Determining the success factors of micro-businesses in the post-pandemic era: Empirical evidence from Asnaf entrepreneurship in Malaysia

Saliza Sulaiman (), Nadiah Abd Hamid (), Rani Diana Othman (), Suzana Che Saruji () and Che Muhamad Faiz Aimullah ()

Journal of Asian Scientific Research, 2024, vol. 14, issue 1, 38-49

Abstract: The COVID-19 pandemic has not only caused a health crisis, but it has also led to significant economic turmoil. It has resulted in a substantial reduction in the Gross Domestic Product (GDP), disrupted travel and trade, caused the collapse of businesses, and pushed millions of people into poverty. Given the downward trend of the pandemic recently, the World Health Organization (WHO) has declared an end to the COVID-19 global public health emergency, and most countries have returned to their pre-pandemic lives. Unfortunately, many businesses, particularly micro-businesses, have been on the ropes even in the post-pandemic crisis of COVID-19. According to past studies, the unsustainability of businesses is due to a low level of sustainable practices. Hence, by using the regression analysis approach, this study aims to determine the key factors associated with business success and investigate the significant success factors that represent the sustainable practices adopted by micro-businesses in Malaysia, focusing on Asnaf entrepreneurs. A total of 163 usable questionnaires were collected, and multiple regression analysis was then employed to analyze the data. The results revealed that systematic record-keeping and marketing strategies are vital for micro-businesses to sustain themselves in the post-pandemic era. To improve their marketing strategies, microbusinesses, particularly those run by Asnaf entrepreneurs, require support programs through systematic accounting records and guidance on digital platforms. This notifies the government and associated agencies of this. This business group, which makes up Malaysia's largest commercial establishment and might help the country reach its 2030 Sustainable Development Goal of being a higher-income nation, deserves more attention.

Keywords: Asnaf entrepreneurs; Marketing strategy; Microbusiness; Record keeping; Sustainable goals; Sustainable practices. (search for similar items in EconPapers)
Date: 2024
References: Add references at CitEc
Citations:

Downloads: (external link)
https://archive.aessweb.com/index.php/5003/article/view/4980/7857 (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:asi:joasrj:v:14:y:2024:i:1:p:38-49:id:4980

Access Statistics for this article

More articles in Journal of Asian Scientific Research from Asian Economic and Social Society
Bibliographic data for series maintained by Robert Allen ().