Motivation and Network towards Success of Muslim Millennial SMEs

Abstract

This study was conducted to find out the effect of motivation and networking on the success of Muslim millennial SMEs. This study uses a quantitative and deductive approach. A questionnaire was used as a data collection instrument. Data were collected from a random sample of 60 respondents, which consisted of millennial entrepreneurs in Malaysian public universities, aged around 15 years to 45 years, and had at least three years of experience in running a business. The proposed hypothesis was tested using Multiple Regression analysis. the results confirm that at least one of the tested independent variables will significantly influence the dependent variable. Therefore, the coefficient results are examined next. It was found that motivation (β=0.241, p<0.001) and network (β=0.753, p<0.1) were significant in the success of Muslim millennial SMEs at critical values and corresponding importance. Thus, the success of Muslim millennial SMEs can be generated by instilling motivation and networking. In addition to empirical evidence, new findings on how other factors need to be explored to provide new insights into how entrepreneurs can formulate strategies to achieve business success.