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Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid

In the fast-paced and ever-changing business landscape, maintaining precise and current business registration is crucial for entrepreneurs to ensure legal adherence and capitalise on growth opportunities. This cross-sectional study meticulously assesses the level of awareness among entrepreneurs in...

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Main Authors: Ahmad Sohaimi, Muhammad Abu Hanifah, Anuar, Azyyati, Abd Hamid, Nur Zainie
Format: Article
Language:English
Published: Research Management Centre (RMC) 2023
Subjects:
Entrepreneurship. Risk and uncertainty
Management. Industrial Management
Online Access:https://ir.uitm.edu.my/id/eprint/86057/1/86057.pdf
https://ir.uitm.edu.my/id/eprint/86057/
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spelling my.uitm.ir.860572023-10-27T09:42:43Z https://ir.uitm.edu.my/id/eprint/86057/ Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid smrj Ahmad Sohaimi, Muhammad Abu Hanifah Anuar, Azyyati Abd Hamid, Nur Zainie Entrepreneurship. Risk and uncertainty Management. Industrial Management In the fast-paced and ever-changing business landscape, maintaining precise and current business registration is crucial for entrepreneurs to ensure legal adherence and capitalise on growth opportunities. This cross-sectional study meticulously assesses the level of awareness among entrepreneurs in Penang regarding the renewal of their business registration certificates (BRC). Data were gathered from 384 participants representing diverse business sectors through an online questionnaire. The study employed descriptive statistics and the Kruskal-Wallis test to compare awareness scores among sectors. The findings unveil distinct levels of awareness, with retail entrepreneurs exhibiting the highest median awareness score. This study underscores the imperative need for targeted educational and outreach endeavours, orchestrated by regulatory bodies and business associations to empower entrepreneurs with comprehensive knowledge on compliance obligations and the potential ramifications of non-compliance. The insights furnish vital theoretical implications, elucidating sector specific disparities in awareness and advocating for robust enforcement mechanisms to uphold compliance standards. Furthermore, from a managerial standpoint, the study emphasizes the importance of prioritizing educational initiatives to elevate awareness levels, streamlining the registration and renewal process, and nurturing a culture of informed vigilance among business owners regarding regulatory requirements. By implementing such measures, entrepreneurs can mitigate legal and financial risks, fostering an environment conducive to entrepreneurial growth. Consequently, the study’s valuable contributions support the thriving small businesses in Penang, paving the way for future research on additional factors that shape awareness and compliance with regulatory mandates over time. Research Management Centre (RMC) 2023-10 Article PeerReviewed text en https://ir.uitm.edu.my/id/eprint/86057/1/86057.pdf Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid. (2023) Social and Management Research Journal (SMRJ) <https://ir.uitm.edu.my/view/publication/Social_and_Management_Research_Journal_=28SMRJ=29/>, 20 (2): 1. pp. 1-9. ISSN 0128-1089
institution Universiti Teknologi Mara
building Tun Abdul Razak Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider Universiti Teknologi Mara
content_source UiTM Institutional Repository
url_provider http://ir.uitm.edu.my/
language English
topic Entrepreneurship. Risk and uncertainty
Management. Industrial Management
spellingShingle Entrepreneurship. Risk and uncertainty
Management. Industrial Management
Ahmad Sohaimi, Muhammad Abu Hanifah
Anuar, Azyyati
Abd Hamid, Nur Zainie
Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid
description In the fast-paced and ever-changing business landscape, maintaining precise and current business registration is crucial for entrepreneurs to ensure legal adherence and capitalise on growth opportunities. This cross-sectional study meticulously assesses the level of awareness among entrepreneurs in Penang regarding the renewal of their business registration certificates (BRC). Data were gathered from 384 participants representing diverse business sectors through an online questionnaire. The study employed descriptive statistics and the Kruskal-Wallis test to compare awareness scores among sectors. The findings unveil distinct levels of awareness, with retail entrepreneurs exhibiting the highest median awareness score. This study underscores the imperative need for targeted educational and outreach endeavours, orchestrated by regulatory bodies and business associations to empower entrepreneurs with comprehensive knowledge on compliance obligations and the potential ramifications of non-compliance. The insights furnish vital theoretical implications, elucidating sector specific disparities in awareness and advocating for robust enforcement mechanisms to uphold compliance standards. Furthermore, from a managerial standpoint, the study emphasizes the importance of prioritizing educational initiatives to elevate awareness levels, streamlining the registration and renewal process, and nurturing a culture of informed vigilance among business owners regarding regulatory requirements. By implementing such measures, entrepreneurs can mitigate legal and financial risks, fostering an environment conducive to entrepreneurial growth. Consequently, the study’s valuable contributions support the thriving small businesses in Penang, paving the way for future research on additional factors that shape awareness and compliance with regulatory mandates over time.
format Article
author Ahmad Sohaimi, Muhammad Abu Hanifah
Anuar, Azyyati
Abd Hamid, Nur Zainie
author_facet Ahmad Sohaimi, Muhammad Abu Hanifah
Anuar, Azyyati
Abd Hamid, Nur Zainie
author_sort Ahmad Sohaimi, Muhammad Abu Hanifah
title Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid
title_short Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid
title_full Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid
title_fullStr Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid
title_full_unstemmed Measuring the factors affecting awareness in renewing business registration certificates (BRC) among entrepreneurs in Penang, Malaysia / Muhammad Abu Hanifah Ahmad Sohaimi, Azyyati Anuar and Nur Zainie Abd Hamid
title_sort measuring the factors affecting awareness in renewing business registration certificates (brc) among entrepreneurs in penang, malaysia / muhammad abu hanifah ahmad sohaimi, azyyati anuar and nur zainie abd hamid
publisher Research Management Centre (RMC)
publishDate 2023
url https://ir.uitm.edu.my/id/eprint/86057/1/86057.pdf
https://ir.uitm.edu.my/id/eprint/86057/
_version_ 1781709310367105024
score 13.211869

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