The gradual rise of Malay entrepreneurs
From the literature review, empirical research and the case study, the authors have found that the under-representation of Singapore Malays in entrepreneurial activities can be attributed to several factors, most of which are not inherent in the Malay race but due to several historical and...
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Main Authors: | , , |
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Other Authors: | |
Format: | Final Year Project |
Language: | English |
Published: |
2014
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Subjects: | |
Online Access: | http://hdl.handle.net/10356/55704 |
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Institution: | Nanyang Technological University |
Language: | English |
Summary: | From the literature review, empirical research and the case study, the
authors have found that the under-representation of Singapore Malays in
entrepreneurial activities can be attributed to several factors, most of which
are not inherent in the Malay race but due to several historical and social
factors.
The mam reasons for Malay under-representation are the lack of
capital, a trading tradition , technical and management expertise as well as
certain aspects of the Malay cultural mind-set which does not advocate the
idea of the pursuit of wealth.
The lack of capital is due to the Malays being in the lower-middle
strata of the economy. This phenomenon can be partly attributed to the low
education attainment of Malays which results in low-paying jobs. This
disadvantage is further aggravated by the difficulty of obtaining bank loans
and having large families to support. Culturally, the Malays place more emphasis on religion and
maintaining social ties. Hence, ideas of wealth not bringing happiness as
well as their generally relaxed lifestyle has resulted in their limited
participation in entrepreneurial activities. However, culture is not static but
always evolving with the external environment. Thus, with Malays gradually
adapting to the competitive climate in Singapore, the marked improvement
in their educational performance as well as their heightened awareness to
better their economic position, the prospect of more participation in
entrepreneurship by our Malay counterparts is promising. With time,
assistance and understanding, Singapore Malays will play a significant role
in this sector of the economy. |
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