Become Your Own Boss

PUTRAJAYA: Fresh graduates are urged be their own boss or join entrepreneurship programmes.

Deputy Youth and Sports Minister Datuk Liow Tiong Lai said they should not be contented doing part-time jobs while waiting to join the government or private sector.

This may explain why about 35% of local graduates are unemployed, he said.

“If they cannot get the jobs they want, they are willing to wait and get part-time jobs.

“Some graduates even have two or three part-time jobs, each earning around RM500 to RM600,” he said after launching the Malaysian Independent Business Ownership-Graduan Outreach Programme at his office yesterday.

Liow was commenting on a statement by Higher Education Department director-general Datuk Prof Dr Hassan Said that some 35% of graduates were still unemployed six months after convocation.

On another matter, Liow said the Youth Economic Promotion Council, which gave out loans to those who wanted to set up their own businesses, received close to 30,700 applications for its RM40mil fund.

On the programme, Liow said it was to put youths on the path to entrepreneurship by giving them coaching and training in drawing up viable business plans and helping them to secure loans.

“Youths can tap into a fund worth RM100mil, which is loaned to them at the Base Lending Rate plus 1%.

“Using these loans, they can then sell products such as mobile phone lines, broadband services, credit cards and computer products.

“In fact, we find that mentoring is extremely important for young entrepreneurs.

“In the old days, youths can afford to try several times before succeeding in their own businesses.

But in this fast-paced age, they can no longer afford to do that,” Chong said.