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Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia

Received: 31 January 2018     Accepted: 16 February 2018     Published: 19 March 2018
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Abstract

This study aims to analyze the awareness and perception of Malaysian Small Medium Enterprises and start-ups on the existence of alternatives financing channels such as Peer-to-Peer lending and crowdfunding in supporting the growth and expansion of their business in the future. Results indicate that, at present, the level of awareness of most respondents is still insufficient on Peer-to-Peer lending and crowdfunding as alternative financing instruments. However, based on the perception results, a majority of them have a slightly positive response or perception to the development of FinTech. These results suggest that there is a need and opportunity to raise awareness among Small Medium Enterprises and start-ups by authorized government related body.

Published in International Journal of Finance and Banking Research (Volume 4, Issue 1)
DOI 10.11648/j.ijfbr.20180401.12
Page(s) 13-24
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2018. Published by Science Publishing Group

Keywords

Awareness, Perception, FinTech, Alternative Financing Instrument, SME, Malaysia

References
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[2] Asaba, S., Aiba, K., Hirano, M. (2016). The Potential of the Fintech Industry to Support the Growth of SMEs in Indonesia, Raras Minerva Management Strategy and Industry Evolution, 35142338-8.
[3] Baeck, P., Collins, L., Zhang, B. (2014). Understanding Alternative Finance: The UK Alternative Finance Industry Report 2014.
[4] Ernst & Young (2017). EY FinTech Adoption Index 2017: The rapid emergence of FinTech http://www.ey.com/Publication/vwLUAssets/ey-fintech-adoption-index-2017/$FILE/ey-fintech-adoption-index-2017.pdf (Date Accessed: December 30, 2017).
[5] Fintech Regulatory Sandbox Framework (2016) http://www.bnm.gov.my/index.php?ch=en_announcement&pg=en_announcement&ac=467&lang=en (Date Accessed: December 30, 2017).
[6] Ignacio, D. L., & Julian, M. (2017). The Role of Awareness in Crowdfunding Campaigns: The Empirical Evidence For The Caribbean. Inter-American Development Bank, Discussion Paper, IDB-DP-531.
[7] Information and Communications Technology (ICT) and Digital Adoption: E-Readiness of Malaysian SMEs (2017), http://acccimserc.com/file/file/2017%20 Working%20Papers/Final%20Report%20on%20SMEs%20Readiness%20in%20Digital%20Technology%20-%2019%20Oct%202017 (1).pdf (Date Accessed: December 30, 2017).
[8] Klaus Schwab, World Economic Forum (2017). The Global Competitiveness Report 2017–2018.
[9] Lucia, C. (2015). New Approaches to SME and Entrepreneurship Financing: Broadening the Range of Instruments, Economic Co-operation and Development (OECD), http://www.oecd.org/cfe/smes/New-Approaches-SME-full-report.pdf (Date Accessed: September 30, 2017).
[10] Mollick, E. (2014). The Dynamics of Crowdfunding: An Exploratory Study, Journal of Business Venturing 29, 1- 16.
[11] Pierangelo, R. (2017). Siliconrepublic.com: Alternative finance: From Crowdfunding to P2P Lending, https://www.siliconrepublic.com/start-ups/alternative-finance-ic4-dcu-symposium (Date Accessed: September 30, 2017).
[12] Press Release, MasterCard (2013), Youth in Asia/Pacific’s Developing Markets More Money Savvy, But Still Work to Be Done: MasterCard Index of Financial Literacy, https://newsroom. mastercard.com/press-releases/youth-in-asiapacifics-developing-markets-more-money-savvy-but-still-work-to-be-done-mastercard-index-of-financial-literacy/ (Date Accessed: September 30, 2017).
[13] Rahman, M. P., & Duasa, J. (2016). Factors Contributing To The Success of Crowdfunding: The Malaysian Case, Working Paper.
[14] Registered Market Operators in Malaysia (2016). https://www.sc.com.my/digital/list_rmo/(Date Accessed: December 30, 2017).
[15] Saksonova, S., & Kuzmina-Merlino, I. (2017). Fintech as Financial Innovation – The Possibilities and Problems of Implementation, European Research Studies Journal, pp. 961-973.
[16] Shazida, J. M. K., Nur Syamilah. M. N., Abdul Rahim, A. (2016). Performance of Youth Entrepreneurs In Malaysia Micro Small and Medium Enterprises, International Journal of Economics and Financial Issues, 6 (S7) 86-91.
[17] Tran. K. C. (2006). Public Perception of Development Issues: Public Awareness Can Contribute to Sustainable Development of a Small Island. Ocean & Coastal Management, 49, 367-383.
[18] Tubre, T. C., & Collins, J. M. (2000). Jackson and Schuler (1985) revisited: A meta-analysis of the relationships between role ambiguity, role conflict, and job performance. Journal of Management, 26, 155–169.
[19] World Bank; Enterprise Access to Finance (2014). http://pubdocs.worldbank.org/en/831911430846153177/MSME-Finance-Survey-GEORGIA-EnterpriseAccessToFinance.pdf (Date Accessed: December 30, 2017).
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Cite This Article
  • APA Style

