62% of M’sians want to start their own business

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PETALING JAYA: An entrepreneurship report has shown that 62 per cent of Malaysians want to become entrepreneurs, the third highest out of the 44 countries surveyed.

According to the 2015 Amway Global Entrepreneurship Report released today, this was due to better compatibility of family, leisure time and career.

The report was conducted through in-person and telephone interviews comprising nearly 50,000 men and women aged between 14 and 99, including 1,003 Malaysians aged 15 to 64 from all walks of life.

Although 48 per cent of Malaysians think of starting their own business, only four per cent of them are currently self-employed.

“One of the major reasons for Malaysians not fulfilling their entrepreneurial dreams is due to fear of failure (76 per cent), 34 per cent stated ‘financial burdens up to brankruptcy’ while 33 per cent are concerned about the ‘threat of the economic crisis’,” it said.

To overcome the problem of fear of failure, the coordinator of entrepreneurship in Universiti Putra Malaysia, Dr Mass Hareeza, said the start-ups or young entrepreneurs could participate in short courses offered by some higher education institutions in collaboration with Tekun Nasional or some small and medium-sized enterprises.

“Through the internship programmes or short-courses, they could learn the skills of doing business before they can proceed further,” she said.

She also believed that money was not an issue for the start-ups or young entrepreneurs in Malaysia as they could obtain financial assistance from financial institutions, Tekun or Majlis Amanah Rakyat (Mara).

– BERNAMA