Discuss

Discuss entrepreneurship in Malaysia

Entrepreneur is someone who started the business and knows the particulars of business. A person shall not be considered as an entrepreneur if he takes the goods of others and make them popular. Entrepreneur also considered as someone that able to take the risk to start up a business and manage the business. He/she has to bear all the business risks. Usually, entrepreneur is someone that really wants to be independent in their own business, make their own decision, and success with their own effort.

To be success, entrepreneurs have to know the right and latest information about business. He has to know the right way to get all the information from reliable sources. The sources that he can use are such as from government reports, news, and from research done by trusted agencies. All the information is needed to increase the experience they had, to mend the achievement and the performance of their business. Pitts, G. (2008) said that to succeed, entrepreneurs need to develop their own beliefs and ideas and create a viable action plan to move these ideas forward. They cannot just sit without taking any action.

In Malaysia, it can be said that people involved in the business because influenced by family background. For instance, Chinese people are said to have entrepreneurs’ blood flowing in their bodies. They were teaching to involve in business since at age 5 or 6 years. However, Malay people are preferred to work in government or private sector. But the situation has changed. More and more Malays people began to involve in business and has become successful entrepreneurs.

The number of entrepreneurs in Malaysia from 1982 to 2003 was between 1.2 to 1.9 million people (www.statistics.gov.my). However, the number of entrepreneurs experienced a drop stage on 1998 due to inflation. At this time, people are afraid to venture into business because the economy is not stable and join the business is not a prudent action....