In recent years, there has been a significant shift in the perception of entrepreneurs. The global community now boasts over 580 million entrepreneurs, representing a diverse range of entities, from collectives to individuals to enterprises, all of whom make substantial contributions to the global economy. The economic impact of the arts and cultural sectors has also garnered recognition, with Deloitte’s projection that these sectors will account for up to 40 per cent of the global creative economy by 2030.
Entrepreneurs and artists share a dedication to originality and progress. They possess the ability to generate innovative ideas, challenge established norms, and create value in terms of economic prosperity and societal impact.
In Malaysia, where innovation and economic diversification are crucial for achieving national goals, the significance of creative entrepreneurship cannot be overstated. Creating an environment that fosters innovative entrepreneurship is essential, as the capacity to produce original products, services, and solutions is vital for driving Malaysia’s advancement and prosperity. This capacity has the potential to address challenges, tap into untapped opportunities, and contribute to economic growth and job creation.
Creative entrepreneurship extends beyond traditional boundaries, encompassing technology, design, and arts and culture, promoting inclusive development and economic empowerment. It also acts as a driver for innovation and competitiveness on a global level.
In a rapidly advancing digital and globalized world, fostering entrepreneurship in various sectors such as design, entertainment, and digital media can position Malaysia as a hub for groundbreaking ideas, attracting talent and financial investments.
Creativity and entrepreneurship can also play a role in addressing societal issues and enhancing the overall well-being of communities. Initiatives such as community development, social innovation, sustainable design, and environmental conservation are potential areas where creative entrepreneurs can bring about positive change.
To fully harness the potential of creative entrepreneurship, various stakeholders – including the government, private sector, academia, and civil society – must collaborate. Policymakers play a crucial role in creating an environment that nurtures entrepreneurialism, innovation, and creativity. Academic institutions also have a role to play in fostering innovation, critical analysis, and business acumen in young individuals.
Furthermore, the private sector can support creative entrepreneurship through investments, mentorship, and partnerships. By leveraging their knowledge, connections, and resources, corporations can help fuel the growth of innovative enterprises while accessing untapped markets and opportunities.
Creative entrepreneurship in Malaysia transcends economic factors and encompasses environmental, social, and cultural aspects. It has the potential to pave the way towards prosperity, inclusivity, and resilience, allowing every individual to make meaningful contributions and thrive. Therefore, embracing innovation, entrepreneurship, and creativity is essential for creating a promising future for future generations.
– BERNAMA
Ahmad Nizam Che Kasim is affiliated with the Faculty of Business and Communication, Universiti Malaysia Perlis.