OneMeal: How Will the Economic Downturn Affect Individuals in the B40 Income Group?
Written by Erleena Zuki, member of HungerHurts Marketing Team
When the pandemic impacted us globally last year, many citizens were taken aback by this unfortunate incident. Most of us tried to keep going despite the fear. We were not only trying to protect ourselves from the virus but also tried to sustain our source of income. Despite many efforts, many were affected by
the economic downturn. Small businesses that made up more than 90% of the businesses in Malaysia were forced to shut down due to the inability to sustain.
In Malaysia, people are segregated into three income groups, namely- T20, M40 and B40. This categorization was carried out based on the Household Income & Basic Amenities Survey Report in 2019.
Due to the pandemic and the increase of unemployment rate, the government proposed the revision of M40 and B40 categories as it became less relevant to the current economy. The Prime Minister shared his concern regarding this during a townhall assembly in Sabah, a month ago.
He claimed that the B40 category may now turn into a B50 category due to the financial struggles faced by these families. Therefore, it is no surprise that the M40 category will turn to M30 instead. This issue is very concerning as it brings to light the country’s current economic instability and the lack of effective methods to counteract poverty in Malaysia.
Who will then be responsible for this matter? As we have read in the news, large corporations have retrenched many employees as they are unable to financially sustain them due to the fluctuation in their business thus, leading t the closure of their businesses.
On the other hand, have we ever wondered what will happen to the small and medium-sized enterprises?
At Hungerhurts, we are aware that poverty and hunger is not something that can be eradicated easily. However, we aim to reach out to smaller sized businesses, particularly, food vendors, to help sustain their business. At the same time, we will be donating food prepared by these vendors to lower-income household groups, particularly the B40 group across Malaysia. This two-in-one initiative is possible with a donation of only RM10. Small and medium-sized businesses in Malaysia need the support from locals more than ever at this moment and you can help them today!