With its unique position right in the heart of Asia, starting a business in Malaysia is one of the best decisions you could make for your business. Strategically position next to many of Asia’s other leading markets like Singapore and Indonesia, Malaysia’s strong economic growth and stability has been a source of major attraction over the years.
Any ambitious entrepreneur is sure to find what they’re looking for right here in Malaysia. But the question is, what types of businesses in Malaysia can you get involved in? If you’re considering such an opportunity, then the types of businesses listed below could be a great place to get started.
Travel Agency Business
Once again, Malaysia’s strategic location proves to be very lucrative indeed. As an international business hub, Malaysia sees hundreds of thousands of people travelling in and out for business purposes yearly. It has no shortage of tourists either with many exciting places to explore. Whether for business or leisure, a travel agency business is in demand. With a low initial capital required, starting a travel agency business in Malaysia is a great option to consider.
Closely linked to the travel industry too, consider starting a hotel business in Malaysia if you’ve got a passion for the industry. Because Malaysia hosts thousands of tourists each year, you’ll find it easy to run a thriving business if you play your cards right. There is even a market for online hotel booking businesses if you want to consider going down the online business opportunity in Malaysia pathway.
There is no place like Malaysia when it comes to delicious cuisines which are sure to delight your taste buds. Locals and foreigners alike love eating out and there’s no shortage of food options to choose from. From fine dining to local street food, starting an F&B business could be your calling.
Starting an ecommerce business in Malaysia is another popular option to consider. Even if you don’t have a shopping website setup of your own, you can still make this one work. Malaysia has several reputable online shopping websites which have a lot of business and traffic going on each day. Examples of these sites would be Zalora, Lazada, Shopee and Best Buy where you can quickly setup an account and start selling your goods.
Starting a childcare business in Malaysia is another one of the list of business ideas in Malaysia which you could think about venturing into. Many parents are starting to realise the importance of early childhood education, and thus there is a growing demand for quality childcare services that needs to be met. If you’ve got the capital and the passion, this is one business idea which could prove very lucrative.
Fashion and Retail Business
Malaysians love their fashion. You simply need to walk into any mall and you’ll notice that fashion boutiques bustling with customers eagerly scouting for the latest fashion trends. If you’re considering setting up a retail business in Malaysia, conduct some research and look into what the locals like so you’ll know what there is a demand for.
Microfinancing Services Business
There’s always companies out there in need of funding and financing. With more people eager to fulfil their dreams of being their own boss, new businesses are continuously springing up. If you have the capital needed to help these entrepreneurs get their business off the ground, this could be the venture for you. It is advisable to have some background or knowledge in banking and financing to start this business option.
Professional Services Business
If you’ve got a specific niche of expertise, like accounting for example, you could think about starting a professional services business in Malaysia. With new companies emerging every year, there is a need for professional services to help these businesses survive and thrive. Which makes professional services business one of the best small business ideas in Malaysia you could think about starting.
Other Small Business Ideas in Malaysia to Consider
Other small business ideas in Malaysia which you can consider include:
- Photography business
- Personal computer and smart phone repair services
- Food truck business
- Custom t-shirt printing business
- Mobile phone accessory business
- Pet related business
- Affiliate marketing business
- Freelance services
- Laundry service business
- Café business
Key Factors to Note When Starting a Business in Malaysia
All businesses in Malaysia must be registered with the Companies Commission of Malaysia. They are known locally as the SSM, and they oversee the registration of all companies in Malaysia while ensuring that compliance requirements are met.
Investors will have several business entity options to choose from for their Malaysia company registration. The most popular option is a private limited company, also known as a Sendirian Berhad (Sdn Bhd) company. This is among the most preferred options because it is considered a separate legal entity. The personal assets of the investor are protected. This entity option is suitable for both foreign company setup, as well as business setups by local residents in Malaysia. This business entity is also popular for its perpetual successions option.
Other forms of business entities in Malaysia include a company limited by guarantee. With this entity option, the liability of the members is limited to the amount they respectively undertake during the formation of the company.
A public limited company is another commonly used business entity option. With this setup, the shares of the company can be put up for offer to the public for a fixed period of time. Other entity options include sole proprietorship, which can be setup for a much lower registration fee than the previous options.
Why Choose Paul Hype Page & Co
Starting a business in Malaysia can truly be a rewarding experience. Especially when you’ve got the expertise of a reputable firm like Paul Hype Page assisting you every step of the way. With our one-stop services and packages, you’ll find all your needs for your business setup in Malaysia easily met under one roof. Contact us today and let’s get you started on your new Malaysian venture!
Paul Hype Page & Co – SSM service provider and Asean Chartered Accountant.
Paul Hype Page & Co. have 3 physical offices in Singapore, Malaysia and Indonesia
Our Firm Goal is to assist Foreigner and Foreign Companies to set up business in Asean.
How we can help you:
Step 1- Listen to your Business plan and Relocation needs.
Step 2- Analysis your Malaysia Tax Planning
Step 3- Recommend the most suited type of Company Incorporation, Open Bank account and Work Visa
Step 4- Arrange for your Spouse and Children Visa
Step 5- Assist as your company to hire staffs and handle all HR matters
Step 6- Every financial year end, we assist you with your yearly SSM Finanical and Tax Compliance
Step 7- Assist you to expand business to Malaysia, Indonesia, Vietnam and Thailand.
Get in Touch with Us Today.
Paul Hype Page