THE creation of a new Ministry of Entrepreneurial Development                                                                                         
is timely                                                                                                                                             
                                                                                                                                                      
For too long efforts at developing entrepreneurs have been                                                                                            
diffused and accorded low priority. The lack of focus has led                                                                                         
to piecemeal approaches and ad hoc, often shotgun, delivery                                                                                           
mechanisms.                                                                                                                                           
                                                                                                                                                      
The relationship between a vibrant entrepreneurial community                                                                                          
and economic prosperity is clearly documented by the spirit of                                                                                        
enterprise which has shaped the overseas Chinese psyche and                                                                                           
the innovative economic adventurism of the United States.                                                                                             
                                                                                                                                                      
Vision 2020 is crafted on the basis of expanding our GDP by                                                                                           
eight times. It cannot be-left to our current business                                                                                                
enterprises, however large they grow, to deliver the material                                                                                         
expectations of development.                                                                                                                          
                                                                                                                                                      
There are institutions already contributing to the                                                                                                    
entrepreneurial development effort. Each institution                                                                                                  
approaches the subject differently and even the Malaysian                                                                                             
International chamber of Commerce and Industry assists by                                                                                             
providing placements for potential bumiputra entrepreneurs.                                                                                           
                                                                                                                                                      
Entrepreneurial development is more than just undergoing a                                                                                            
course of study. The essence of entrepreneurship is the fire                                                                                          
within, the passion to want to create commercial value and I                                                                                          
to be our own boss.                                                                                                                                   
                                                                                                                                                      
But for many of us, the greatest obstacle is the comfort zone                                                                                         
we are used to as we progress in our career, and the mortgage                                                                                         
and other commitments hold us back from taking the plunge.                                                                                            
                                                                                                                                                      
It would often require a precipitating event to catapult a                                                                                            
salaried person to be an entrepreneur.                                                                                                                
                                                                                                                                                      
The potential for building our entrepreneurs is not from the                                                                                          
rank of the salaried. It has to come from the young and the                                                                                           
fire must be lit at an early age.                                                                                                                     
                                                                                                                                                      
If we are to effectively build the Malaysian entrepreneurial                                                                                          
spirit we also need to inspire our youths :to think                                                                                                   
creatively, to want to-do their own thing and to be courageous                                                                                        
to venture into the unknown.                                                                                                                          
                                                                                                                                                      
We certainly hope that the new ministry will endeavour to                                                                                             
produce heroes from our successful emerging entrepreneurs.                                                                                            
                                                                                                                                                      
Lighting the fire is the first phase of the building bloc, for                                                                                        
not every dreamer can be an entrepreneur.                                                                                                             
                                                                                                                                                      
Education can play its role in reinforcing the entrepreneurial                                                                                        
spirit.  There was a time not too long ago when economics was                                                                                         
not part of the school curriculum, now economics and related                                                                                          
subjects are offered. The study of entrepreneurship can also                                                                                          
be part of the school curriculum.                                                                                                                     
                                                                                                                                                      
In Britain, there is a debate on broadening the educational                                                                                           
base to enable science students to benefit from economics or                                                                                          
humanities studies, just as physical science disciplines are                                                                                          
also accessible to arts students.                                                                                                                     
                                                                                                                                                      
Before the 60s, most universities outside of the US had no                                                                                            
provision for management and business studies in the belief                                                                                           
that it was not a legitimate discipline. Nowadays, it would                                                                                           
indeed be hard to find a university which does not offer this                                                                                         
course of study.                                                                                                                                      
                                                                                                                                                      
Management studies have served to professionalise the roles,                                                                                          
responsibilities and performance of management. Because we                                                                                            
urgently need to develop our own entrepreneurs in a hurry, one                                                                                        
route is to "professionalise" entrepreneurship by dedicated                                                                                 
studies in the subject, at least at tertiary level.                                                                                                   
                                                                                                                                                      
But studying management and entrepreneurship is significantly                                                                                         
different. The thrust of management is to -enhance maintenance                                                                                        
work as well as to grow the organisation, while                                                                                                       
entrepreneurship deals with creating a new business.                                                                                                  
                                                                                                                                                      
Applied within a given business, entrepreneurs develop a new                                                                                          
business usually through creating a small business unit.                                                                                              
Managers can, therefore, be developed by experience sharing                                                                                           
and by case analysis.                                                                                                                                 
                                                                                                                                                      
The essential characteristic in entrepreneurial development is                                                                                        
action driven processes, not classroom discourse.                                                                                                     
                                                                                                                                                      
The entrepreneur can, therefore, be best helped through                                                                                               
processes of opportunity identification and selection (often                                                                                          
he has already decided on what he wants to do, in which case                                                                                          
he needs help to establish confidence levels) and through                                                                                             
systematic analysis of the resources that he needs to source                                                                                          
and commit to the enterprise.                                                                                                                         
                                                                                                                                                      
Our help is customised to the extent of assisting in                                                                                                  
developing a business plan. And the plan has to be convincing                                                                                         
to allow him to commence operations.                                                                                                                  
                                                                                                                                                      
The first couple of years of the life of a new venture is                                                                                             
critical.  Many good projects unfortunately, wither because of                                                                                        
the lack of support, because the build-up phase is taking too                                                                                         
long, and because unforeseen circumstances impinge on                                                                                                 
viability.                                                                                                                                            
                                                                                                                                                      
Perhaps some could be saved. What is needed is incubation                                                                                             
support. One form of incubation support is operations through                                                                                         
shared facilities; another is access to mentors or affordable                                                                                         
consultancy support.                                                                                                                                  
                                                                                                                                                      
While entrepreneurs tend to be impatient and want to see                                                                                              
results fast, they have to be realistic to recognise that                                                                                             
their commitment has to be long term and enduring. Nowadays                                                                                           
the manager changes job if he is no longer satisfied with what                                                                                        
he is doing. Not so the entrepreneur-he has invested too much.                                                                                        
                                                                                                                                                      
The ultimate aim of entrepreneurial development has to be                                                                                             
enterprise development. The old paradigm of putting as many                                                                                           
interested potential entrepreneurs through an entrepreneurship                                                                                        
course, often sponsored by government, and hoping that                                                                                                
enterprises will be created, is a shot-gun approach.                                                                                                  
                                                                                                                                                      
Entrepreneurs cannot be created on the assembly line. If we                                                                                           
are seriously concerned with creating new and viable business                                                                                         
enterprises, we have to exercise the discipline and vigour to                                                                                         
customise and fashion the development of each entrepreneur to                                                                                         
meet his own challenge of creating his own enterprise.