Training, Mentorship & Financing Access Strengthen Competitiveness Of Youth Entrepreneurs
KUCHING: Continuous support through training, mentorship, access to financing, and market opportunities are vital steps in strengthening the capacity of Sarawak youth entrepreneurs to expand their businesses and enhance competitiveness.
Deputy Minister for Youth, Sports and Entrepreneur Development Datuk Dr Ripin Lamat said this approach is important to help the group build a stronger business foundation, particularly in planning, financial management, and market expansion.
“These factors are usually interconnected. Therefore, continuous support through training, mentorship, access to financing, and market opportunities is essential to help youth entrepreneurs overcome these challenges,” he said.
He said this when responding to a question from Lingga Assemblywoman Dayang Noorazah Awang Sohor at the 19th Sarawak Legislative Assembly (DUN) Sitting here on Friday.
He added that among the primary challenges faced by youth entrepreneurs are shortcomings in business planning, financial management, and cash flow, alongside a lack of experience and skills to scale their enterprises.
He noted that difficulties in securing financing, penetrating markets, and establishing business networks are also constraints that need to be addressed to ensure their ventures remain viable.
At the same time, Datuk Dr Ripin explained that mastery of technology and digital marketing must be enhanced to enable youth entrepreneurs to capitalize on new economic opportunities and adapt their businesses to market trends.
“In addition, youth are inconsistent in following up and adapting their businesses to changing market demands,” he elaborated further.
Accordingly, he emphasised the importance of sustained support and entrepreneurial upskilling to help youth entrepreneurs overcome obstacles, reinforce business management, and build more sustainable and competitive enterprises. — UKASnews
