International Journal of Engineering and Advanced Technology (IJEAT)
ISSN: 2249 – 8958, Volume-8 Issue-5C, May 2019
604
Published By:
Blue Eyes Intelligence Engineering
& Sciences Publication
Retrieval Number:E10860585C19/2019©BEIESP
DOI: 10.35940/ijeat.E1086.0585C19
ABSTRACT--- The purpose of the study is to explore factors
contributing to the success of women who embarked in
entrepreneurship. The study was conducted on 150 women
entrepreneur in Malaysia by distributing the survey
questionnaire. using convenience sampling. The study found
charisma and friendliness are the most crucial factors
contributes to the success of women entrepreneur while
government support is the least contributing factor. Factor
analysis conducted on success factors of women entrepreneur in
Malaysia categorized the factors into four constructs; Individual
& Social Characteristic, Marketing & Business Support,
Efficient Management and Customer Engagement. The study
found that Customer Engagement Factor contribute the most to
the success of women entrepreneur in Malaysia.
Keywords: Entrepreneur, Entrepreneurship, Success Factors,
Women Entrepreneur.
I. INTRODUCTION
Entrepreneurs are known globally to be the utmost
importance to the economy as many of its main activities act
as economy's engine, enacting and empowering all monetary
action. Entrepreneurs are catalyst agent for expansion and
promotion of economic activities in every scope of
economic life of a country with the introduction of new
combinations, improvise on existing productive resources
and at the same time create job opportunities to the society
(1). The heart of any country’s economy is the entrepreneur
where investment in entrepreneurship provides greater
chance towards an improved economy (2). Entrepreneurs
refers to people who propose in starting business by
organizing, managing and taking risk (3). Entrepreneurship
has been acknowledged as one of the crucial aspects for
many developing countries and is the engine of economic
development in the past years as well as the foreseeable
future. Entrepreneurship refers to indi vidual’s ability in
identifying and discovering opportunity which gives benefit
to the society (4). Entrepreneurship involved the creation of
something new with added value by putting extra effort and
time which comes with financial and social risks resulted in
monetary rewards monetary and personal satisfaction (5)
while (6) described entrepreneurship involves discover,
evaluate and exploit opportunities with the intention to
develop and come out with new goods and services.
Revised Manuscript Received on April 19, 2019.
Azlin Shafinaz Arshad, Malaysian Academy of SME &
Entrepreneurship Development, Universiti Teknologi MARA, Malaysia.
Marziah Mokhtar, Centre of Foundation Studies, Universiti Teknologi
MARA, Malaysia.
Afiza Azura Arshad, Faculty of Business Management, Universiti
Teknologi MARA, Malaysia.
Arlinah Abdul Rashid, Arshad Ayub Graduate Business School,
Universiti Teknologi MARA, Malaysia.
Entrepreneurship has been acknowledged as engine for
economic development and is a catalytic agent especially in
expanding and promoting for business activities all over the
world (4). This is supported where entrepreneurship is
among the core areas for any country’s economy (7).
The importance of entrepreneurial activities cannot be
denied as entrepreneurial activities are recognized as among
the crucial sources for economic growth and employment
opportunities for many nations (8). Although many
researchers have put much effort to study entrepreneurship
in Malaysia, not many studies focused into women (9-11).
Hence, this study aim to explore factors that contribute to
the success of women entrepreneurs in Malaysia. Studying
factors which have an influence towards women
entrepreneur success allows others to have a broader
understanding of how to ensure the business success (12). In
addition, this study will assist women entrepreneurs to
expand their business globally.
II. LITERATURE REVIEW
Although several studies on the success factors of women
entrepreneur around the world has been undertaken, studies
on women entrepreneur in Malaysia are still insufficient.
Some of the factors that were found influencing women
entrepreneur success are human capital, networking,
financial assistance and opportunity. (13) focuses on
characteristics such need for achievement, risk taking, self-
confidence and creative and innovative that lead to women
entrepreneur success while (14) looked into risk-taking,
innovativeness and entrepreneurial competencies of women
entrepreneur itself as contributor factors to success.
Women entrepreneurs in ASEAN countries are on the rise
and many studies were conducted in ASEAN countries to
find the motives behind the success of women
entrepreneurs. An empirical study in Singapore revealed the
reasons that inspire women to own a business and found
higher need for achievement, higher need for dominance and
moderate needs for affiliation and autonomy are among the
success factors (15). Study on women entrepreneurs in
Quang Tri Province, Central Vietnam discovered women
business owner success is due to the values they possessed
and their insights towards entrepreneurship (16). Study
conducted in Indonesia on motivation of entrepreneurs
found family members influences and their participation do
have an impact towards their business success (17) while
another study found among the challenges of women
Exploring Factors Contributing to the Success
of Women Entrepreneurs in Malaysia
Azlin Shafinaz Arshad, Marziah Mokhtar, Afiza Azura Arshad, Arlinah Abdul Rashid