This post is also available in: Melayu (Malay)
Looking for a Sign to Embark on Your Start-Up? This Is It! Learn More on Malaysia Startup Today
Starting a business in Malaysia is the right place as the country is a melting pot, with rich, diverse cultures and traditions. The nation’s strong economic prospects and significant investment programs make Malaysia an attractive location for overseas investors. Considered one of the top financial hubs in South East Asia, Malaysia’s government consistently provide opportunities and incentives for investors and new entrepreneurs. If you know you’ve got a one in a million idea, it’s about time to put that thought into a blueprint. Start your Malaysia startup journey today. Find out more below.
How Do I Get My Business Started?
An entrepreneur needs to be on their toes at all times because of the challenges that they will face, and it requires a variety of skill sets to be able to cope with the tasks. Starting a business and a startup are two different things. Most people desire to have giant companies that make millions or billions, but every good entrepreneur have to start off as a small business or startup first.
Starting your business is somewhat similar to bringing up a child. There will be months of planning and preparation so that the execution will be smooth and seamless. And as you’re nurturing and feeding to make sure he or she grows big and healthy, it is similar to growing a business. Long-term planning is imperative because as an entrepreneur, you will be judged on how your business grows and how it has developed. Parents are often measured by how well their children turn out. Similarly, business owners and entrepreneurs are also judged on how their business end up. It is vital to get started right in order to sustain your business and thrive in the long run.
Why You Should Start Now
Like most countries, Malaysia has been affected by COVID-19, but there is always a silver lining in every situation. Some outstanding reason you should start a business in Malaysia is because of these policies and systems put in place.
Lower Income Tax for Corporate Entities
Compared to some other significant countries, Malaysia’s corporate income tax is relatively lower, and the government has been positively introducing and executing business policies. The country’s financial sector supports various kinds of investors, and financial business problems can be settled quickly via the state or federal government, as well as local authorities. Malaysia’s banking system is also flexible, which makes it easier for foreigners to have more than one currency account.
Developed Infrastructure and Workforce
As a foreign entrepreneur, it may be slightly daunting and challenging to kick-start a business in a new country, especially in dealing with clients and customers. Nevertheless, thanks to a Malaysian workforce that are highly educated, they have the necessary skills required by a company to work properly. They can deal with local customers. Malaysia’s infrastructure in the last few decades has also grown into an effective logistic hot spot. With excellent transportation access, it is easier to receive and deliver products and services to other parts of the world.
It’s Time to Start Up Your Startup
Embarking on your business journey and starting up can be a seemingly daunting task. Therefore, be sure to always make your research before beginning your venture. You can also choose to get additional help in jumpstarting your new business, such as consulting corporate experts and getting your dream business up and running.