Explore ability of the success and failure factors of street food sector in area of Kuala Lumpur Among entrepreneurs

Abstract

This abstract explores the factors that contribute to the success and failure of entrepreneurs within this sector. Utilising qualitative research methods, including interviews and observations, data were gathered from street food entrepreneurs operating in Malaysia's coffee sector. Using a qualitative method by interview approach, data was collected from the entrepreneurs to assess their roles, challenges and suggestion to their business. Conversely, several factors contributed to failures within the street food entrepreneurship realm to lack of business planning. Other than that, inadequate financial management is also part of the failures. Mismanagement of finances, including poor budgeting and cash flow management, resulted in financial strain and eventual closure for some businesses. Intense competition within the coffee sector, coupled with market saturation in certain areas, made it challenging for some entrepreneurs to sustain profitability. This abstract highlight the complex interplay of factors influencing success and failure among street food entrepreneurs in Malaysia's coffee sector.