5 TIPS ON HOW YOUR EDUCATION BUSINESS CAN RECOVER DURING RMCO

In the fourth stage of Movement Control Order (MCO), the Malaysian Government is focusing on the recovery and economic stimulus of the country while continuing to battle the invisible war that is COVID-19. Having that said, most businesses including the education sector are now slowly allowed to operate with condition that they adhere to the strict SOP and guidelines provided by the respective ministries.

At the point of writing, only the guidelines for the operations of Childcare centres (Taska) have been published and this can be found here.  While waiting for the more detailed S.O.P from the Government, have a look on an article we previously published on 6 Guidelines for the New Normal of Offline Classes

In the latest announcement by our Prime Minister, Tan Sri Muhyiddin Yassin unveiled a host of measures in the government’s Short-Term Economic Recovery Plan. Here are some of the points that may benefit you.

  1. Child Care Subsidy (up to RM5,000)

Under this newly introduced subsidy, the Government is subsiding childcare expenses to support working parents. Firstly, disbursement of e-vouchers of RM800 per household for mobile childcare services that can be used from now until end of August 2020. Secondly, increase in income tax relief for parents on childcare services expenses from RM2,000 to RM3,000 for YA2020 and YA2021.

Furthermore, childcare centres that are registered with the Ministry of Women, Family and Community Development will also receive a one-off grant of up to RM5,000 to help them comply with the new healthcare SOPs. At the point of writing, details on the execution of these initiatives are still scarce. Keep updated with the official website at: http://ezi2care.jkm.gov.my/

2. 50% Digitalization Grant for Learning Centres (up to RM5,000)

In the Budget 2020 Initiative, the SME Digitalization Grant was introduced to encourage SMEs in Malaysia to adopt measures of digitalization and technological automation. Under this Grant, eligible companies will receive 50% subsidy of the total cost up to RM5,000. Get to know more about this limited grant.

Especially during this pandemic period, companies need to speed up their digitalisation process in reducing human contact. Digitalisation is now not a choice anymore but a need to ensure continuity of businesses for a long period.

For an education centre, the most crucial digitalization adoption is a management system where you can reduce all your daily operational tasks while continue keeping safe. With AOneSchools Management System, you can issue e-receipt to parents while constantly keeping track of student fee payment. Another feature of this system also allows the teachers to update students’ temperature before they enter class, and this is notified to parents in real-time.

Here are other steps on how you can manage your centre more efficiently after reopening.

AOne was appointed as one of the vendor under the SME Digitalization Grant and this means that eligible learning centres can apply for the management system and thermal scanner at only half the price! Check if you are eligible:  http://aonepayschool.wasap.my

3. Business Loans with Low Interest Rates

In addition to all the loans mentioned in the previous article, here is a list of available loans that you may want to consider ensuring the sustainability of your education business.

Pro-tip: just make sure that your business’ monthly cashflow can cover the repayment of the loan.

Programme NameLoan SizeInterest RateLead Agencies
PENJANA SME Financing (PSF)  Up to RM500,0003.5%Respective Banks
PENJANA Microfinancing  Up to RM50,0003.5%Tekun Nasional and BSN
Bumiputera Relief FinancingRM 100,000 to RM 1 million  3.5%  (Moratorium of up to 6 months from disbursement)PUNB and MARA
More info at www.hasil.gov.my

4. Tax Relief on Thermal Scanners and COVID-19 Related Expenses

In order to encourage businesses to adapt to new norms and adhere to strict SOPs, the Government has extended the period and expanded the scope of expenses allowed as tax deduction or capital allowance for COVID-19’s prevention including COVID-19 Testing and the Purchase of PPE or thermal scanners.

CHILDREN BELOW 12 YEARS ARE OF HIGHER RISK IN GETTING INFECTED!

Scan your students’ temperature before they enter class! Get an automatic Thermal Scanner for your learning centre today!

5. Wage Subsidy Programme

Previously, it was announced that through the programme, wage subsidies of RM1,200 are paid to employers for each local employee earning RM4,000* and below for a period of 3 months only. In the most recent announcement, the PM has extended this subsidy programme for another 3 months until the end of September. However this time, eligible employers will only receive wage subsidies of RM600 per month per employee

In addition to this, the Government has also introduced the Employee Recruitment Incentive Programme whereby companies that hire the unemployed group aged below 40 will receive RM800 per month per worker for a period of 6 months. For companies that hire aged 40 and above as well as disabled persons, the companies will receive RM1,000.

The wage subsidy will be credited to the employer’s account within 7 to 14 days of the date of approval. You may make the application online at prihatin.perkeso.gov.my

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