A Quantitative Study on Factors That Influence the Choice of Being an Entrepreneur in Malaysia.

Abstract

The objectives of this dissertation was to gain exposure to the entrepreneurial intentions in Malaysia and to identify the common personality traits of individuals, referring Big Five personality traits, with entrepreneurial intentions as well as the contextual factors that impacted their choices of becoming an entrepreneur. In order to achieve the research objectives, a conceptual framework and hypotheses were developed and being tested for data analysis using quantitative method. Multiple regression analysis was conducted with extraversion, conscientiousness, openness to experience, family background, and government policy as independent variables, which revealed the relationship between the dependent variable, entrepreneurial intentions. Over 200 questionnaires were circulated to Malaysians aged between 20 years old and 30 years old. It was grateful that 152 responses were useable, completed and satisfied with the requirement for analysed. The findings showed that most of the Malaysians do have entrepreneurial intentions. The personalities of extraversion and openness to experience were significantly and positively related to the entrepreneurial intentions, while conscientiousness was not contributed uniquely itself but still positively related. Family with entrepreneurial background has an impact and would influenced the individuals career decisions as entrepreneurs, and it was much favourable if family supports was given to them. It was found that Malaysians would be more preferred and considered to be entrepreneurs if there was a loose government policy such as ease to get loans, uncomplicated business procedures and even protection for new ventures. Further detailed and specialised research study is still needed in order to strengthen and achieve actualisation of the study.