March 1, 2008

Instill Entrepreneurship in Youngsters to Survive Recession

In reference to the recent reports on the local entrepreneurship development, I applaud the government’s effort in making the all-important first move.

The reports demonstrate the initiative of the Entrepreneur and Co-operative Development Ministry in responding to the nation’s need for young entrepreneurs; a development that we, as members of the society, need to be part of.

Higher Education Minister Datuk Mustapa Mohamed has stated that enterprising individuals are necessary for a country to be developed. This statement could not be further from the truth because the government alone cannot influence mindsets; everyone else needs to play their roles in guiding the younger generation.

They way of which the world operates today with the younger generation is dissimilar to what we experienced in the past. Youngsters today are well-equipped with an abundance of opportunities due to the rapid progression of modernity. Most of them are well sheltered by their parents and family members; which I believe is the focal contributor to the youngsters’ lack of experience in the working world.

As we all know, the reality of a recession is bound to hit our shores within a blink of an eye. Just like a decade before, the majority of employees will be left out in the dark as corporations undergo excessive retrenchment programs in order to cut their losses. Do you know which batch of them will be first to go? It is not going to be the ones who have been serving the corporations with performance. It is not going to be anyone at all who has delivered results. It will be none other than the young, new and inexperienced batch - the fresh graduates. The ones with no experience and performance to show.

Therefore, it is commendable that the government has taken the initiative to provide a starting ground for youngsters to get into the groove of entrepreneurship. The recent National Karniawan 2007 Carnival was a good example. Their allocation of subsidies for budding entrepreneurs is also a much needed step to get them started. Only then are we able to combat the rising rate of unemployment in the country; especially in times of recession.

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