7 Profitable business opportunities in Malaysia
The Malaysian economy is inclined to grow in 2020 with the country`s GDP expected to reach 4.9%. This growth is supported with the leading trends of the growing number of housing units, increased imports of semiconductors along with increased imports of precious and non-ferrous metals.
Industry, wholesale and retail trade, and services are the
sectors that are expected to grow in 2020 at a moderate rate with a confidence an indicator at +5.9%. Expectations of businesses are optimistic as the country
has shown positive business conditions over the last few years and these trends
are growing stronger year on year.
Thus, the allure of Malaysia is quite understandable and is
felt by many. This is what which makes this nation a hotbed of business
activities and centre of excellence. If you are tempted to form a company in
Malaysia, and want to explore your opportunities than here are some of the most
profitable business ideas for you to consider before you take the
plunge and go for company setup in Malaysia.
List of profitable business ideas in Malaysia
Here is a myriad selection of business opportunities through
which you can also enter the competitive, exciting and rewarding Malaysian
market:
Home-based Business
There are a lot of business ideas that do not require you to
get up every morning and go out to work.
Here is a list of home-based
businesses that you might want to consider-
- Laundry business
- Elderly care or Child care
- Bookkeeping & Accounting
- Parlour and Spa
- Tutor Guide
- Bakery
Tourism
Malaysia is one of the top ten tourist destinations and
tourism sector is a significant contributor to the nation`s economy. The number
of tourists visiting Malaysia is increasing year on year which makes this an
attractive and profitable sector. Even if you don`t have a big budget, you
still can establish a small restaurant or café with a theme that caters to
tourists or you can invest in a small food truck and be a part of the vibrant
street food culture of Malaysia.
Food and Beverages
As tourism grows, the number of hotels, restaurants and
cafes also increase. With this, a business that supplies food and beverages to
such establishments is a profitable one as eating and relishing in good food
and wine never goes out of style. The capital required to start such a business
is also not too hefty if you want to start small.
Travel agency
The number of tourists is increasing in Malaysia and there
comes the need for a travel agency that can cater to the needs of the
increasing number tourists and show them around the most famous locations or
the most underrated and yet extremely beautiful locations in Malaysia. It can
be either a small business venture or a big one depending upon your investment.
It is not necessary that you have to go big like Uber. A small travelling
agency would also bring in a huge return on investments.
Fashion Business
Malaysia has the potential to emerge as a fashion capital as
the Malaysian designers are exploring their potential actively. It is not as
big as some of its neighbours but the fashion industry is growing steadily in
this south-east Asian nation. New designers are continuously entering the
fashion industry each season with fresh designs and perspectives. If you have a
creative soul and want to try your hand in the fashion industry then start now.
Online Business
The internet has provided a plethora of opportunities for people to start an online business and connect with customers without the use of
middlemen. You can offer cloud software service to businesses, start an
e-commerce website, create a digital payments platform, design websites, become
a professional blogger or do affiliate marketing. You can make a lot of profit
simply by sitting behind a desktop in the comfort of your home.
Microfinance Services
Malaysia has countless micro, small and medium enterprises
and many of them still lack proper access to basic savings and credit services.
Here, comes the need for microfinance service providers. You can start a
microfinance institute if you have enough capital and if you have knowledge of
banking and finance. Malaysia has become a business hub and to support business
people require finances which makes microfinance business a perfect venture.
These are just a few business opportunities available in
Malaysia and there are plenty more for you to pick one or maybe two to get
started in the exciting and competitive world of business. Once you have
decided what kind of business you want to pursue, have a good idea in your mind
along with a proper laid-out business plan so that there is no room for
confusion later on.
If you require help in terms of Malaysian company registration,
experts at business setup worldwide can help you out with it and many more such
services if you choose to opt for them. If you want to reach out to us, you
may contact us any time you want as per your convenience.
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