Business Time – Business Ideas in Malaysia
3E Accounting offers a pocket guide to the best business ideas in Malaysia to bring out the entrepreneur in you.
Malaysia is an exciting place to start a new venture. It has a vibrant economy and a flexible business culture that is friendly to all investors. The global pandemic has undoubtedly changed the way we live and work. In Malaysia, as in countries around the world, business ideas have been going through a metamorphosis. If you’re keen to be your own boss, there are many business ideas in Malaysia worth exploring. Here’s some for you to consider.
If you have a specific talent, then consider becoming a Professional Services Consultant. This would be highly suitable for Accountants, Writers, Graphic Designers and Web Developers. Specialities can also include Feng Shui Consultants, Photographers and especially, Cleaning Specialists.
E-commerce has taken the world by storm, and it is one of the most trending ways to do business right now. You can start by being a Dropshipper, a Digital or Affiliate Marketing Consultant, and move on to Wholesaling and Subscription Services.
Childcare & Elderly Care
Minding children and the elderly is a business that can be tough. It has a high duty of care but can undoubtedly be rewarding. While babysitting children is a common enough business, elder care is catching up. There is a lot of demand for day helpers to mind elder folk and provide companionship. Setting up Hospice Care for the Elderly is also an idea worth exploring.
Microfinancing & Angel Investors
If you have access to capital, then this may be the business for you. Start-ups are always on the look-out for funding. However, due diligence is still necessary, and it would be advisable if you had some financial background to draw upon as well.
Food & Beverage
This is a popular business activity, and competition is stiff. It helps to have an original idea or a novelty such as a fusion Food Truck offering Mexican-Korean fast food. Starting an Office Catering Business is also viable and can provide an excellent fixed monthly income. There’s also some demand for chefs who can rework recipes to highlight client products and do food styling.
The market may be a bit down, but it’s certainly not out. Eventually, travel will restart again, and when it does, you will be ready. Consider starting a Travel Agency specialising in novelty tourism such as ethnic staycations, etc. Similarly, Hotel Businesses can be themed, such as Peranakan, offering themed food, activities and even masquerade parties.
An Alliance That Makes It Work
Malaysian businesses do need registration and licensing from the proper authorities in order to carry out their business activity legitimately. Professional business consultants such as 3E Accounting can help you get started the right way. Let the professionals handle all compliance issues while you focus entirely on your business ideas in Malaysia.
Contact 3E Accounting today to speak to our consultants about the best business solutions available.