Issues and Challenges among Young Entrepreneurs in Malaysia

Ridzwan, Rikinorhakis; Muhammad, Nik Maheran Nik; Rahman, Anis Amira Ab

doi:10.9790/487x-1903028084

Cited by 25 publications

(17 citation statements)

References 12 publications

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“…new business entry in Malaysia has stagnated in the past 10 years and remained lower than the OECD average (OECD Report, 2016). All these are evidences that youth involvement in entrepreneurial activity is not high as expected (Samah, Omar, Bolong and Hassan, 2018).…”

supporting

confidence: 54%

SMEs Financing Issues in Malaysia: Youth Entrepreneurs Perspective

Salim¹,

Kassim²,

Thaker³

2020

theijhss

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Introduction Youth unemployment is regarded as a major issue worldwide including Malaysia. The youth unemployment rate in Malaysia is three times higher than the total population. Unemployment rate among youth can have negative effects on the economy and social landscape if not curbed. It is widely accepted that entrepreneurship is capable to reduce unemployment as well as stimulate economic growth. Youth entrepreneurship may generate employment opportunities for youth, raise income for them and alleviate poverty (Chigunta, 2002). Hence, youth entrepreneurs have been known to play an important role in the process of economic development and guarantee sustainable growth (Sitoula, 2015). Recently, Malaysian government has launched the National Entrepreneurship Policy 2030 (NEP2030) and the Shared Prosperity Vision 2030 (SPV2030) where among the main objectives is to encourage the development of youth entrepreneurs in Malaysia. The government of Malaysia has placed serious emphasis on the development of youth entrepreneurs and considers it a key element in positively contributing to the country's gross domestic product (GDP). The Malaysian government has always provided support to youth entrepreneurs including assisting them in terms of financing, physical infrastructure, and business advisory support through the establishment of various agencies like, the Malaysian Global Innovation and Creativity Centre (MaGIC) and the Graduate Entrepreneurship Fund which were initiated by the government to expand the development of youth entrepreneurs in Malaysia (Nor, Masdek and Maidin 2015). Despite the importance of youth entrepreneurs in the national economy and the considerable support from the government, the results are rather disappointing when the impacts of these extensive support systems are found to be insignificant. This is evidenced by a survey conducted by Khazanah Research Institute (2018) where only 8% of young job seekers are selfemployed. The Graduates Tracer Study (2018) conducted by the Ministry of Higher Education (MoHE) found that there is a total of 170,105 graduates and only 6.5% are self-employed. According to Ridzwan et al., (2017), there are 107,306 cases of bankruptcies among entrepreneurs in Malaysia from January to April 2015, where 948 of them are youth. Furthermore,

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supporting

confidence: 54%

SMEs Financing Issues in Malaysia: Youth Entrepreneurs Perspective

Salim¹,

Kassim²,

Thaker³

2020

theijhss

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“…Previous studies have found that only 20 percent of new start-ups by young entrepreneurs will survive every year. It was found that the high failure rate among start-ups by young entrepreneurs was due to their weaknesses in accessing resources, low level of initial capital, low business market, inability to grow the business and lack of skill to develop business networking with experienced industry players related to their products and services (Ridzwan et al 2017). This failure was also due to their lack of exposure in utilising resources from various sources.…”

Section: Problem Statementmentioning

confidence: 99%

Demographic Factors, Entrepreneurial Munificence And Business Networking And Youth Entrepreneurs’ Success

Mohamad¹

2020

European Proceedings of Social and Behavioural Sciences

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“…Meanwhile in Malaysia, it is said that young entrepreneurs contribute a lot to Malaysian economic development. Young generations, particularly young people, have recently formed a large segment, representing 43 percent of Malaysia's total population (Ridzwan et al, 2017). Chik et al (2015) state that fostering the involvement of young entrepreneurs can be a key contributor to the development of economic growth in Malaysia by looking at youth entrepreneurship as an advocate for the development of social and medium enterprises (SMEs).…”

Section: Literature Reviewmentioning

confidence: 99%

An Analysis of Whatsapp Emoji in Business Interactions between a Malaysian SME and the Turkish Counterparts

Kahar

Habil

2020

LSPI

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Social media usage such as Twitter, Whatsapp, and Instagram are widely used by individuals around the globe. Entrepreneurs are among those who use social media as their platforms in selling and marketing their items. Particularly in WhatsApp communication, there are various functions of emoji in social networking that offer various messaging features. The purposes of this study were to identify the usage of emoji in WhatsApp business interactions and to types of emoji employed among Malaysian Small and Medium enterprises (SME) and his Turkish counterparts. This study used Content Analysis to make interpretations about the emoji found in conversational messages between the entrepreneurs in their business interactions. The findings revealed that the Malaysian participant was more technology savvy when it came to the use of emoji compared to his Turkish business counterparts. Thus, the WhatsApp emoji provides a non-verbal communication and other functions in business interaction. Based on the findings, this study recommends that the use of emoji should be encouraged among entrepreneurs and customers to create a cheerful and customer-friendly atmosphere. Additionally, WhatsApp features should be used by both businesses and consumers to promote business processes and help readers understand the meaning of their communications.

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Issues and Challenges among Young Entrepreneurs in Malaysia

Cited by 25 publications

References 12 publications

SMEs Financing Issues in Malaysia: Youth Entrepreneurs Perspective

SMEs Financing Issues in Malaysia: Youth Entrepreneurs Perspective

Demographic Factors, Entrepreneurial Munificence And Business Networking And Youth Entrepreneurs’ Success

An Analysis of Whatsapp Emoji in Business Interactions between a Malaysian SME and the Turkish Counterparts

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