smart business ideas in malaysia

The 57 Best Business Ideas To Start In Malaysia [2024]

Interested in starting a business in Malaysia in 2024?

We put together 57 of the best businesses you can start in Malaysia today.

In this list of ideas, you can find:

• Home-based businesses to start in Malaysia
• Profitable online business ideas
• Unique business opportunities for Malaysia
• Low investment business ideas (under $5k to start)
• Easy businesses you can start in Malaysia today

For each business idea, we’ll show you real-world examples, revenue expectations for each idea, + a step-by-step on how to start your small business in Malaysia.

Here's the full list:

1. Start a video production company

A video production company (VPC) also known as a video production agency or film production company, creates videos for clients to use in their marketing strategies. These videos can be commercials, online ads, product showcases, corporate videos, and employee training videos.

How much you can make: $10,000 — $1,500,000/month

How much does it cost to start: $6,000 (?)

How long does it take to build: 100 days (?)

Lemonlight CEO, Hope Horner, co-founded an on-demand video production company that has produced over 7,000 videos for more than 3,000 brands, generating over $6 million in sales and growing to a 45-person team, all without taking any outside capital and being recognized in Inc 5000 and Entrepreneur 360 for three years in a row.

2. Start an online vape shop

How much you can make: $60,000 — $300,000/month

How long does it take to build: 60 days (?)

Jeremy Ong built Vape Club from an MVP vape subscription box business to a top online retail store in Malaysia, earning a monthly revenue of USD 60,000 with only 2 team members, primarily through blogging, SEO and email marketing with a CLTV of $400.

3. Start a SEO agency

An SEO agency is a company that provides search engine optimization services to businesses. The function of an SEO agency is to help businesses rank higher in search engines through organic or paid means.

SEO is a rapidly growing industry, with experts across all aspects of the field already making six-figure incomes and expecting to see these earnings grow dramatically over the next few years. Getting into SEO today, before it gets too saturated, will allow you to establish a strong base in a new career, with an excellent chance for success.

It’s easier than ever to start your SEO agency in Malaysia. The tools are there, and the competition isn’t as stiff as it used to be. If you’re considering starting an SEO or digital marketing agency, it might be a good idea to learn how other digital agencies succeed.

How much you can make: $1,000 — $1,800,000/month

How much does it cost to start: $1,000 (?)

Case study on SEO consultancy and affiliate marketing business generating over $360k per year with over 700k monthly visitors, with insights on building valuable content, conducting extensive research, and working with a skilled and dedicated team.

4. Start an online food business

Gone are the days when food lovers needed to leave their homes for delectable delights. Insert: online food business. This venture allows individuals or groups to offer ready-to-eat meals or pre-packaged ingredients for home preparation, straight to customers' doorsteps.

In simple terms, the business centers on creating and selling meals through an online platform. In a world perpetually pursuing convenience and variety, this idea caters to a diverse audience—busy professionals seeking nutritious meals, cooking novices craving guidance, or adventurous eaters exploring global cuisines.

As an owner of an online food business, you'll be involved in menu planning, sourcing ingredients, preparation, packaging, and delivering—while constantly innovating and adapting to the ever-changing food trends and dietary preferences. With the right blend of business acumen and culinary passion, the online food business can offer a unique opportunity to merge profit with satisfaction—giving people the gift of good food while filling a fundamental market gap.

How much you can make: $4,000 — $12,500,000/month

How long does it take to build: 120 days (?)

Healthy Chew is a profitable weekly meal preparation service that grew from 200 to 10,000 weekly bowls in just over 3 years, with an overall sales figure of $1.8 million, achieved through effective branding and personalised customer service.

5. Start a consulting business

Consulting businesses are booming, more so than ever before, and seeing year-over-year growth. With an accumulated value of about $250B , the global consulting industry is one of the biggest markets within the professional services sector.

If you want to start your own consulting business with valuable insights from industry experts, reading about their entrepreneurial journey will help you decide how you should go about it.

How much you can make: $100 — $2,500,000/month

Cybersecurity consulting firm Eden Data, launched in March 2020, scaled to four team members and generated over $45k MRR without large startup costs through their unique Virtual CISO offering, which outsources cybersecurity and compliance needs for a flat monthly price, rather than charging by the hour or for long-term commitments.

6. Start a furniture business

The furniture industry involves designing, manufacturing, and selling various types of furniture for household and commercial purposes. With the increase in flexible workspaces and the real estate industry’s growth, the furniture business’s demand is boosted.

The furniture business is easy to start and does not require high investments. However, it is first essential to know your niche, for example, office, domestic, home furniture, and luxury items.

The furniture business needs a lot of preparation and prior knowledge. Taking business classes, learning about your local market, and making a solid business plan is advisable. In general, if your products are unique and one of a kind, consumers will be willing to pay a higher, including the shipping cost.

How much you can make: $1,700 — $999,999/month

Sasha Weekes, owner of Timber Grove Studios, turned her fine arts and cabinetmaking education into a successful home-based woodworking business that grew from a side project to netting 20-50% profits month-to-month and up to $10,000 in sales during peak periods through Etsy, with her company's growth continuing to increase through other social media outlets.

7. Start an online video editing business

Video editors manage camera footage, dialogue, sound effects, graphics, and special effects to produce the final film or video product. To become an online video editor, you must have media production and communication knowledge and the ability to work with others.

To start a video editing business, you can outsource video editing skills from an experienced professional. Your role will be to pick video footage from the customers and upload them for the video editor to do the magic.

How much you can make: $2,000 — $208,000/month

How long does it take to build: 145 days (?)

