Issues and Challenges among Young Entrepreneurs in Malaysia

Abstract

The involvement of young entrepreneurs has increase by 30 per cent from the total of 2.6 million entrepreneurs in 2014. This is due to the Malaysian government policy, continuous encouragement, increasing incentive and intervention strategies to develop this group of entrepreneur. However, in spite of all the supports, the percentage of failures among young entrepreneurs is still very frightening. Studies found that, there are only 20% of entrepreneurs survives and successful every year. In reality, they must have their own capabilities and it is depending on how they manage their business resources to success. Meanwhile, young entrepreneurs also need to noticed that it necessity for them to links with environment in order to strengthen access to markets and resources management. Hence, a thorough understanding of how youth entrepreneurs utilize their resources, thus how they bring contacts is important, because this will lead to the development of new tools, such as (1) tools for business to improve their innovation and growth processes and, (2) tools for governments to develop new policies to support and direct economic growth