American Journal of Business and Society
Articles Information
American Journal of Business and Society, Vol.6, No.2, Jun. 2021, Pub. Date: Jun. 2, 2021
Ease of Doing Business in the Philippines and Malaysia: Prospects for Development and Regional Growth
Pages: 49-56 Views: 907 Downloads: 408
Authors
[01] Jonathan C. Gano-an, Entrepreneurship Department, Compostela Valley State College, Province of Davao de Oro, Philippines.
[02] Chiam Chooi Chea, Cluster of Business and Management, Open University Malaysia, Selangor, Malaysia.
Abstract
Entrepreneurship plays an important role in contributing to the nation economic growth and creates job opportunities to the country. Entrepreneurs are people who started a business and foresee a market’s potential before the shift in the demand takes place. However, once the business takes off and there is a shift in the demand for the market, the need for managers will arise to assist entrepreneurs to manage the business. Many countries are encouraging people to venture into business and be successful entrepreneurs as they play a significant role in economic growth. Entrepreneurship education has now become an essential component to cultivate the potential entrepreneurs in the higher learning institutions. Hence, the ease to start a business needs to be addressed and the ease of doing business is different with countries. Entrepreneurs need to have a set of skills to ensure its sustainability such as acute foresight, sense of alertness, wise decision making, foresighted, creative, innovative as well dare to take risk wisely and reasonably in order to sustain in difficult and challenging business environment. The ease of doing business or entrepreneurship can impact the successfulness of encouraging the entrepreneurship intention to its nation. This paper discusses the steps in doing business in Malaysia and the results of this paper would be able to highlight the ways to further improve the easiness to do business as well as to start a business in Malaysia.
Keywords
Entrepreneurship, Entrepreneurs, Ease of Doing Business, Regional Cooperation
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