Entrepreneurship In Malaysia

CHAPTER 1: INTRODUCTION

1.0) Introduction

The main intention of this research study is to discover the entrepreneurial intention among UMK’s undergraduate students in Faculty of Hospitality, Tourism and Wellness. Basically, this chapter consists of background of the study, problem statement, research questions, research objective, significance of this study, chapter summary.

1.1) Background of study

The closest issue that always is connected to the university students is unemployment issue. This is because, after the university students had finished their study, they surely expect to apply a job. As the result, many academician and government agency had tried to address this global issue among graduated students. According to them, by creating

This shows that Malaysia experienced the reduction on the percentage of early-stage entrepreneurship from year 2014 until 2015. Furthermore, an organization known as IMD had proved that high unemployment rate will give the influence in the country’s incompetency. They found that Malaysia’s competitive ranking around the world has dropped from 10th place in 2010 to 16th place in 2011 during the announcement related to the result of 2011 World Competitiveness Rankings and also the result of the “Government Efficiency Gap” on

The entrepreneurial orientation programs concentrated on encouraging local entrepreneurial talent and growth of local companies. These programs are very beneficial to create jobs and increase economic value to rural areas.

Generally, there are a few biggest enablers of entrepreneurship in Malaysia. Firstly is a good finance opportunity. Secondly is the availability of enhanced government programs. Thirdly is resilient internal market dynamics. Next is commercial services and physical infrastructure.

All of these positive reinforcement and encouragement factors had providing young entrepreneurs with good opportunities to become more active in doing their business. In contrast, the key constraints are the lack of entrepreneurial education in primary and secondary schools, national rules and regulations that including the taxes and bureaucracy, poor research and development (R&D) transfer and inactive of market openness. As the result, the innovative and technology ventures will be affected. Likewise, businesses started typically lack of sustainability and profitability due to a lack of entrepreneurial abilities and skills make the entrepreneurship become stagnant and eventually becoming