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Latest News

Future of Gen-Y

Business Associations

 

There are thousands of NGOs, Social Service Society’s, business associations and trade chambers registered in Malaysia. Many of these bodies have Indians as members and many more fully handled by Indians alone. Our focus today is to provide a brief explanation on the roles and responsibilities of these bodies.

Social related societies focuses their activities for social causes such as education, job opportunities, social issues and religion. A trade association or a business chamber focuses only on the business aspects of its members and other business associates. Some trade chambers only focus on one type of business while some include all types of business. There are some government departments and other government related bodies were setup to help young entrepreneurs to start a successfull business. With this explanation we interviewed some aspiring entrepreneurs and their voices are as below.

“ I got this idea to get into the business just last year. I’m collecting all the information required from Internet, my father and his friends who have experience in this business. I got to know about these associations after you mentioned about this. Probably I can contact them for further details to start my business.” said Naresh who wanted to venture into construction consulting business.

“I’ve heard about these NGOs. But not sure where they are located. I’ve contacted some government bodies and a trade association where a relative of mine is a member. They provide proper and accurate information which is very helpful for me to start a business. I’ve a business plan which I’ve written. Hopefully I can start the business next month” said Ms.Vilashini with confident.

“I know about these associations. All the while I was thinking it was only for the registered business owners who is currently running a business. Now only I understand that, they also can help in starting up a business. I’ll try to contact them the soonest” said Krish who is planning to start a small restaurant.

“I’ve registered an IT business last year, but yet to start a business. I’ve registered the business in 2 business chambers. I’m attending all their business networking sessions. I’ve received some enquiries after attending the sessions. I’ve started to work on them. There is also a government related organisation which provides entrepreneur training every month. I’m attending the training without fail. Some societies are running awareness and motivation courses too. I tried to attend all business related trainings be it by Indian or non-Indian whenever I can. I prefer to learn more as it will help me to overcome the challenges before starting the business as fulltime. That’s my plan commented Mahesh from Dato Keramat.

From the information gathered via these interviews, it is concluded that, the Gen-Y is not informed about where to get business related information from. Eventhough there are a lot of business related organisations, we must ensure the information is passed to the youths correctly. The NGOs also must actively organise more entrepreneurial related activities.

When this information reaches GenY, they will be able to process the information they received and venture themselves into business. The youths also must take this into their consideration and focus to achieve greater heights in business and be very successful in their life.

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