Youth-owned establishments generated RM80.7 billion in gross output across 71.1 thousand establishments in 2022.

The Economic Census 2023 showed that in 2022, a total of 71,112 youth-owned establishments were recorded in Malaysia, representing 6.5 per cent of the 1.09 million number of establishments. These establishments employed 374,843 persons engaged, equivalent to 3.7 per cent of total 10.0 million persons engaged. Salaries and wages in youth-owned establishment amounted to RM12.0 billion, accounting for 3.4 per cent of the national total.

The national gross output for youth-owned establishments was RM80.7 billion, representing 2.1 per cent of the total. Intermediate input stood at RM35.9 billion, comprising 1.5 per cent of the total RM2.35 trillion, while value added reached RM44.8 billion, or 3.0 per cent of Malaysia’s total value added.

Fixed assets owned by youth-owned establishments amounted to RM32.2 billion, representing 1.6 per cent of the total RM2.06 trillion in fixed assets owned by all establishments nationwide. The services sector was the largest contributor among youth-owned establishments, comprising 97.6 per cent of the total number (69,450 establishments). This sector also generated RM69.4 billion in gross output (86.0%), RM11.3 billion in salaries and wages, and RM30.2 billion in fixed assets (93.7%).

Selangor recorded the highest number of youth-owned establishments, with 19,888 establishments (28.0%), contributing RM36.5 billion, or 45.3 per cent of the total gross output by youth-owned establishments nationwide.

In conclusion, although youth participation in the economy remains relatively modest, these statistics highlight the important role and significant contributions made by youth entrepreneurs across various economic sectors, particularly in the services sector. Efforts to support and empower youth-owned establishments must be continuously strengthened to address post-pandemic challenges and to foster inclusive and sustainable national growth.