Challenges and Opportunities of Rural Micro Enterprise in...

RURAL ENTREPRENEURSHIP: A CHALLENGES AND OPPORTUNITIES OF RURAL MICRO ENTERPRISE (RME) IN MALAYSIA Musdiana Mohamad Salleh Faculty of Business Management, Universiti Teknologi MARA ( UiTM) Kedah Branch. P.O Box 187 08400, Merbok Kedah, Malaysia e-mail: diana001@kedah.uitm.edu.my Noor Zahirah Mohd Sidek Faculty of Business Management, Universiti Teknologi MARA (UiTM) P.O Box 187, 08400, Merbok, Kedah, Malaysia e-mail: zahira@kedah.uitm.edu.my RURAL ENTREPRENEURSHIP: A CHALLENGES AND OPPORTUNITIES OF RURAL MICRO ENTERPRISE (RME) IN MALAYSIA Abstract Entrepreneurship has been a topical issue in business administration literature and mostly the wave on interest is on the role of entrepreneurship in economic growth literature. This paper†¦show more content†¦Definitional issues: entrepreneurship, micro enterprise and rurality Numerous definition of entrepreneurship can also be found in the literature. Hisrich and Peters (1998) define entrepreneurship as â€Å"the process of creating something new with value by devoting the necessary time effort assuming the accompanying financial, physic and social risks and receiving the resulting rewards of monetary and personal satisfaction and independence† while Zacharis et al (2000) define entrepreneurship as â€Å" any attempt to create a new business enterprise or to expand existing business by an individual, ateam individuals or an established business†. Micro enterprises are typically defined as very small, informally run businesses, involved in activities other than crop production. In the United States, Canada and Britain, small scale business is defined according to the number of paid employees and total annual turnover. In Britain for example, businesses with an annual sales of  £2 million or less and have less than 200 paid employees will be classified as small scale business. In Malaysia, small enterprise covers all enterprises employing between 5-49 workers; medium scale enterprise employs between 50-199 workers and large enterprise has more than 200 employees. Micro enterprise employs less than 5 workers and is normally treated as an informal sector under the Ministry of States and Regional Development. There are stillShow MoreRelatedEntrepreneurship Development in Malaysia2543 Words   |  11 Pagescreate business opportunities throughout the entire value chain in agriculture and food production sector including the related supporting industries. Business activities in agriculture involve production of primary products, downstream or processed products, byproducts and waste utilization as well as activities in the supporting businesses, such as packaging, transportation, marketing, supply of inputs and machineries. 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