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Malaysia fourth in gender equality in entrepreneurship: Yap

  • Mary Yap (L2) browsing the Global Entrepreneurship Monitor Report 2016/2017 at the launch. On the far right is Siri Roland Xavier. Photo courtesy: Sin Chew Daily

KUALA LUMPUR, Feb 7 (Sin Chew Daily) -- The number of women entrepreneurs has caught up with men. Malaysia is one of the four countries in the world in gender equality in terms of the number of female entrepreneurs.

While launching the Global Entrepreneurship Monitor Report (GEM) 2016/2017, deputy higher education minister Datuk Dr Mary Yap said Malaysia ranked fourth in gender equality in entrepreneurs, behind only Brazil, Mexico and Indonesia.

She said entrepreneur education in Malaysia has improved from 11th in 2015 to 9th, reflecting the proactive role of the higher education ministry in grooming entrepreneurs.

Malaysia is also one of the few countries with listed entrepreneurship as a mandatory subject in universities, science and technical colleges and community colleges.

In addition, Malaysia also ranks fourth in the world in terms of financing start-ups.

Yap said this showed that financial resources such as equity and bonds were offered to small and medium-sized enterprises in raising development capital.

The GEM 2016/2017 has carried out a survey on 12 economic yardsticks for 66 countries and territories, including the United States, China, United Kingdom, Germany, Australia, South Korea, India, South Africa and Asean countries such as Malaysia, Thailand and Indonesia.

Siri Roland Xavier, deputy dean of Bank Rakyat School of Business and Entrepreneurship at Universiti Tun Abdul Razak (UNIRAZAK), also took part in writing of the report.

He said the report discovered that entrepreneurship were more active in rural areas than urban areas during the last five to ten years.

He added that more than half of male entrepreneurs started their businesses due to demand while women started their business after they chanced upon the opportunity.

This explains that the success rate of female entrepreneurs is higher than their male counterparts.

Malaysians involved in entrepreneurship remain only at 0.3% of the total population, ranking second from the bottom this year, lagging behind from Thailand's 17.2% and Indonesia's 14.1%.

The report said the ranking on perception of starting a business for better career has dropped from 50th to 58th, and Malaysia ranked bottom on innovative entrepreneurship.

"During the past 10 years, the growth achieved by small and medium-sized enterprises has outperformed the overall economic growth of the country. Fewer Malaysians have involved themselves in start-ups. The figure has dropped from 7% in 2012 to 2.9% in 2015."

Although the number of individuals involved in start-ups has increased, Malaysians are still far behind many other countries in the world. The ranking has declined from 60th to 63rd.

In addition, the ranking of 10 out of 12 items listed as eco-system of start-ups -- financing for start-ups, support and relevancy of government policy, tax scheme and bureaucracy, government's entrepreneurship plan, corporate education after school, technology transfer, business and legal framework, affordability of domestic market, monitoring of market, basic utilities, culture and social standard show a decline in ranking. The ranking of basic utilities fell from 9th to 39th globally.

 

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