The influence of microtakaful products on halal small business sustainability
Due to their size, halal small businesses normally face catastrophes in their operations with insufficient protection and knowledge of risk management. While microtakaful has opened a new paradigm of micro protection for halal small businesses, the extent to which microtakaful products have contribu...
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| Main Authors: | , , |
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| Format: | Article |
| Language: | English |
| Published: |
HH Publisher
2022
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| Subjects: | |
| Online Access: | http://irep.iium.edu.my/102933/7/102933_The%20influence%20of%20microtakaful%20products.pdf http://irep.iium.edu.my/102933/ https://journals.hh-publisher.com/index.php/JHIS/article/download/646/389/4353 https://doi.org/10.36877/jhis.a0000301 |
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| Summary: | Due to their size, halal small businesses normally face catastrophes in their operations with insufficient protection and knowledge of risk management. While microtakaful has opened a new paradigm of micro protection for halal small businesses, the extent to which microtakaful products have contributed to the sustainability of halal small businesses is yet to be explored. Hence, this study explores a range of microtakaful products that can contribute to the sustainability of halal small businesses. To achieve this objective, a survey questionnaire was designed and used to collect data from 238 halal small business owners and managers in Klang Valley, Malaysia. Using multiple regression, the results show a positive and significant influence of disability and family microtakaful products on halal small business sustainability. Whereas property and health microtakaful products were found to be insignificantly related to the sustainability of halal small businesses. Thus, this study recommends that disability and family microtakaful products are the basic forms of risk management tools that are crucial for the sustainability of halal small businesses in Malaysia. |
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