Entrepreneurs Success Factors and Escalation of Small and Medium-sized Enterprises in Malaysia

Abstract

This research aims to identify the success factors of founding entrepreneurs in Malaysia contributing to their companies' venture growth. Specifically this study was initiated to examine the relationship between venture growth and the following factors, namely personal initiative, human capital, areas of focus on competency and government support programs. From this research, it has been made clear that a large number of entrepreneurs affirmed personal initiative as one of the major key to success. Entrepreneurs with high personal initiative will naturally overcome the disadvantages or weaknesses in them with their self-starting and proactive attitude. The study found that the entrepreneurs' education level, working experience and whether their parents own business have a positive relationship with their success. The research has also provided a clear indication as to which area of competency the entrepreneurs should focus on. On the whole the findings of this study serve as a guideline for founding entrepreneurs to succeed in their attempt to achieve superior venture growth.