    Nasrul Hakim Ghazali, Takashi Yasuoka. (2018). Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia. International Journal of Finance and Banking Research, 4(1), 13-24. https://doi.org/10.11648/j.ijfbr.20180401.12

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    ACS Style

    Nasrul Hakim Ghazali; Takashi Yasuoka. Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia. Int. J. Finance Bank. Res. 2018, 4(1), 13-24. doi: 10.11648/j.ijfbr.20180401.12

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    AMA Style

    Nasrul Hakim Ghazali, Takashi Yasuoka. Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia. Int J Finance Bank Res. 2018;4(1):13-24. doi: 10.11648/j.ijfbr.20180401.12

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  • @article{10.11648/j.ijfbr.20180401.12,
      author = {Nasrul Hakim Ghazali and Takashi Yasuoka},
      title = {Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia},
      journal = {International Journal of Finance and Banking Research},
      volume = {4},
      number = {1},
      pages = {13-24},
      doi = {10.11648/j.ijfbr.20180401.12},
      url = {https://doi.org/10.11648/j.ijfbr.20180401.12},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.ijfbr.20180401.12},
      abstract = {This study aims to analyze the awareness and perception of Malaysian Small Medium Enterprises and start-ups on the existence of alternatives financing channels such as Peer-to-Peer lending and crowdfunding in supporting the growth and expansion of their business in the future. Results indicate that, at present, the level of awareness of most respondents is still insufficient on Peer-to-Peer lending and crowdfunding as alternative financing instruments. However, based on the perception results, a majority of them have a slightly positive response or perception to the development of FinTech. These results suggest that there is a need and opportunity to raise awareness among Small Medium Enterprises and start-ups by authorized government related body.},
     year = {2018}
    }
    

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    T1  - Awareness and Perception Analysis of Small Medium Enterprise and Start-up Towards FinTech Instruments: Crowdfunding and Peer-to-Peer Lending in Malaysia
    AU  - Nasrul Hakim Ghazali
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    DO  - 10.11648/j.ijfbr.20180401.12
    T2  - International Journal of Finance and Banking Research
    JF  - International Journal of Finance and Banking Research
    JO  - International Journal of Finance and Banking Research
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    UR  - https://doi.org/10.11648/j.ijfbr.20180401.12
    AB  - This study aims to analyze the awareness and perception of Malaysian Small Medium Enterprises and start-ups on the existence of alternatives financing channels such as Peer-to-Peer lending and crowdfunding in supporting the growth and expansion of their business in the future. Results indicate that, at present, the level of awareness of most respondents is still insufficient on Peer-to-Peer lending and crowdfunding as alternative financing instruments. However, based on the perception results, a majority of them have a slightly positive response or perception to the development of FinTech. These results suggest that there is a need and opportunity to raise awareness among Small Medium Enterprises and start-ups by authorized government related body.
    VL  - 4
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Author Information
  • Graduate School of Engineering Management, Shibaura Institute of Technology, Tokyo, Japan

  • Graduate School of Engineering Management, Shibaura Institute of Technology, Tokyo, Japan

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