PM: Be Innovative In Creating Wealth, Entrepreneurs Urged
At a recent speech at the Rural Entrepreneurs Carnival 2015, Prime Minister Datuk Seri Najib Tun Razak advised entrepreneurs to think creatively and come up with ideas on unique products. These two elements are essential in being successful in their respective businesses.
Entrepreneurs should avoid venturing into a saturated sector, where too many other businesses offer the same product or services in the same place, where the opportunity for income maximisation reduces, he added.
The PM defined a successful entrepreneur as one who can think of something that others have not.
He also said that instilling a culture of innovation among Malaysians was a big challenge. However, it is innovation that will make Malaysia stand out above the rest.
He also urged Malaysians to steer away from just being a salaried worker and venture into entrepreneurship in order to create more wealth. Malaysians will be able to create bigger wealth if they venture into entrepreneurship. It is better to think of wanting to create jobs rather than wanting to find jobs, said the PM.
In line with that, he assured that the Government would continue to support rural development and small-medium entrepreneurs (SMEs). The rural development agenda and the development of rural SMEs are top priorities of the Government – despite the global economic slump, weakening currency and drop in country earnings.
He said the contribution of SMEs to Malaysia’s Gross Domestic Product (GDP) in 2014 was RM262.9bil which was expected to continue growing in 2015, with an estimated contribution of 35% to the GDP, 59% of employment and 19% of exports.