Entrepreneurial Opportunities in Malaysian Early Childhood Industry

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Childcare
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A. Entrepreneurial opportunities in Malaysian Early Childhood Industry:
Introduction:
Entrepreneurial ventures are often signified as the drivers of economic growth in
economies. Entrepreneurs recognize gaps in the market which are either not met successfully ro
not met at all to bring bring about new products which are capable of meeting the gap.
Entrepreneurs usually seek to enter markets, which are experiencing fast growth and are capable
of giving higher returns. As per Omar (2016) early childhood industry is one of the fastest
growing industries in countries like Malaysia. The market is attracting entrepreneurial ventures
owing to favourable factors like availability of financial assistance from banks. The aim of the
paper would be exploring the entrepreneurial opportunities in Malaysia. The paper after defining
the term entrepreneurship would go on to describe the early childhood care and education in
context of Malaysia followed by an exploration of the main entrepreneurs in the sector. Then the
researcher would go on to describe the impact of entrepreneurship on the development and
growth in sector. The second part of the research would go on to explore the key success factors,
challenges and methods to over the challenges by interviewing an entrepreneur.
Analysis:
Entrepreneurship can be defined as the process of launching and carrying out new
business ventures. Gutterman, A. (2015) mentions in his work that the term entrepreneurship ,
though one of the most studied topics of management, lack a fixed definition. Dentchev et al.
(2016) defines the entrepreneurship from the view of bring about goods in order to create value
to the society. Koe, Omar and Sa’ari (2015) though do not contradict the views of the previous
authors; point out to the term the view of profit generation. As per their views, entrepreneurship

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can be described as the process of launching and running businesses in order to earn profits by
taking risks. One can point out that entrepreneurship can be carried out in the forms as sole
proprietorships, partnerships as well as multinational corporate organisations. The analysis of
brings into light four aspects of entrepreneurship. The first aspect is that entrepreneurship results
in development of new products in the society. The second aspect is that entrepreneurship is
generation of profits while the third aspect of entrepreneurship is taking risks. The fourth aspect
is creating value for the customers and the society at large by offering products which would
create value.
Early Childhood Care and Education industry in Malaysia is one of the fastest growing
service industries in the country owing to several favourable macroeconomic contexts. Omar
(2016) sheds light on the first context, which is leading to the growth in the industry. The author
mentions that the advent of career opportunities in the country and increasing professional
pressure often require the residents of the country stay away from their children for a long time.
This factor has given rise to needs for institutions, which would take care of children during the
long hours of absence due to professional commitments. The article further mentions owing to
more parents admitting their children in early childhood care services; there has been a steady
growth in the numbers of the nurseries and kindergarten service providing firms.
The article points out to the second factor in the Malaysian context, which is encouraging
further growth in the industry. Mikkelsen and Mikkelsen (2017) point out that the kindergartens
in Malaysia design their service packages in alignment with the preferences of the parents, their
customers in order to ensure satisfaction to the latter. These early childhood care-providing
nurseries take into aspects like expectations of parents regarding the food and entertainment
services, which would be provided to their children. These childcare service-providing