AMID the current challenging economy, the Chinese business community, particularly small and medium-sized enterprises (SMEs), has begun to voice dissatisfaction with the policies of the Madani government.
In a recent meeting with several business associates, most of them expressed disappointment over the current economic situation which they believe is becoming increasingly burdensome.
One of the key issues raised is the planned increase in the minimum wage from RM1,500 to RM1,700 which is set to take effect in February 2025.
While the Pakatan Harapan-Barisan Nasional (PH-BN) alliance claims that such move is intended to improve workers’ welfare, it is seen as a disaster and yet another heavy burden to bear from an employer stand-point.
“If you have 10 employees, that’s an additional RM2,000 a month. What if you have 30 employees? With rising operational costs, we don’t know how much longer we can survive.”
Without support such as subsidies or incentives, SME business owners dread that the minimum wage increment exercise risks jeopardising the survival of their businesses which are the backbone of the nation’s economy.
Unfulfilled expectations
For the Chinese, their support for PH in the last general election was driven by hopes for positive change. However, two years down the road, they now feel that those promises remain unfulfilled.
“We voted for them because we believed they would boost the economy. But now, costs are rising, taxes are increasing and there’s no support for businesses,” they lamented.
Populist measures such as raising the minimum wage and increasing the price of diesel fuel, they argue, only worsen the situation without providing any solutions to support the business sector.
One business owner added: “Our next choice might be to give PN (Perikatan Nasional) a chance but they need to prove that they can do better than the current government.”
As an alternative to the current administration, Perikatan Nasional (PN) must see this as an opportunity to demonstrate that it understands the needs of small and medium-sized businesses.
SME entrepreneurs are not asking for empty promises but for policies that genuinely help them tackle the current economic challenges.
Winning over Chinese voters
The leadership of Tan Sri Muhyiddin Yassin serves as an example of how a government can introduce initiatives like tax exemptions, easy financing schemes and other programmes to ensure that small businesses continue to thrive even during a crisis like the pandemic.
However, given that today’s challenges are even greater, PN may need to go beyond traditional approaches by offering both fresh and more relevant strategies.
Chinese voters are a key segment in the nation’s political landscape. PN is aware that their support for PH in the past reflects their desire for tangible change. If PN hopes to win their support, its economic policies must be more inclusive and proactive.
The Chinese seeks change and hope. However, their support does not come without conditions.
They want to see action – not just rhetoric. Their future support will depend on how well PN addresses their needs and outperforms the shortcomings of the current administration.
In return for their crucial role in keeping the country’s economy afloat, the Chinese business community seeks one thing – a government that understands, supports and helps them grow.
If PN can fulfill these needs, the chance of gaining their support in the next general election is bright. However, this can only be achieved if PN is genuinely ready to listen and act. – Nov 26, 2024
Dr Mahathir Mohd Rais is the Perikatan Nasional (PN) Federal Territories’ state secretary.
The views expressed are solely of the author and do not necessarily reflect those of Focus Malaysia.
Main image credit: SME Association of Malaysia
