For many, starting a small business or entrepreneurship is an unbelievably frightening task. Yet, the month of Ramadan could very well be the best place to begin your entrepreneurial voyage.
Getting started on a business or a venture almost always requires some amount of personal capital to be hoisted into the initial start-up fund for the business to have some chance at succeeding. The Holy Month of Ramadan always this somewhat by almost guaranteeing that whatever business you initiate, provided it’s situated at a convenient location for consumers, will bring in profit.
Take for example, the most common business undertaken by young Malaysian entrepreneurs during Ramadan; small food stands. Because the average worker is likely to have their hands tied with work, the thought of coming home to complete household chores AND prepare the evening meal often proves to be too big of a burden after an entire day of not consuming food or liquids. This is where small food stands fill a very vital role. With daily rent as little as RM 30, small food stands is a fantastic way to try your hand at running a small business with little to no consequences. One can purchase cheap ingredients, rent an umbrella, and reel in a friend or relative who knows how to cook and voila! You’re running your own small business.
While it may seem inconsequential, our Malaysian economy is almost entirely dependent on small businesses operating efficiently across the entire nation, especially in rural Malaysian communities.
Running a small business is about much more than simply earning a bit of extra cash; it instills a sense of accomplishment and more importantly, ignites the entrepreneurial flame within. According to a PEW research paper from 2011, nearly all successful entrepreneurs began by starting small, minuscule businesses at an earlier age – it is this trend that likely breeds successful, accomplished business people in the future.