches Hotline for Entrepreneurs in Distress

The Ministry of Entrepreneur Development and Cooperatives' (MEDAC) survey estimated that about 580,000 businesses or 49% of the micro, small and medium enterprises (MSME) sector in Malaysia are at risk of failing by October 2021 if they are not allowed to continue their operations. 

6,664 entrepreneurs participated in the survey, and 60% said they are suffering from at least one form of mental health problem during the movement control order (MCO. One-third of the respondents stated that they did not receive the various aids introduced by the government. 

The survey showed that most entrepreneurs that are suffering from this problem are the ones:

• Aged from 35 to 44 years old,
• Working in service-based businesses, and
• Have been operating their businesses for over ten years. 

The survey aimed to gauge the effects of MCO 3.0 on Malaysia's entrepreneurship landscape. It displayed that many companies are now suffering from "business fatigue" syndrome and decreasing confidence due to the lockdowns. 

Its minister, Datuk Seri Dr Wan Junaidi Tuanku Jaafar, said the lockdown stopped many entrepreneurs from operating their businesses for almost a year, and they are facing financial hardship.

A mental health hotline for entrepreneurs 

In an effort to help entrepreneurs, Medac has created a hotline service to assist entrepreneurs who are suffering from mental and emotional distress because of the prolonged lockdown.

 In a statement, Medac said the hotline, named ADU@MEDAC, is a crucial support service that addresses concerns and mental health problems that are becoming one of the most significant issues faced by entrepreneurs right now. 

Wan Junaidi said the ministry is very concerned about the entrepreneur's wellbeing. Aside from providing financial aids and incentives, the ministry is also helping the entrepreneurs on the emotional aspect. 

The minister acknowledged the lockdown's impact affects not only the economic aspect but also the social aspect. It could bring a long-term adverse effect on Malaysia's socio-economic situation if it continues. 

He said that the government is very aware that the people are suffering and is looking into finding a balanced solution to resolve this problem. 

Adu@Medac

ADU@MEDAC hotline

Entrepreneurs can reach the ADU@MEDAC hotline at 1-300-88-1020. Operating from 9 am to 9 pm, the hotline serves as a one-stop centre for distressed entrepreneurs. 

The hotline will channel calls related to advice and financial-related matters to the respective agencies under Medac. Meanwhile, it will direct those with mental health-related matters to respective agencies that manage psych-social issues, such as the Covid-19 Psychosocial Support Helpline and Talian Kasih.

Source: The Borneo Post

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