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Challenges for Gen-Y

Business Blockers

 

Our 2010 census statistics say that population of Indian Malaysian in the country is about 7.2%. The Gen-Y whom generally categorized from the age of 10 – 30 is the biggest chunk of the entire population. The Indian Malaysian who have completed their studies or in the age group to work or to start a business is estimated at 360,000. We don’t have to go into further detail on the percentage of people who have completed school or dropouts. Their only goal is to get a good job or start a new business and earn comfortably without any issues. iTimes.my is focusing on the challenges these Gen-Y is facing to start and run their own business.

Their common question what, how, when and where to start a business. The real issue we need to look into being a business registration. It could be an enterprise or private limited company, but many still do not know about the differences between these two. Apart from that, they are also confused on where to register their business. The fixed operating expenses for each type of business is also a stranger to them. Some don’t even know where to gather all this information. The sad part of all is, they didn’t even know why they need to know all this information in the first place. How could the they progress to the next level if they’re beginning is this pathetic? Its well known a common practice for Indian Malaysians run businesses without registering them officially. These types of basic information are one of the major blocks for the Indian Malaysians to start their own business.

iTimes.my team this time surveyed some of the traders in famous Deepavali shopping festivals around Klang Valley. The bigger part of them expressed as above. Let’s see what are the other type of comments we received from others.

“I’ve bought a house and a car which I can use for personal and business usage. I used all my savings and some borrowing from here and there. However, paying their dues on time is the biggest headache for me. If there are any other unexpected expenses for that month, then I’ll be in big problem. I’ve to get some personal loans from people i know. All the income generated from my business is just enough to cover the expenses. Sometimes I’ve to take the loan over the loan and continuously in loan forever. Not only business people, many working class people also facing the same problem,” said 28 year old Nitharshan who is having his temporary stall in Klang.

“One of the biggest let down, we have is our attitude. Many of the Indian business owners or entrepreneurs do not have the attitude to be successful. Self confidence and never give up attitude is the most important quality need to be possessed by each and every entrepreneur. From my observation, I can’t see those qualities in most of the traders here. They need to read a lot. I still read many business books. That’s the reason I can speak and do business at this level. I’ve left my job and now doing this business fully” said the optimistic graduated youngster, Naveen, who is selling Kacang Putih and other cookies at Shah Alam Deepavali Carvinal.

“I’ve been doing this business for several years now. But my big portion of business coming from the seasonal celebrations only. Or else, I need to invest some amount in advertising to get better business. That will be the same story even if I get my stock from the same brand or different brand. I not sure why people not buying. Sometimes the advertisement will not be effective at all. That’s also a big puzzle for me. My income from my business is just enough to feed me and cover the basic expenses monthly, ” said Ms. Pavithra who rented a unit in Bukit Jalil Deepavali Shopping Festival and selling women’s clothing dissappointetly.

Apart from the major comments, some said that being Indian itself is a disadvantage for them. The Indians are competing with each other in the 7 person market. We are not focusing on providing goods or services to attract other races. Even if we have, we can’t get the support from them. Sometimes, we have to go through some campaigns to support to buy products from their ethnicity only. That was another major complaint.

When we approach some business organisations and NGO’s we have been overlooked by them because of the internal politics in the organisation itself. We don’t know when this will end said some of the frustrated traders.

Our ancestors have been known for being trade experts. We should not forget that. We must continuously try all the ways we can find in making the business successful. A tree need fertilizer to grow, for a man to grow, knowledge is important. When people try to achieve that, they will succeed in business or in fact any other endeavor.

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