Does Early Phase Of Business Cycle Moderate Small Business Success? Empirical Evidences From Malaysia
The purpose of this research is to assess the moderating effect of enterprise early phase in financial practice
towards business success in Malaysian small business. The early phase is defined via length of operation of an enterprise. To
achieve the research objectives, this study employed survey method where the enterprises with a different length of
operation were considered for the analysis. In fact, a sample of 302 data was evaluated as the final sample size for the
current research. Using Structural Equation Modelling (SEM), moderating effects were observed to test the hypotheses. The
results indicate that, the enterprise early phase does have different moderating roles in financial practice to guide the
business success in Malaysian small business. Thus, this research conveys an understanding to the entrepreneurs regarding
the differences of enterprise early phase to achieve the business success swiftly. Finally, this research brings some
implications to the policy makers and regulators as well.
Keywords— Enterprise phase, Business Success, Malaysian Small Business.