Individual Characteristics of the Successful Asnaf Entrepreneurs: Opportunities and Solutions for Zakat Organization in Malaysia

Abstract

The objective of this study is to explore the characteristics of successful entrepreneurs that have received financial assistance under the scheme of “Entrepreneurial Asnaf”. Based on the 39 respondents selected randomly among successful Entrepreneurial Asnaf, the findings revealed that the successful Entrepreneurial Asnaf have a certain level of entrepreneurship orientation, willing to take some risk to expand their business and possessed unique marketing strategy. In addition, they have certain level of creativity in business area, always visualise that one day their business will be successful and they are proud of their business. The results also show that successful Asnafs have an above average level of product innovation. This study is important to facilitate Zakat Organization in identifying whether the Asnaf committed and had entrepreneur feature before allocating capital assistance to ensure the success of “Entrepreneurial Asnaf Programe”.

Key words: Successful entrepreneurs; Entrepreneurial Asnaf programme; Zakat organization