Online Business opportunity in Malaysia
Malaysia is a perfect place for starting and doing online business, especially if you are bored about nine to the five-day job and every day you are doing something that you are interested. There is lots of online business opportunity in Malaysia and with online you may have the opportunity to work from home and be your own boss.
Additionally, you do not have to quit your full-time job for exploring the online business in Malaysia. Online business opportunity may allow you to start with a very low budget part-time business and you may even need a physical address in Malaysia. For exploring the online business, you may just have to have an internet connection and PC or mobile devices. So why not try it and explore online business Malaysia opportunity.
There are much successful personnel in the modern world that explored the online business opportunity and got a fortune. Mark Zuckerberg from Facebook, Kevin Systrom from Instagram and Jack Ma from Alibaba are few among them. You may also explore Online business Malaysia opportunity with very little budget, effort and time. Indeed, the online business requires much more resource to maintenance in a later stage than just to start up. In this article, we are going to discuss the online business Malaysia opportunity and learn about the process of starting your own online business in Malaysia.
How do I start an online business in Malaysia?
You should follow a few steps for starting an online business in Malaysia:
At first, you have to decide the types of business may interest you and the types of product or services you may wish to sell. The nature of the business you choose becomes very important in later stages in online business. There are a few options available where you may choose. You may choose to sell any physical products such as phone and phone accessories, computer and computer-related accessories through an e-commerce website.
You may also go for the digital product niche and sell e-books and other digital media such as image, audio and video files. You may also start selling the business products from other companies and receive a commission as an affiliate marketer or re-seller. If you find it difficult to choose the nature of business then you may always ask yourself the question “Why would I like to start an online business?” You should write down the plan, vision, and mission of your future business and that may help you to find the right business category for you.
The second step of starting an online business is to register your business name and register the business itself with SSM. We should discuss these in details to the next segment of this article “How do I register my online business in Malaysia?”
The third step of setting an online business is to build a website (or Apps if required), receive hosting, domain names, and email address for the business. This step is very important as it works as the visible face of your future business. What is a domain name? The domain name is a web address similar to your shop address.
The difference is that it does not have road and house number. Instead, the domain name contains custom wordings such as www.abc.com. Please note that, after you complete your registration you may receive a unique registration number or unique ID and with this, you may register for .com or .my. This makes your website more localize and provide more credibility in Malaysia.
Now, what is Hosting? Simply if the domain name is the name of the house then the hosting is the space inside the house. Hosting is the space that you may take as rent and store your files inside. In your future website, you may have many dates such as the text, image files, audio and video files etc. so you need to store these for displaying it to your customers. Therefore, you need to host these data into a rental space and that known as hosting. If your site got many data then you may require rent bigger space means bigger hosting fees. However, initially, you may not require having a larger hosting.
There are many web-hosting companies in Malaysia from where you may receive the information regarding the financial requirements. Additionally, you should have a business email address, where the customers make contact with you. Initially, you may begin with a free email address. However, please note that the research shows that the customers believe more in domain name related email address than the free email address.
The next step of business is to design your website and add unique content to your site. Usually, after making payment for the hosting, it may take only 1-2 hours to activate the site. Then you may start building your website. It is better to produce unique contents, graphics, and design ideas beforehand. If you got knowledge in web design then you may design the site by yourself. Nowadays there are many templates available for making beautiful websites.
New online business in Malaysia faces the most common problem of not getting enough visitors and not getting enough sales. This is happening because people do not know your business yet and it is your responsibility to reach your customer by making proper advertisement and promotion work.
You have to let your customer know about your product, offerings, and the benefits. You may do this by using various online advertising platforms such as a Facebook advertisement, Google Ad words, also email marketing and SEO (Search Engine Optimization) work. You may also go for the traditional advertisement method and put an advertisement in television, radio, posters, banners, signboard etc.
However, this may prove more expensive from the online marketing tools mentioned earlier. Please note that your site should include the shopping cart software for providing the customer with a better shopping experience. Additionally, you should also have a payment gateway system by which you may receive payment from your customers. There are few payment gateway companies working in Malaysia such as the PayPal, Ipay88 or MOLPay.
