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Najib Unveils Four Approaches For Entrepreneurship Development

By Thursday September 22nd, 2011 No Comments

PUTRAJAYA, Sept 22 (Bernama) — Prime Minister Datuk Seri Najib Tun Razak on Thursday unveiled four approaches for entrepreneurship development in the country to be more successful and viable.

He said the approaches are introducing new ideas which are more creative; inject innovations in business; applying stronger and popular branding; and using websites to expand the market for products.

He said the new methods were important as currently entrepreneurship in the country was not fully successful yet.

“Nevertheless, we should not be disappointed for not being fully successful but we can already see the signs of success. What is needed is to increase successful entrepreneurs.

“We don’t want them to be merely small-scale businessmen but we want them to be regional and global champions whom we can be proud of,” he said when launching rural entrepreneurs’ carnival 2011.

Najib said among the approaches or new ideas that should be practised was to look at areas where the business competition was not that intense to the extent the margin or profit to entrepreneurs was negligible.

“If we look at many businesses, tens of shops will be selling almost the same goods. This makes our business is not that profitable.

“Profit is the basis to enhance and expand our business. When talking about entrepreneurship, it does not mean we just jump into it blindly.

“We want entrepreneurs who have the acumen to choose sustainable business that can flourish and have expansion prospects,” he said.

Najib said the move to link small-time businessmen, especially in rural areas, with the wider market via the “Kedai Runcit 1Malaysia” (1Malaysia Sundry Shop” concept, led by Mydin Mohamed Holdings Bhd, was a new idea that can yield big profit to retailers.

That is why, he said, the government encouraged networking so that the product of an entrepreneur was not only sold in the domestic market but also ationwide.

The Prime Minister said entrepreneurs must also inject innovation when producing their products as it could create new demand for the product.

Citing an entrepreneur who wanted to manufacture a new design liquefied petroleum gas cylinders which are lighter and durable, Najib said the product has big potential and can yield good profit.

“I want far-sighted entrepreneurs. I don’t want a generation of primitive mindset. If we hold to our old ways of thinking, we will not prosper (in life) and be successful in managing our sustainable business,” he said.

On branding, Najib said, it was important and be given attention because if a brand was accepted by consumers, it could give big profit to the entrepreneur.

“Branding has premium and value. (for instance) the cost of a product may be RM10,000 but with intensive branding, we can sell for RM20,000 to consumers,” he said.

Najib said entrepreneurs should also take full advantage of websites like the internet to sell their products.

He said the government had earlier launched the Rural Transformation Programme in Gopeng, a fresh initiative towards empowering the rural entrepreneurial sector.

He said the programme would function as a agro-food supply and agribusiness centre which links manufacturers and consumers countrywide.

This initiative was introduced to intensify market network for products produced by cottage industry entrepreneurs in rural areas, he added.

At the carnival launch, the Prime Minister announced RM50 million initial allocation under the Small-Scale Dynamic Entrepreneur Programme to help traders, particularly in rural areas.

Present was Rural and Regional Development Minister Datuk Seri Shafie Apdal.

Source : Bernama

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