Kuala Lumpur: Four in five women (80%) in Malaysia aspire to be entrepreneurs, higher than the global average of 72%, new survey findings revealed today.
According to the survey that was conducted by the Premier global nutrition company, among the motivations for starting their own business are the desire for a career change (67%), the need to support their family (60%), and the desire to become their own boss (56%).
“The survey uncovered many interesting facts about Malaysian women and their views on entrepreneurship. Based on the results, it can be seen that the need to find alternative sources of income to support their families has become the top motivating factor for entrepreneurship among Malaysian women.
“Women in the nation have a strong desire to start their own business compared to the global average and we see opportunities for Malaysia to actively encourage women entrepreneurship,” said Steven Chin, General Manager/ Director of Herbalife Nutrition Malaysia.
“Given the scale of women who harbour such big dreams, the public and private sectors need to collaborate to provide the opportunities, resources, education and training to support women entrepreneurs. This will empower them to break the glass ceiling and lay the foundation for more inclusive economic growth. Through this, society will be the biggest benefactor from having a new generation of entrepreneurial role models that can pave the way for better opportunities for women in the future,” added Chin.
Financial concerns surrounding entrepreneurship weigh heavy on women’s minds While the survey revealed that four in five women (80%) in Malaysia aspire to be entrepreneurs, only three in five women (66%) have taken actual steps to start their own business. Key barriers that prevent them from doing so include:
• The initial cost to open a business (60%)
• Lack of financing and market knowledge support (55%)
Despite these concerns, the potential to grow their income was the top benefit associated with entrepreneurship by 67% of women in Malaysia, followed by the ability to better support their family (56%) and the potential to earn what they believe they are worth (53%).
Aspiring women entrepreneurs want to become role models for younger women beyond the lure of income, close to nine in 10 (88%) Malaysian women said that a key driver for entrepreneurship is their desire to become a role model for younger women. Additionally, close to seven in 10 (69%) said that they want to help break the glass ceiling for women through their entrepreneurship endeavors.
Overall, four in five women (81%) in Malaysia believe that women have to work harder to be given the same opportunities in the workplace, they also see entrepreneurship as a means to open up new opportunities for other women in the region. -Malaysia World News