Abstract: This research focuses on micro-enterprise of
Malaysian Malays that are involved in very small-scaled business
activities. Among them include food stall and burger stall operators,
night market hawkers, grocery store operators as well as construction
and small service activities works. The study seeks to explore why
some micro-entrepreneurs still lag in entrepreneurship and what
needs to be rectified. This quantitative study is conducted on 173
Malay micro-enterprise owners (MEOs) and 58 Malay failed microenterprise
owners (FMEOs) involved in all range of businesses
throughout the state of Perak, Malaysia. The main aims are to
identify the gaps between the failed micro-enterprise owners
(FMEOs) and existing micro-enterprise owners (MEOs) and the
problems faced among FMEOs. The results reveal that the MEOs had
strong motivations and better marketing approaches as compared to
FMEOs. Furthermore, the FMEOs failed in the business ventures
mainly due to lack of management, sales and marketing skills and
poor competitive abilities to keep up with rivals.
Abstract: The majority of micro-entrepreneurs in Malaysia
operate very small-scaled business activities such as food stalls,
burger stalls, night market hawkers, grocery stores, constructions,
rubber and oil palm small holders, and other agro-based services and
activities. Why are they venturing into entrepreneurship - is it for
survival, out of interest or due to encouragement and assistance from
the local government? And why is it that some micro-entrepreneurs
are lagging behind in entrepreneurship, and what do they need to
rectify this situation so that they are able to progress further?
Furthermore, what are the skills that the micro entrepreneurs should
developed to transform them into successful micro-enterprises and
become small and medium-sized enterprises (SME)? This paper
proposes a 7-Step approach that can serve as a basis for identification
of critical entrepreneurial success factors that enable policy makers,
practitioners, consultants, training managers and other agencies in
developing tools to assist micro business owners. This paper also
highlights the experience of one of the successful companies in
Malaysia that has transformed from micro-enterprise to become a
large organization in less than 10 years.