SMALL and medium-sized enterprise (SME) entrepreneurs should conduct market research and have enough cash flow before starting a business, said former Council of Eminent Person chairman Daim Zainuddin.

He said Malay entrepreneurs’ attitude of depending on government assistance has not changed even though the old government system has 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 that 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 told reporters after a dialogue with Penang entrepreneurs yesterday.

Daim, who is a former finance minister, is currently on a roadshow to share his experiences and business insights. After meeting with entrepreneurs in Kedah, Perak and Penang, he will head to Selangor.

During his one-day working visit to Penang, he visited the Penang Farmer’s Field School at the Bumbong Lima Agricultural Institute in Kepala Batas.

Daim said entrepreneurs should 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.” – Bernama, December 15, 2019.