Redzuan: SMEs needs to buck up with culture to succeed
KUALA LUMPUR: The small and medium enterprise sector needs to buck up with the culture to succeed and contribute up to 50 percent to the economy, said Entrepreneur Development Minister Datuk Seri Mohd Redzuan Yusof.
“Appreciating culture is not new. But given its complexity it is challenging. We at the Entrepreneur Development Ministry have been pushing for it. It is not an easy job. That is why we are pushing for it through the Shared Prosperity Vision 2030.
“The prime minister revived it on 2 July 2018 with the launch of the vision. We need to regain the discipline and culture that we have lost.
He said this at the launch of Asean Lifestyle Week – Accessing Markets Beyond Borders that is held at the Kuala Lumpur Convention Centre.
He added the government is determined to make Malaysia great again.
“We need to be more productive with a conducive ecosystem. How do we achieve and mutually benefit from it? We must be clear with the culture of information.
“It is imperative for us to find new ways to compete. We can’t be relying on natural resources and cheap labour which is 2.5 million
He added that entrepreneurs need to ride on information, communication technology, e-commerce and innovations.
“Innovations are moving so fast that we cannot be laughing at it since it create industries.
“Don’t belittle any ideas. We will give you the support,” he added in reference to the flying car idea that is being developed.
He also spoke on the importance of branding.
“Going global is big thing. You must prepare systematically. Brands also convey presence and how you are seen. Branding defines the essence and values of your company. A brand recognition is a brand trusted by customers,” he said.
“The government is supporting and pushing SMEs towards regional markets. We need to focus on digital economy,” he added.
He also spoke about making entrepreneurs out of the B40 group.
“The majority of the B40 needs to be assisted in terms of training. We have funds such as digitisation. Part of RM6.5 billion funding are for SMEs.
“Another RM20 billion is allocated through bank Islam facilities for SMEs.”
