Youth Entrepreneurship Characteristics And Challenges Faced By Youth Entrepreneurs In Malaysia
The purpose of this report is to make an article review on Malaysian Journal of Youth Studies that is Youth Entrepreneurship Characteristics and Challenges Faced by Youth Entrepreneurs in Malaysia. The reason why I select this journal to review is that we have been asked to find an article or journal that related to entrepreneurship. After been asked to find an article or journal that related to entrepreneurship, I am interested with the journal that I found that is Youth Entrepreneurship Characteristics and Challenges Faced by Youth Entrepreneurs in Malaysia. This is because, me myself is consider as a youth so I found that this journal is very interesting because it related to youth as entrepreneurship.
We already inform that young generation nowadays is an important asset to the economic development of our country Malaysia. According to Malay Mail online, the Malaysia former prime minister Tun Dr. Mahathir Mohamad said that the young generation are very important to continue Malaysia’s vision in the future. This is because young generation possess a strong vitality that is necessary for economic development. They do still have the power, mentally and physically, at a young age. Yet there are still many youths do not know that they are important and waste their life.
According to Malay Mail online, the youth unemployment rate in Malaysia, currently at 10.9%, is more than three times the national average of 3.3% and has been rising steadily over the last decade. Due to this problem, government has call out young generation to involve in self-employment in the form of entrepreneurial ventures. If many youths involve in entrepreneurship this will help government to increase the economy of our country and help reduce unemployment problem among youth in Malaysia.
Entrepreneurship has been seen as the ‘magic bullet’ for relieving youth unemployment but actually entrepreneurship is about creating new start-ups based on an invention source which is extremely risky. Even though entrepreneurship is extremely risky, but there are few youths in Malaysia has proved that they can be successful as an entrepreneur. For example, one of the popular entrepreneurs in Malaysia is Datin Vivy Yusof. Datin Vivy Sofinas Yusof is an entrepreneur from Malaysia and co-founder of FashionValet and The dUCk Company. FashionValet is a joint venture between Datin Vivy and her husband, Fadzarudin Anuar. Her product has grown worldwide not just in our country, but also to the Asian and European region. She is one of the Malaysia entrepreneurs that shows that we can if we try.
Finding And Discussion
The journal that I review is about Youth Entrepreneurship Characteristics and Challenges Faced by Youth Entrepreneurs in Malaysia. Through my review, the purpose of this journal is to inform us as a reader the characteristics and challenges that faced by youth as an entrepreneur. This journal also makes us realize that there are many youths still lack of knowledge about entrepreneurship. The authors of the journal believe that more awareness about youth entrepreneurship is required to include policy information in order to devise successful plans and initiatives for youth entrepreneurship advancement in order to enhance socio-economic growth. Based on what the author of journal has stated, I agreed that we should create an awareness among youth in Malaysia to involve in entrepreneurship. This is because, entrepreneurs fuel creativity, sustainable prosperity and are keen to bring about positive change in our communities in Malaysia. If many youths involve in entrepreneurship, the number of unemployment among youth also will decrease. This will indirectly help government to improve our economic and help in economic growth in Malaysia because there will be no issues about unemployment among youth.
From the journal, one of the idea or information that have been communicated is individual awareness and familiarity with the concept of entrepreneurship and the general reputation, acceptance and credibility of entrepreneurs in society also legitimately encourage or restrain entrepreneurial behavior. Based on the information that have been stated by the author of the journal, by creating awareness about entrepreneurships among youth is vital nowadays. This is because, there are to many youths just stay at home and not working or in other words, they are unemployed. The government should expose youth to involve in entrepreneurship because it can help to improve our economic and help themselves as well. If many youths unemployed, it may cause a problem to our country. Many youths scared to try or to involve in entrepreneurship because they scared, they will be failed. But in my opinion, failure is not the end, it is an opportunity to learn. As a young generation, we should not easily give up and we should keep trying. From the journal, the author has state that there are three categories of entrepreneurial characteristics that are personal, social and business. There are many challenges that has been faced by the youth entrepreneurship stated on the journal such as lack of personal savings and resources, lack of securities and credibility, lack of business experience and skills, lack of knowledge, understanding, awareness of start-up financing possibilities, and lack of business connections and many more.
For the journal that I review, the methods that have been used by the author are quantitative and qualitative approaches were combined. Besides that, the main observational groups were professional businessmen working between the ages of 18-40. Any sort of youth-built business sector, regardless of gender and ethnicity, has been the focus of the analysis. There was also no statistical sampling frame for the journal as purposive and snowballing sampling methods were used for practical reasons and the author stated that sampling methods were most suitable because they able to select the youths who were at times difficult to locate and uncooperative to them. From the research of the journal, the basic finding that I think is finding on business characteristic such as the importance of technology and employee size.
In my opinion, the journal is very useful especially for youth that interested to involve in entrepreneurship. This is because the journal has stated the characteristics of the entrepreneurship and the challenges that they faced. By reading this journal, some youth will know they tend to entrepreneurship or not because there are many characteristics has been stated in the finding area of the journal. They will know if they are able or not to involve in entrepreneurship. The challenges that has been stated in the journal also will help the youth entrepreneur to prepared for a future. This is because, if they already know what challenges they will faced, they will try to fix it and avoid it.
The strength of the journal is that the journal is full of the information about youth. For the introduction part, there are many information about youth unemployed and how the government overcome this problem by creating awareness to make youth involve in entrepreneurship instead of unemployed. Another strength of the journal is the finding of the journal is from a survey of 531 male and female youths in Klang Valley. This survey from the youth itself has help to make the journal become more dependable as a references and guides.
Meanwhile the weakness of the journal is that, the journal is too long. The information somehow quite makes me as a reader confuse especially in finding area of the journal. Not only that, there is some difficult terms been used in the journal make me use google translation to know the meaning.