Business Success Factors of SMEs in Malaysia: An Empirical Study (Book Chapter)
Small and Medium-sized Enterprises (SMEs) contribute significantly to the Malaysian economy, in terms of productivity (GDP), employment, and economic growth. Thus, to ensure the sustainability of SMEs, the success and growth of businesses must be studied by identifying key factors of business success. Therefore, this chapter identifies the background of SMEs in Malaysia and provides implications of the requirements for the success and use of SMEs in various fields. Emphasis was placed on financial challenges, external challenges, accessibility to financial capital, accessibility to Islamic finance, and Knowledge Skills Challenges. The survey was conducted using a structured questionnaire that included questions about their initial, current, and future use of 11 various sources of funding and access to these resources, as well as the various challenges that SMEs face. Data collected from 344 respondents were analyzed using descriptive and inferential statistics using the Statistical Package for the Social Sciences (SPSS). After the reliability test, five variables were adopted and the variable “Technological Improvement Challenges” was deleted. The multiple regression analysis was implemented to ascertain the relationship between the variables and the degree of statistical significance. The study found that all reliable study variables have a positive relationship with SMEs’ business success, but only three are significant while the two variables have no statistical significance. The chapter finally provides recommendations to various stakeholders.
Keywords: SMEs, business success, financial challenges, external challenges, accessibility to Financial capital, accessibility to Islamic finance, and Knowledge Skills’ Challenges.
Cross Border SMEs: Malaysia Indonesia, Chapter 3
Editor MOHA ASRI ABDULLAH, RIZAL YAYA, DZULJASTRI ABDULRAZAK
Design JOKO SUPRIYANTOUMY PRESS, May 2020
UMY Press, Universitas Muhammadiyah Yogyakarta
Jalan Brawijaya, Tamantirto, Kasihan, Bantul, Yogyakarta 55183Telpon : +62.274-387656 pesawat 159
Cross Border SMEs: Malaysia IndonesiaEditor Moha Asri Abdullah, Rizal Yaya, Dzuljastri Abdul Razak,16,5 x 24 cm, XII + 284 hlmYogyakarta, UMY PRESS 2019
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