Risk Management of Start-up Business for SMEs: A Review Paper

Siti Nadhirah Mohamad Fauzi · Puspa Liza Ghazali · Roslida Abdul Razak · Eni Noreni Mohamad Zain · Norhilmi Muhammad

6 citations0/0 files storedThe Journal of Management Theory and Practice (JMTP)

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Entrepreneurship Studies and Influences Financial Literacy and Behavior Business, Education, Mathematics Research

Abstract

Nowadays, SMEs plays a vital role in economic growth in Malaysia because it is the largest category of business in Malaysia. Therefore, many Malaysians, especially young generations, are involved in this area as they believe that entrepreneurship can help them improve their living standard and income level. Besides, the government support become one of the factors why young Malaysian people want to be an entrepreneur. However, many successful entrepreneurs in Malaysia struggled to survive because of some risks and challenges that they need to face. Therefore, this paper aims to study previous papers regarding the importance of risk management in start-up businesses. This paper found that protection of insurance/takaful and mathematical risk index is an essential tool that can help the entrepreneur manage and measure the risk in entrepreneurship.

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2017A Critical Assessment of Business Model Research 2019Risk management in SMEs: A systematic literature review and future directions 2019Mediating role of enterprise risk management practices between business strategy and SME performance 2015The Theory of Entrepreneurship 2019The effects of students’ entrepreneurial characteristics on their propensity to become entrepreneurs in Malaysia 2019RETRACTED: Do entrepreneurial skills affect entrepreneurship attitudes in accounting education?2020Attitudes towards entrepreneurship among the students of Thailand: an entrepreneurial attitude orientation approach 2019Business education and entrepreneurial skills: Evidence from Arab universities

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