Factors Contributing to the Successful Business of Street Market Food Vendors

Abstract

Micro-entrepreneurship (ME) plays an important role in the country’s economic development in generating urban informal economy. Street market business can be classified as micro-entrepreneurship which in most cases the business has no employees besides the owner. High levels of unemployment and economic crisis led to the increasing number of street market vendor as a mean of survival and its ability to provide basic needs at affordable prices to the surrounding communities. This paper presents an analysis of the success factors contributing to the street market food vendors in selected street market in Malaysia. We highlight and identify some key factors that positively affect their sales revenue. A qualitative approach using focus group discussion method has been used to gain an in-depth understanding of success factors. A mini focus group discussion and exploration of issues were conducted. Business success was measured based on individual, environmental and organizational factors which can be divided into controllable and uncontrollable factors. The results indicate that individual factors specifically business experience is an important success factors that positively affect sales revenue. The paper also comes to the conclusion that individual, environmental and organizational factors were found positively and significantly related to the success of street market food business.