Comparative Study on Regulatory and Policy Frameworks for Promotion of Startups and SMEs in Japan, The Republic of Korea, Malaysia, and Thailand

Abstract

The vital factors which can facilitate the development of startups and SMEs in markets are appropriate regulatory and policy frameworks. However, there are differences in the frameworks that may contribute to different levels of development in startups and SMEs in Japan, the Republic of Korea, Malaysia, and Thailand. This paper thus focuses on a comparative study of these frameworks in order to identify possible challenges among the frameworks in those countries. The paper shows that governments in those countries adopt similar regulations and policies that help stimulate the creation of startups and SMEs. The paper presents a comparison of the frameworks in those four countries. The paper also reveals that there are challenges in the regulations and policies for startups and SMEs in Japan, the Republic of Korea, Malaysia, and Thailand.