I’m writing in reference to the frontpage story published on September 7 regarding Brunei being the 44th most innovative among 49 high-income economies.
It’s a very encouraging achievement but there is a big gap between innovation inputs and outputs (39th and 113th), a difference of 74 spots.
One of the causes of the gap is due to too many designers and initiators but not enough doers. If we could be more practical in our approach to business by improving relationship with other countries, that would be good. Having too many spectators and too few actions won’t bring us to a greater height. In business, we need to be knowledgeable and aware of the demands of the market, be it as a service provider or retail.
On top of it, we need to have tangible assets – buildings, vehicles, machines and or cash. Most businesses find it difficult to fund themselves due to lack of investments from abroad.
One solution may be to sell shares in order to raise funds for a business. But should the business accrue a net loss, it may put shareholders off investing in the company as dividends would be null. Thus, the business owner needs to be well-versed in the management of his or her venture.
The products must be 100 per cent Halal, be it from suppliers of raw materials. It is only then we can propel forward and invite trusted partners to join in on the business.
After all, Brunei Darussalam has its own asset – the educated youth, who are eager to learn and to introduce new ideas into the mix. We should utilise the strength by nurturing them through training and tell them “well done!” or “thank you!” on good performances.