Entrepreneurship in Malaysia

Only one line is needed to describe the entrepreneurship scene in Malaysia- it is not fairing well.

The primary reason for this in my opinion is due to the lack of exposure to entrepreneurship in schools and universities. How often do you hear a student saying he or she wants to start a business? Everyone wants to take up a professional course like medicine or law and end up as a professional. Social pressure does nothing to help either. The education system does not encourage students to venture out of their comfort zones and do things differently.

Richard Branson said that universities and colleges are warehouses to keep students in his book, “Like a Virgin.” In addition to agreeing with him, I would like to see a change in the syllabus of business courses. Subsequently, our universities should encourage the start-up culture. For instance, a top school like Harvard has an Innovation Lab to encourage and grow businesses that are inspired in dorms or on campus. Even a mid-school like Cardiff University has its enterprise centre to encourage entrepreneurship.

Can the entrepreneurship scene in Malaysia be better? Yes, but there are plenty of steps needed.

Firstly, the start-up culture and enterprising nature is not prevalent yet. This is the first area that needs to be addressed and rectified.

Aspiring entrepreneurs need more support. It is common to see someone with a business idea or a product but he or she doesn`t know how to proceed further. In addition to having enterprise centres in universities, they should also be set up in various states. Business in Wales, a government unit in Cardiff for instance conducts a week long course on start-ups, assigns you a business mentor after that and constantly follow up with your development. There is a lot we can emulate from this system.