Daim advises businesses to do market research

SMALL and medium-sized enterprise (SME) entrepreneurs should conduct market research and ensure they had sufficient cash flow before embarking on a business venture, advised Tun Daim Zainuddin.The former Council of Eminent Person chairman said Malay entrepreneurs’ attitude of depending on the government’s assistance had not changed even though the old government system had been done away with.

“Many SME entrepreneurs particularly Malay entrepreneurs are easily satisfied with their level of achievement. History shows this is a Malay problem which is rare among other races in the country.

“They (Malay entrepreneurs) actually are not yet at a level of comfort but they are very satisfied because to them business is just a hobby. Running a business is about making money and upon reaping the profits, we should grow, ” he said after a dialogue with Penang entrepreneurs recently.

Daim who is also former Finance Minister is currently on a nationwide roadshow to share his experiences and provide business insights to the target group.

Daim further advised entrepreneurs to always be prepared to develop their business when the opportunity arises.

“Businesses are not always profitable, sometimes losses occur. This is why we come to meet them, to listen to their problems, to help them and give them guidance on how to succeed.

“SMEs are the main contributors to employment in the country and should be given the appropriate assistance. We need to guide them and show them the way. When they benefit, the country will benefit, ” he said. — Bernama