Malaysia is an economic development country that is less developed than Singapore. Population density is lesser than in many Asian countries. Let see how do invest before start discussion about how to start a business in Malaysia? As this is an attractive country and being admiration is less corruption that inspires foreigners to invest. The greenery scenario eye catchy when entering into the main city from KL airport. Taking care of every hills and jungle by government eye-catchy by the tourist. Government of Malaysia really love the country that is evidence of taking care of every asset. Start a business in Malaysia is not tenser than Singapore. You know major goods are exported to Singapore being a neighbor country. It is a good opportunity for export business those goods have demand in Singapore market.
1. Business Plan and Idea
Make the right decision why do investment in Malaysia and what is the potential market? Idea and plan make businessman easier to success. The SWOT analysis will let your plan success. You know the Strength, Weakness, Opportunity, and Thread of your product and market. Set the price of product considering operation and competitors costing. Move business in a less competitive market place to make healthier the root. Everyday sort out weakness and threat and overcome at soonest.
2. Legal formalities
At first, contact the expert who can guide as your nature of the business under FDI law. Start Sdn Bhd business as no residence by investment capital of Ringgit 3000. Propose some names of the company and let secretary check for reservation. One shareholder is the requirement to start a business through SSM. Company name reservation government cost is Ringgit 50 only. Whereas Sdn Bhd registration cost is Ringgit 1010. Secretary appointment, professional, virtual address and bank account charge are separate than government fees. The estimated total cost of Ringgit 4000 to start and registration of business. There are some other licenses require additionally like signboard and premise. Export, import, Halal, WRT and ministry permission needs as nature of business. Time of Sdn Bhd business formation will take not more than 5 days.
3. Require investment capital
If you are planning to start a business in Malaysia is recommended for the capital Ringgit 500000. There are many costs included as legal formalities, office rent & operations. Those are small and medium business ideas in Malaysia can estimate a budget of RM 500, 000. Increase budget up to 1 million in case of big investment business. But, this is a matter of joy that any eligible investors can open a business by cost and investment of Ringgit 4000.
4. Risk and gain
You may know ins and outs about how to start a business in Malaysia as foreigner and local. Start a business in overseas is not the same as doing business in own country. Who knows well is easier to do business than an unknown person. Business is not risk-free but talent businessmen will sort out risk factors and work to minimize risk level. Hard work and more study are piles of gain.
How to Set up a Business in Malaysia by Online?
In 2019 and onwards, people of this generation unlike to go outside and buy necessary goods. Rather, order by online and receive the same within a timeline. Time value is more important than money. The following items can start a business in Malaysia by online:
- Foods and snacks
- Daily green market
- Fruits and drinks
- E-commerce business
- Start books shop business
- T-shirt and cosmetics business
- Baby shop
- Ticket selling business by online
- Tourism package
- Taxi and car rent
- Hotel booking
- Doctor and patient service
- Fridge, TV, Air-condition order by online
- Meat order by online
- Select home tutor
- Housekeeper and cleaner order by online
- Furniture choice and order by online
- Gift items online shop
- Consultancy business
- Office and house rent choice and order online
- Games site
- Watch movie and drama by online
- Buy car and motorcycle through online
Tips 1: Build an excellent website as need and start business.
Tips 2: Product quality and deliver assurance
Tips 3: Strong customer service support
How to start a business in Malaysia by low investment?
You have passed under graduation you need money. How to start a business in Malaysia by low capital? Doing business by small capital is a good source of income. You can start a business as follows:
- Cosmetics sell through online
- Games business upon contract with games merchant
- SEO and Online marketing for third party
- Gift items sell by online
- Build website as area base to start rent to-let business
- Sell daily goods in your area by online
- Take order of multiple design T-Shirts through online
There are many ideas starting a business in Malaysia by low investment for foreigner and local. Study a lot on that business is going to start in Malaysia. Never hurry towards profit within 6 months from business startup. Let, 3 similar shops across doing business but one’s sale is higher than others. Is your business located near the condominium or tourist area? Is your business location far from the right place? Are you doing the right marketing to sell the goods? Every day is important for your business and use time properly.
Never neglect small business to start like office letterhead, paper, seal, signboard and big size photocopy business. Never neglect key maker and key selling business. You make a plan on how to start a business like the nature of your business. Business location is important never ignore. Spa, massage, the parlor is good items to business in Malaysia.