Risk Management of Start-up Business for SMEs: A Review Paper

  • Siti Nadhirah Mohamad Fauzi Faculty of Business and Management, 21300 Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, Malaysia
  • Puspa Liza Ghazali Faculty of Business and Management, 21300 Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, Malaysia
  • Roslida Abdul Razak Faculty of Business and Management, 21300 Universiti Sultan Zainal Abidin, Kuala Nerus, Terengganu, Malaysia
  • Eni Noreni Mohamad Zain Faculty of Entrepreneurship and Business, Universiti Malaysia Kelantan, 16100 Kota Bharu, Kelantan, Malaysia
  • Norhilmi Muhammad School of Core Centre, Universiti Sultan Zainal Abidin, 21300 Kuala Nerus, Terengganu, Malaysia
Keywords: Risk Management, Start-Up Business, Small and Medium Enterprises (SMEs)


Nowadays, SMEs plays a vital role in economic growth in Malaysia because it is the largest category of business in Malaysia. Therefore, many Malaysians, especially young generations, are involved in this area as they believe that entrepreneurship can help them improve their living standard and income level. Besides, the government support become one of the factors why young Malaysian people want to be an entrepreneur. However, many successful entrepreneurs in Malaysia struggled to survive because of some risks and challenges that they need to face. Therefore, this paper aims to study previous papers regarding the importance of risk management in start-up businesses. This paper found that protection of insurance/takaful and mathematical risk index is an essential tool that can help the entrepreneur manage and measure the risk in entrepreneurship.  


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How to Cite
Mohamad Fauzi, S. N., Ghazali, P. L., Abdul Razak, R., Mohamad Zain, E. N., & Muhammad, N. (2022). Risk Management of Start-up Business for SMEs: A Review Paper. The Journal of Management Theory and Practice (JMTP), 3(1), 67-72. https://doi.org/10.37231/jmtp.2022.3.1.215
Finance & Economics

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