A review on the impact of social media towards entrepreneurship development in Malaysia

Abstract

In recent times, social media is a form of interactive communication of business platform which presents an alternative way to entrepreneur to posted and promotes their products and services at a zero cost and efficiently 24/7. Most used social media platforms are Facebook, Instagram, YouTube, Twitter, blogs, social networks, content communities, forum, and bulletin boards. For entrepreneurs, social media has become an important tool to keep in touch with suppliers and customers, promoting brands or business profile, improve customers’ satisfaction and generally to save cost in running business. Despite increasing numbers of online businesses registered with SSM (Companies Commission of Malaysia), entrepreneurs in Malaysia still relies on traditional approach or offline business such as-renting kiosk, booth or shop lot that requires paying bills and rental fees. Thus, the objective of this study is to delineate the impact of social media towards entrepreneurial development in Malaysia. Therefore, this study will hopefully provide some insights for local entrepreneurs and online merchant to utilize social media as a business platform more effectively, cost efficient and ready for competitive worldwide market. This study is based on literature reviews and synthesizing data and information from the findings of past researches. Findings in this study will be the foundation to entrepreneurs who use social media to design and implement their business platform towards entrepreneurship development in Malaysia, which provides them opportunity to collaborate and share knowledge within their network.