Published: Thursday January 17, 2013 MYT 12:32:00 PM
Second Finance Minister: Entrepreneurs now more confident
By Intan Farhana Shazwani
KUALA LUMPUR: Malaysia's fear of failure rate for entrepreneurship has fallen significantly over the last four years from 65% in 2009 to 36% in 2012, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said.
"This trend was demonstrated from entrepreneurial pursuits that was shaped and focused on available opportunities, and signals an increasing rate of innovations initiatives, and an improvement in the country's economic situation," he said at the launch of the Global Entrepreneurship Monitor 2012 on Thursday.
He noted that Malaysia's early-stage Entrepreneurial Activity or TEA rate for 2012 has increased to 7% compared to 4.4% in 2009.
"This increase was driven mainly by improvement-driven opportunity entrepreneurship as compared to necessity-driven entrepreneurship," he said.