KUALA LUMPUR: Youths should not see entrepreneurship as a last resort after failing to find a job in the employment market. Entrepreneurship, should be a choice for Malaysian youths as there are ample opportunities in the country.

The government has been promoting entrepreneurial culture among the younger generation as young entrepreneurs are bolder in taking risks and they contribute fresh ideas.

International Malaysian Chamber of Commerce Ltd (IMCC) president Agil Faisal Ahmad Fadzil observed that youths tend to pursue entrepreneurship when they fail to get paid jobs. 

However, if the entrepreneurial spirit is inculcated among the young, they would be able to leverage on emerging and new business opportunities.

"Young people are more daring ... they come with more innovations and ideas.

"Malaysia is in the midst of promoting innovative economy where all the future businesses should be based on knowledge and creati-vity," Agil told Business Times in an interview last week.

Agil said youths should also be aware that to become an entrepreneur, one has to work hard and be smart in order to be a market leader.

Meanwhile, SME Corp Malaysia deputy chief executive officer for coordination and development Mahdi Mohd Arifin said the next wave of business will necessitate closer cooperation among economies.

"This will provide opportunity for young entrepreneurs and new business start-ups to form the building blocks of base industries and promote trade and investment cross flows in the Asia Pacific," he said.

Mahdi said business prospects and opportunities are the focus of the upcoming Apec (Asia Pacific Economic Cooperation) Young Entrepreneurs' Summit 2011 (Apec-YES).

Themed "Unlocking Economic Value through Innovation", the summit intends to develop and nurture entrepreneurship and promote the development of new business establishments within Apec economies. 

The event is expected to draw more than 300 participants and exhibitors from 21 countries.

"There will be 22 speakers from Australia, Brunei, South Korea, Hong Kong, China, Mexico, Vietnam and other countries," he said.

The speakers include International Trade and Industry Minister Datuk Seri Mustapa Mohamed, his deputy Datuk Mukhriz Mahathir, Minister in the Prime Minister's Department Datuk Seri Idris Jala and AirAsia Bhd chief executive officer Tan Sri Tony Fernandes.

The three-day event is scheduled to start on October 18 in Kuala Lumpur.

Mahdi said Apec-YES aims at enabling young entrepreneurs and new business start-ups to network with relevant business people and organisations as well as sharing of ideas to leverage on their skills, expertise and technical knowledge.

"With the changing economic landscape and technological advancement, it is imperative that young entrepreneurs are equipped with the necessary skills and exposed to new business environment, innovation as well as sustainable business practices," he said.

The event will also create cooperation and mutual support atmosphere as well as identify potential business opportunities through networking between business leaders and peers from different trades. 

It will also identify pertinent issues that need to be addressed to create the enabling environment for developing potential entrepreneurs and small and medium enterprises in Apec economies.

A business showcase will also be held concurrently to allow entrepreneurs to showcase their products and services as well as provide them the opportunity to interact with the exhibitors and potential business partners.