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Small businesses can be the backbone of the economy

by | May 30, 2024 | Business, INTERNATIONAL, LOCAL, NATIONAL, NEWS, Opinions | 0 comments

BY: FARAH AZWANI

In Australia, there are numerous ‘Pop and Mom’ stores operating all over the country, and they account for a large percentage of the share of the economy, and are a key factor for economic growth Down Under.

This remarkable phenomenon can also play a crucial role for small businesses in Malaysia, and the government of the day must take it upon themselves to help support and encourage and spur the growth of these businesses.

While economists debate and discuss over the waning employment market, the rising number of bankruptcies and the dismal state of the economy and the remedies on how to fix these issues, the focus now must shift to helping humble start ups.

With moderate capital, families should be encouraged to pool their resources to start a small business rather than wait in vain to be employed or dream of starting businesses giving huge returns on their investments.

In reality, by learning to help themselves and make that small start in life, small businesses can grow, flourish and thrive beyond expectations like KK Mart and Speedmart just to name a few small enterprises that grew into multi billion dollar businesses.

The sky’s the limit when a person starts a business and through hard work and industry, the use of shrewd practices and acquiring knowhow and expertise, there is no reason why these entrepreneurs should not be able to succeed.

-THE MALAYSIA VOICE

** The views expressed on this opinion is of the writer and not the publisher

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