The Effect of Entrepreneur Spirits on the Success of Muslim Millennial SMEs

Abstract

The entrepreneurship education of Muslim SME millennials is still a question. This issue needs to be the main focus of developing an education model for youth that can be applied in their career and potentially become entrepreneurs who build their dynamic and successful SMEs. The purpose of this research is to determine the effect of entrepreneurial spirits, namely innovative, risk-taking, and proactive, on the success of Muslim millennial SMEs. The study employed a quantitative and deductive approach. The questionnaire was used as a data collection instrument. Data were gathered from a random sample of 150 respondents, comprising millennial entrepreneurs in Malaysian public universities, aged 22 to 38 years old and with at least three years of business experience. Proposed hypotheses were tested using Multiple Regression analysis. The findings reveal the significant and positive effect of innovation, risk-taking, and proactive on Muslim millennial SMEs' success, implying that a higher level of innovation, risk-taking, and proactive, is more likely to yield in Muslim millennial SMEs' success. Thus, Muslim millennial SMEs' success can be generated by instilling entrepreneurial spirit. In addition to empirical evidence, the findings provide fresh insights into how entrepreneurs can formulate strategies to achieve business success.