Housewives Thrive in Informal Economy: Opportunities, Challenges, and Prospects

Abstract

The informal economic sector in the country is moving towards a more dynamic and competitive economy. This sector is significant because it can help generate economic growth and provide housewives with employment opportunities. The informal economic sector includes unregistered and unregulated, but not illegal, business activity. The informal economic sector's concept and characteristics, such as accessibility, low capital utilization, and small operating levels, have made it thrive among Malaysia's housewives. The increase in the number of housewives in entrepreneurship shows that they are mature in running a business. Thus, it can be seen from the perception of housewives the factors of the challenges faced by housewives in running their business, the opportunities in their business operations, and the prospects for such success, focusing on four aspects: human capital, social capital, financial capital, and psychological capital.