These are the trusted payment gateway system and the customers do not hesitate to buy your products by using these services. Another issue to consider is the shipping of your product. If your product takes a long time to reach your customer or shipping cost is higher then the potential customers may not buy from you. If your delivery volume is high then you should consider appointing a shipping service provider in Malaysia such as Pos Malaysia.
If you do not want to have a website and sell your product then you may choose to sell in a various third-party website such as Amazon, eBay, Etsy, Facebook, long etc.
How do I register my online business in Malaysia?
New e-commerce business owners may not sure about why they have to register the online business as they are doing it part-time or just as a hobby. Some online business owners earn from the advertisement from their website or blog. The fact is, in Malaysia, all the online business should comply with the Malaysian consumer protection regulation that introduced in 2012. This segment of law is a part of Malaysian Regulation and Consumer Protection of E-commerce and online Business.
So according to the law in Malaysia, you have to register your business even if you are selling your products on social networking sites such as Facebook or Instagram. If any business in Malaysia fails to comply with the law or the registration requirement in Malaysia then they may face a maximum fine amount of RM 50,000 or two years in jail.
The cost of registration business in Malaysia only takes RM30 and Online Business Malaysia Registration is a simple process. Regardless of the type of business, you do in Malaysia; you must register your business with SSM. If your business has something to do with the telecommunication industry then you have register with MCMC (Malaysian Communication and Multimedia Commission) department of Malaysia. Additionally, you need to register with the revenue board of Malaysia and declare your income.
There are a few options available for the Online Business Malaysia Registration. A sole proprietorship is the economic one and you may choose the partnership or company type business as well. Insole proprietorship business type, you run the business along and you got unlimited liability for your business. For registering sole proprietorship business, you have to pay RM 30/year. If you run your business with more than one partner then you may choose the partnership type business vehicle and this may cost you RM 60/year.
You and your partner share the liabilities of your business. In the future if you or your partner is willing to stop or abolish the business then you may require registering a new business. You may also start a company type business and have a separate legal entity for your business. However, the process of starting a company is complicated than the sole proprietorship and partnership type business.
Online business ideas Malaysia
In Malaysia, there are numerous possibilities of starting and doing online business. Here we are going to discuss a few online business ideas in Malaysia.
1. Start an e-commerce site
The e-commerce business is getting popular day by day and if you want to sell your product online then you may begin an e-commerce site. Starting an e-commerce business in malaise is not hard and not even expensive. Many service providers such as the Shopify may provide you with an e-commerce site within an hour. However, you may require providing a monthly or yearly subscription plan for getting their services.
2. Drop shipping Business in Malaysia
Drop shipping bit different from the e-commerce site. In drop shipping business, you work as the third party and receive a commission for handling the product. Therefore, you do not require any inventory or any investment for buying the product. Rather you just collect the product from local suppliers and place it to your customer.
3. List product with Malaysian Online Marketplace
If you do not wish to continue with an e-commerce site then you may even sell your product online with at Malaysian online marketplace. You may use the online marketplace in Malaysia such as the eBay, Facebook, Amazon, lazed etc. there are many mobile apps for selling product online such as the shop or carousel etc. some application may charge you an amount for registering your product.
4. Blogging and use of Google Ad sense
Blogging is popular nowadays and you may start earning by writing a popular blog. You may need to persistent with regular updates. Most popular blog topics include travel, fashion, pet, food, technology. If you make your blog popular with creative writings then the next step is to open Google ad sense account and insert the code of ad sense into your blog header or at sidebar. Then you may start earning from the people visiting your site.
There is much other Top online business in Malaysia, which you may begin today. In below the list shows the top online business ideas Malaysia.
- The online affiliate-marketing program
- Making online course and earn by teaching
- Writing and selling eBooks
- Making graphics for the organization
- Doing SEO work
- Building an online forum on a specific topic
- Building job portal
- Make video fro YouTube.