REVAMPING SOCIAL ENTREPRENEURSHIP

In Budget 2021, the government will conduct a social enterprise development programme with an allocation of RM20 million to the Malaysian Global Innovation and Creativity Centre (MaGIC) and selected agencies. It is believed that the allocation will further encourage the development of social enterprises, and aid in improving socio-economic welfare and community building.

Unfortunately, social enterprise is still seen traditionally as in the saying “Give a man a fish, and he can eat for a day; teach a man to fish and he will eat for a lifetime.” Therefore, "charities" or "welfare associations" will pop up in their mind if they were to be asked about social enterprises. I would argue, “Give a man the tools and resources to create a fishing business, and his whole village can thrive for generations.” That is the main idea behind social entrepreneurship.