Business Exit Research Concept Paper Among Small and Medium Enterprises Entrepreneurs in Malaysia

Abstract

The phenomenon of exiting a business is one of the critical phases for entrepreneurs because this action indicates the end of a business. Strategies to exit business including ownership transfer, firm sale and liquidation. There is a lack of research on business exit phenomenon through business sale in Malaysia, thus, this concept paper aimed to discuss the exit of SME entrepreneurs via this specific route. The paper assesses secondary data from many databases (Google Scholar, Science Direct, Springer, and Wiley) between 2006 and 2020. Based on 11 collected findings, business exit phenomenon was revealed to be an essential part of the entrepreneurial development process. Understanding of exit business route is imperative to explore novel opportunities in business that would enable them to improve the growth and profitability of their business. Therefore, this paper concluded, it is crucial for entrepreneurs to be alerted on this phenomenon as it would help them to plan business exit more efficiently.