Factors Shaping Youth Readiness for Social Entrepreneurship in Malaysia: Proposing A Conceptual Model

Abstract

The ascent of social entrepreneurship into the limelight is unmistakable, with its growing significance and recognition as a potent force for addressing pressing social, environmental, and economic challenges. Nonetheless, Malaysia finds itself grappling with a notable absence of young participants within its social entrepreneurship realm. Consequently, this conceptual inquiry endeavors to unravel the intricate web of factors influencing the readiness of youth social entrepreneurs, poised to catalyze empowerment within both youth cohorts and the broader community landscape. Building upon prior research, it has been established that pivotal elements such as empathy, prior experience, entrepreneurship education and self-efficacy play instrumental roles in shaping the readiness of youth to embrace social entrepreneurship. The forthcoming research outcomes hold promise as they are set to furnish profound insights, serving as the cornerstone for the development of a robust framework tailored specifically to Malaysian youth. This framework aims to elucidate the multifaceted dynamics at play, shedding light on both facilitating and inhibiting factors that impinge upon the engagement of Malaysian youth in social entrepreneurship endeavours. By arming policymakers with this invaluable understanding, the envisioned framework is poised to pave the way towards a more conducive environment for nurturing social entrepreneurship among Malaysian youth. Ultimately, such endeavours align with the broader ambitions outlined in the National Entrepreneurship Policy 2020-2030, steering Malaysia towards its envisioned destination as a beacon of entrepreneurial excellence by the year 2030.