Entrepreneurship In Malaysia

by Prof. Dr. Siri Roland Xavier, Asst. Prof. Dr. Noorseha Ayob, Dr. Leilanie Mohd Nor and Prof. Dr. Mohar Yusof

The Global Entrepreneurship Monitor (GEM) Malaysian Report, (2010)


Malaysia‟s TEA rate is fairly low within the efficiency-driven economies. It is the third lowest and share this spot with Romania. However, in comparison with previous years, TEA rate for Malaysia has increased by 0.56% to 4.96% compared to previous year (4.4%). From National Expert Survey (NES), it indicates that Malaysia provides much assistance in terms of infrastructure and funding to encourage more young entrepreneurs especially for small and medium enterprises (SMEs). Now, SMEs are becoming a common form of employment and they tend to be engines of job creation, seedbeds for innovation and entrepreneurship. Malaysia is seen as having only 5% of customers outside Malaysia.

We are behind by almost 20% as compared to countries that hold the highest percentage of TEA with international orientation. But, it is not impossible if the government increase the export of the country by promoting Malaysia‟s tropical fruit and palm oil which has good export potential. There is an is an urgent need for Malaysia to look at its education and training component on entrepreneurship as such mechanisms would spur the economic activities and in turn, create employment growth. At present, entrepreneurship education has become an important curriculum in the higher education institutions in Malaysia (Ismail et al., 2009) and a core subject for any programmes.

On a positive note the number of women entrepreneurs in Malaysia has increased due to the support from many parties such as government, private organizations and international groups. For example, National Association of Women Entrepreneurs of Malaysia (NAWEM) was established with the purpose of harnessing the capabilities and resources of women entrepreneurs. There are plenty of good opportunities in Malaysia for the creation of new firms which have increased considerably in the span of the last five years.

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