Importance Of Entrepreneurship To The Malaysian Economy

Entrepreneurship itself is a symbol of steadfastness and achievement. It is important to our economic growth and affects the future in many ways such as:

• Innovative creations create opportunities ( Innovative = Opportunities )

How can we say that innovative creations create opportunities ? Just think, the creation of portable smartphones allows entrepreneurs to communicate virtually with their business even in long distances. These smart phones can be linked to fax machines, computers, servers as well as the internet to facilitate the opportunity for business growth.

• Entrepreneurship provides jobs to graduates, thus expanding the potential of businesses
• Entrepreneurship results in the creation of new businesses, such as small to medium industries that contribute to the local economic growth. These industries provide services that large companies lack due to economical scale. Furthermore, such industries apply 90% of total labor in manufacturing with 26% of total added value