Socio-Cultural Factors and Intention towards Sustainable Entrepreneurship
Keywords:Culture, Entrepreneurship, Intention, Social, Sustainability
In order to rectify environmental degradation, government has encouraged sustainable management among businesses. In addition, researchers have also suggested a new breed of study called “sustainable entrepreneurship”, which links sustainability management to entrepreneurial activities. However, the participation of entrepreneurial firms in sustainability management is still far from satisfactory. Past studies also have found that SMEs are less active in sustainabilty initiatives and many issues related to the intention of firms for sustainability entrepreneurship is still unanswered. Therefore, this study was carried out to examine the influence of socio-cultural factors on intention towards sustainable entrepreneurship among SMEs. A total of 404 SMEs in Malaysia were surveyed by using questionnaire. Based on the statistical analyses performed, this study found that three socio-cultural factors, namely time orientation, sustainability orientation and social norm significantly influenced intention towards sustainable entrepreneurship among SMEs. Thus, in order to develop true sustainable entrepreneurs in the country, the effects of non-economic factors such as socio-cultural factors should not be underestimated. Lastly, some recommendations for future researchers have also been put forth in this paper.