Young Entrepreneurs Urged To Strengthen Business First Before Diversifying

Last update: 26/03/2015

KUALA LUMPUR, March 26 (Bernama) -- Young entrepreneurs should strengthen their business base first before thinking of diversification, Federal Agricultural Marketing Authority chairman Tan Sri Badruddin Amiruldin said.



"Do not be in a hurry to diversify your business, instead improve your products first.



"For example, prompted by your friends' success in information technology, you ventured into the industry, eventually leaving you with a cash flow problem. And you are neither here nor there," he said.



Badruddin, who is also Gagasan Generasi Progresif (GGP) chairman, was speaking to reporters after witnessing the signing of a memorandum understanding between GGP and 15 companies owned by young entrepreneurs here today.



Under the MoU, GGP will help market their products and services through its business network.



The companies are marketing engine oil, clothes, food and beverage, and providing services such as event management, consulting, education, and real estate management.



At the event, GGP also launched a rebranding of its 'Malaysia Hebat' programme which is aimed at raising the stature of local entrepreneurs, especially that of Gen Y locally and abroad.



Through the 'Malaysia Hebat' programme, GGP provides an entrepreneurship training programme to create a Bumiputera business community who are professional, competitive, and independent.



GGP president Zahli Majid said GGP provides assistance to Gen Y, who are keen to do business, including helping them to get funds from government agencies and financial institutions, apart from helping them to export their products and services.



With the advent of the ASEAN Economic Community by year end, Zahli said GGP would forge ties with related associations in the region to open up business opportunities and expand the market for local entrepreneurs.



"However, we have to conduct market research first to ensure that local products meet the standards set in the neighbouring countries," he said.



-- BERNAMA