Kota Kinabalu: The Malaysia-China Chamber Of Commerce (MCCC) Sabah has set up a Next Generation Entrepreneur Committee (NGEC) to avoid problems in the family business succession.
The worrisome matter of passing on the torch to an ill-equipped heir is faced by many successful business owners worldwide, according to MCCC Deputy President Datuk Dexter Lau.
“Kids nowadays spend their time glued to their phones. We want to instil in them the values of hard work and productivity. Their parents have worked so hard to get to where they are now.
“Kids will look up an inspirational video of Jack Ma or Jeff Bezos and think they have gotten the ins and outs of business.
“But in reality, you only have five minutes to leave an impression on VIPs in addition to plenty of other skills before even reaching that level which cannot possibly be learned from YouTube,” he said.
Dexter said the NGEC programme for a start targets MCCC members’ children or grandchildren aged 10 to 17 years and is seen as a precursor to the chamber’s Youth Entrepreneurs Committee (YEC).
“It is a platform for them to step out of the comfort zone and gain early exposure apart from sending a message to businessmen all over Sabah to come and join us.
“We want to trigger our children’s interest and understanding ahead of competitors to ensure a smooth takeover of the family business,” he added.
He said thus far, a total of 21 children have signed up with RM30,000 raised for the cause, thanks to five donors from the Chamber, RM10,000 of which were from Dexter himself.
“The kids will be given a hands-on approach to the world of business through camps and corporate visits to various industry sectors, including government agencies.
“They will be able to cultivate skills like perseverance, critical thinking, networking, analytical thinking, money management, problem-solving and teamwork. These skills do not only help in business but also throughout their adult life.
“MCCC Sabah has a diverse background of professionals where the children can take real life inspiration from in order to build ambition.
“The NGEC is the first of its kind for Malaysia and is chaired by Yong Hui Sun with Brian Ho as its Deputy,” Dexter said.
Dexter said MCCC do not congregate to merely lobby for projects from the government.
“We possess advanced dynamics and strive to produce quality players in the industry. I think that way because everyone here is doing well.
“We are thankful for that and whatever we earn will be repurposed back into the local community whenever we can,” he said.
