MALAYSIAN ENTREPRENEUR’S TECHNOLOGY ADOPTION

Abstract

Entrepreneurship is a part of social science, and it has many definitions. An entrepreneur is a person who actively seeks out change, adapts to it, and seizes the chance it presents as an opportunity. An entrepreneur has the capacity and aptitude to create and bring together all the production factors. Nowadays, entrepreneurs must utilize the internet and technology to widely promote their goods or services. They must be competitive, able to survive, and relevant in the business world; they must also be astute enough to grasp the digital platform and use it as one of their most powerful marketing tools. The development of technology in business has helped to open various new opportunities for entrepreneurs. In recent years, the use of digital technology has become increasingly prevalent in the business world, in addition to the outbreak of the covid 19 pandemic, causing a high reliance on digital technology in business. Digital technology and artificial intelligence have had a significant impact on entrepreneurial activities around the world. However, a substantial majority of business owners in Malaysia see the significance of technology in the administration of their companies; moreover, only a tiny percentage of these business owners incorporate technology into their operations. Due to that, education and digital knowledge sharing for entrepreneurs also need to be developed rapidly in line with the country's demands to be better prepared to face the real challenges of the entrepreneurial world, especially in the current industry, which is constantly increasing. This concept paper focuses on the relationship between technology and entrepreneurship, the study of previous literature on the relationship between entrepreneurs and digital technology, government efforts, and the well-being and development of entrepreneurs in Malaysia.