EMPOWERMENT OF BUMIPUTERA ENTREPRENEURS IN POLYCRISIS.

EMPOWERMENT OF BUMIPUTERA ENTREPRENEURS IN POLYCRISIS. | The World Economic Forum’s Global Risks Report 2023 uses the term, to explain how “present and future risks can also interact with each other to form a ‘polycrisis’ – a cluster of related global risks with compounding effects, such that the overall impact exceeds the sum of each part”.

 

Experts said that “We're living in a world right now where what's scientifically necessary, and what is politically expedient don't match.” The polycrisis issue is affecting the world and as in Malaysia, the current political crisis has been and is pressing many small and medium enterprises (SMEs) even causing sales to collapse until someone closes the business.

CHALLENGES FOR BUMIPUTERA ENTREPRENEURS DURING POLYCRISIS

The president of the Malaysian Malay Chamber of Commerce (DPMM), Norsyahrin Hamidon said, polycrisis raised by entrepreneur mentor, Datuk Wira Dr. Azizan Osman is right on its time for entrepreneurs to realize that the challenges facing them are greater because there are many factors include: technological disruption, trade liberalization and also increasing enterprise input costs including labor and employee costs.

He said, in Malaysia about 60 percent of SMEs fail within five years of establishment, according to an article in the ASEAN Entrepreneurship Journal published on August 7.

 

"Six out of 10 SMEs face challenges related to growth. Entrepreneurs are facing many challenges at the moment with the increase in the price of goods, lack of supply of raw materials plus loan rates at banks cause costs the operation of a business is increasing," he said.

Memorandum of Understanding between DPMM and RichWorks International Sdn. Bhd. (RichWorks) 

He said this when the Council Signed the Joint Venture Memorandum of Understanding between DPMM and RichWorks International Sdn. Bhd. (RichWorks) represented by Norsyahrin together Dr. Azizan is also the Chairman of RichWorks.

Also present, Secretary General, Ahmad Yazid Othman; RichWorks Executive Director, Hasnita Ahmad and Chief Business Officer, Radz Mohd.

President of the Malaysian Malay Chamber of Commerce (DPMM), Norsyahrin Hamidon

Norsyahrin added, the current pressure on the entrepreneur requires change and

the right step in ensuring that no entrepreneur drops out and fails.

"I believe in collaboration with RichWorks who are experienced in guiding SME entrepreneurs will help members of the Malay House to be more dynamic and capable grow (scale-up) in the field they engage in."

"We believe in all collaborations with experts like RichWorks and agencies the government will help achieve the desire to build a Bumiputera economic society (BCIC) that has more potential."

Meanwhile, Dr. Azizan said, entrepreneurs currently have no other option to increase knowledge, skills and strategies to face polycrisis which is expected to be prolonged. He said, this polycrisis is real and not raised to scare the public

especially entrepreneurs.

"What's more, the results of discussions in the World Economic Forum (WEF) in Davos, Switzerland expect the economic situation to be worse this September. 

"I hope this doesn't happen, but what if it happens? As an 80-year-old entrepreneur percentage of success actually comes from their preparation," he explained.

Accordingly, Azizan said, RichWorks took the initiative to launch a program that

helping entrepreneurs in providing direct solutions to problems face in 10X Build a Successful Business from September 2 & 3.

READ HERE : Bina Bisnes Berjaya 2021

Commenting on the memorandum of understanding with DPMM, he appreciated

DPMM's invitation to collaborate with one precise goal which is to develop and

empower Malay and Bumiputera, entrepreneurs.

"Alhamdulillah, through our experience and expertise starting in 2008 which proved to be successful spawned thousands of local brands and millionaire entrepreneurs. 

"We will share the expertise and experience available to help in the effort to bring businesses to a higher level," he explained.

All Bumiputera entrepreneurs are invited to join and be members of DPMM and all members are also entitled to join the Bina Bisnes Berjaya event for FREE this 2 & 3 September 2023. Do grab this golden opportunity to grow and sustain your business.

ABOUT RICHWORKS.

RichWorks International Sdn. Bhd. is an entrepreneurial training and guidance company the largest in Malaysia that is holistic, especially in the field of branding and marketing,leadership and finance.

Since 2008, RichWorks has trained more than 10,000 companies through Master Coach AzizanOsman and attracts more than 1,500,000 participants in more than 1,500 events and seminars live and online (virtual online). With a proven track record, business strategy and mentoring program, RichWorks has successfully helped build thousands of entrepreneurs and successful millionaires within 6-24 months.

RichWorks' vision is to become the 'Netflix' of Entrepreneur Education with 100 million subscribers by 2025 with easy access to result-oriented content and solutions trusted online platform – www.RichWorks.com to Inspire, Educate & Add

Value to communities around the world.