How will KBS encourage former athletes and unemployed youths into sports business?

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KBS Encourages Entry into Sports Business for Athletes and Unemployed Youths

The Ministry of Youth and Sports (KBS) is actively promoting the sports industry as a viable avenue for former athletes and unemployed youths to generate income and contribute to national economic growth. This initiative involves drafting a National Sports Industry Action Plan and seeking financial support measures within Budget 2022 to aid businesses affected by the Covid-19 pandemic. Additionally, a new talent identification program aims to discover and nurture young potential athletes from an early age.
National Sports Industry Action Plan Development

KBS is in the process of formulating a National Sports Industry Action Plan. The primary objective of this plan is to establish sports as a significant new contributor to the country's economic development. This strategic document is intended to outline pathways for growth within the sports sector, making it a more robust and profitable industry.
Support for Pandemic-Affected Businesses

Discussions are underway between KBS and the Finance Minister to identify methods for assisting 1,968 sports-related business operators. These businesses have been significantly impacted by the Covid-19 pandemic, and KBS is seeking to facilitate their recovery. The ministry expresses hope that Budget 2022, scheduled for tabling on October 29, will incorporate specific measures to provide this crucial support.
Encouragement for Monetising Athletic Careers

The Minister of Youth and Sports, Datuk Seri Ahmad Faizal Azumu, has explicitly encouraged former athletes to leverage their names and build personal brands within the sports industry. This approach is seen as a direct method for them to generate self-income while also promoting the sports they are associated with. The sentiment is that the sports business sector offers substantial potential for growth and financial reward.
Talent Identification Programme for Grassroots Development

A new initiative, the KPM-KBS MyTID (Talent Identification and Development Programme), has been launched in collaboration with the Ministry of Education. This program aims to identify sporting talents as young as seven years old through a centralized database. Teachers nationwide will input information on students with potential, enabling KBS to quickly locate individuals with specific athletic abilities, such as a student under 12 who can run 100 metres in 12 seconds, thereby fostering talent development from the grassroots level and reducing talent dropout risks.

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How will KBS encourage former athletes and unemployed youths into sports business?

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