Business-related information needs: A study of potential Bumiputera entrepreneurs in Malaysia

Entrepreneurs require information, capital, skills, and labour for start-up, survival and success in business. This paper examines the kinds of information needed by those who aspire to become entrepreneurs, the level of importance of the information to their businesses, the sources and methods of accessing the business information. Questionnaires were distributed to 400 potential entrepreneurs of whom only 288 (72%) responded. The findings revealed that information on preparing business plans, planning cash flow, examining business opportunities, and profit planning were the types of information most needed by the respondents. Planning their cash flow, preparing business plans, profit planning, communicating with clients, business opportunities and courses on entrepreneurship creativeness and innovativeness in business were considered the most important types of information required. The sources of information included courses, business exhibitions, the Internet/e-mail, business premises and government agencies. Respondents claimed that most of their business information was obtained by talking and sharing experiences with other entrepreneurs, discussing with friends/relatives, reading newspapers and magazines, asking clients, and using the Internet/email. The study had a vital impact on making recommendations to business supporting agencies relating to entrepreneurship in Malaysia. This study also has implications for potential and novice entrepreneurs and business supporting institutions concerned with entrepreneurs and business sectors for meeting entrepreneurs´ business information needs in Malaysia.