KUALA LUMPUR, May 16 (Bernama) -- A survey conducted by Regus Plc, the
world's largest provider of flexible workplaces, showed that 90 per cent
of Malaysian entrepreneurs would like to redo their business if given
the chance.
Source from (Bernama): http://www.bernama.com/bernama/v7/bu/newsbusiness.php?id=950197
Published: May 17, 2013
In a statement today, Regus said despite facing serious challenges, the
local small and micro businesses had displayed unwavering
entrepreneurial spirit eventhough some of them might have fallen into
business ownership through redundancy.
"The challenges they face are not new, but they are clearly saying that
little impact has been felt from state support initiatives, despite the
best efforts of government," Regus regional director for Asia Pacific
John Henderson said.
Henderson was referring to the outcome of the survey which blamed the
lack of access to credit (82 per cent) as the biggest deterrent to
setting up a business, followed by red tape or excessive regulation (71
per cent), lack of government support (66 per cent), and market
domination by larger corporations (59 per cent).
Two-fifths of respondents also cited the state of economy as a serious hindrance.
Henderson said the lack of institutional support means that business
owners would continue to increasingly favour flexible working in order
to avoid lengthy leases, freeing up their working capital and
concentrate on growing the business.
"Already globally, more than half of entrepreneurs are using flexible
working locations for most of the week, compared with 39 per cent for
those that do not own their business," he added.
Meanwhile, Bharat Srinivasan, managing director of mobile intelligence
provider, Carrier iQ Inc, said small and medium entreprises (SMEs) are
the engines of growth, accounting for up to 99 per cent of businesses
and 40-50 per cent of gross domestic product.
Globally, 50 per cent of all jobs were generated by the SMEs although
they attracted a small proportion of the overall investment, he said.
"That's why it's usually the entrepreneurial community and SMEs that
generate growth out of an economic downturn, while the big boys (big
corporations) run for cover," he said.
However, he said government support was still needed to maximise the
potential of the SMEs and without it some businesses might be left to
minimise their operations or even worse, ended with winding up.
-- BERNAMA
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