Fear of failure holds back B40 in business, says minister

Entrepreneur Development Minister Mohd Redzuan Yusof says people in the B40 group lack confidence.

JASIN: Lack of confidence in their own capability is among the reasons that those in the low-income (B40) group are reluctant to become entrepreneurs, said Entrepreneur Development Minister Redzuan Yusof.

They were often worried of failure to compete with other entrepreneurs in the market during the early stage of business, he said.

“We (the ministry) are always encouraging the Malays, especially those from the B40 group, to muster the courage to come forward and be creative, providing them with both opportunities and space to help them kick-start their business.

“But today, I see that most of them come only seeking money although the ministry has opened up many avenues for starting a business,” he told reporters after the Ihya’ Ramadan ceremony at a mosque here tonight.

Redzuan, who is also the Alor Gajah MP, said apart from lacking self-confidence, the B40 group was also seen as being less informed on available ways to start a business.

In addition to the B40 group, he also urged the youths to be brave in submitting proposals to the ministry that would create opportunities for them to engage in entrepreneurship.

The government, he said, remained committed to finding ways to ensure the group was not marginalised and left behind in terms of income, in line with the goal of developing an entrepreneurial nation.