Piktostory co-founder, Ai Ching Goh, divulges how she created a simple video editor with customizable captions and integrated "highlight" clipping features, attracting over 350 early adopters and focusing on promoting through Facebook communities and Product Hunt to acquire new paying customers.

8. Start a 3D Printing Business

3D printing is a process that assembles objects layer by layer and starting a business in this industry can be a very creative venture.

You will need investment in the right equipment and materials, and the acquisition of 3D modeling and design skills. You will also need to regularly calibrate and maintain your 3D printers to deliver consistent results.

Plan how you'll handle shipping and logistics, and leverage technology to find new applications of 3D printing in all industries.

How much you can make: $42,000 — $330,000/month

How long does it take to build: 360 days (?)

Founder Roy Kirchner shares how he started an eCommerce business specializing in 3D printing with an initial investment of $65,000, which now averages monthly gross sales of $330,000 and has partnered with international manufacturers and local businesses while offering technical support and education.

9. Start an IT company

How much you can make: $500 — $2,400,000/month

How much does it cost to start: $850 (?)

Apps: Lab KE is a software development company generating $3,500 per month, specializing in problem-solving using technology and data for businesses and communities.

10. Start a digital marketing business

Digital marketing businesses serve local and international companies to expand their reach and grow revenue. A top reason digital marketing is so exciting is that the field is constantly evolving and is easy to learn.

If you plan to start a digital marketing business in Malaysia, educate yourself and understand how digital marketing agencies work. Then, focus on building your digital skills and advancing your career through online digital marketing courses.

To stand out, find a digital marketing niche and focus on the audience interested in your services.

How much you can make: $2,000 — $6,660,000/month

How much does it cost to start: $1,260 (?)

How long does it take to build: 58 days (?)

H-supertools founder Hasan developed a set of free SEO and digital marketing tools generating $2k per month in profit using Google Adsense, affiliate marketing, selling ad spaces, and email, plans to launch a membership option, and has attained over 80k registered users and 300k monthly visits in less than two years.

11. Start a catering business

A catering business is responsible for providing food & beverage-related services for vast types of events.

Catering businesses are known to be more flexible than other businesses because they don’t have to worry about location or pricing and can even work 24/7. They can cater anywhere and offer any price point that they want.

However, starting a catering business requires a lot of planning.

To start a successful catering business in Malaysia, you'll need to plan and prepare menus, manage budgets, handle clients, and more.

In addition, catering allows you to meet more people and show off your cooking skills.

How much you can make: $3,750 — $48,333/month

How much does it cost to start: $500 (?)

How long does it take to build: 90 days (?)

Elegante Catering founder, Nestor Nidome, details his journey from failed DJ business to a $20k/month catering company, emphasizing the importance of online marketing and customer feedback as key contributors to his success.

12. Start a cleaning business

Starting a cleaning business is an excellent opportunity to be your boss and make money doing what you love. This business is relatively easy to create and does not require much equipment or funds.

There are many cleaning services, so deciding what services (or combination of services) you will offer and what hours of the day or week those services will be available is essential.

To start cleaning service in Malaysia, you’ll want to consider investing in professional cleaning equipment such as a vacuum cleaner, a quality mop, and a good cleaning bucket. You will also need to buy environment-friendly cleaning products such as detergent, bleach, paper towels, and trash bags.

How much you can make: $2,000 — $708,333/month

MaidThis®, launched by Neel Parekh in Los Angeles with just one cleaner in 2013, has achieved over $10 million in total revenue by focusing on cleaning Airbnbs and vacation rentals, thanks to its successful remote business model and new-age marketing tactics, and has now launched MaidThis Franchise to expand the business further.

13. Start a barber shop

Are you passionate about men’s grooming and looking to start a low-investment business with a high-profit margin? A barbershop can be a great business idea since it will never hit a low a season. Men and boys always look for grooming, no matter how bad the economy is.

Therefore, starting a barbershop can be a profitable business venture.

How much you can make: $125,000/month

Antonio Camilleri built Antonio's Barber Shop from a small two-chair operation to two locations servicing over 250 daily clients and €1.5M in annual revenue with a product line generating a 30% profit.

14. Start a travel agency

Are you a passionate traveler with entrepreneurial skills? Then starting a travel agency can be a great career choice for you.

As a travel agency, you'll be responsible for linking travelers to providers of all the travel and tourism-related services such as accommodation, transportation, sightseeing, tour guides, local adventure, etc.

Starting an online travel agency is a lot easier than you might think. You'll need to perform market research, get a few necessary certifications (such as your IATA number), study competition, build a website, and do proper marketing.

To maximize earnings, negotiate discounts from the industry service providers, and charge travelers within the market rate.

How much you can make: $2,000 — $114,200,000/month

Marissa Daniels runs a successful travel agency, Spread Your Wings Travel, that hit $100,000 in sales within a year of launch and provides payment plan options for its all-inclusive vacations, and she hopes to help 100 families supplement their income through the business.

15. Start a tour company

Starting a tour company is a great way to bring your love of travel to life. You can share your passion with others and help make their dream vacations come true!

There are many types of tour businesses, so choosing something you are passionate about and knowledgeable about is best. Here are a few of the most popular tour companies to start in Malaysia:

• Food & Drink Tours
• Adventure & Sporting Tours
• Sightseeing & Historical Tours
• Shopping Tours
• and many more!

It’s also essential to determine what mode of transportation you want for your tour company, as this will determine the initial startup costs needed for your company.

To get started, find out if you need a license to operate in your state. Some states require tour companies to be licensed, while others do not. If you are required to be licensed, talk with the licensing agency to find out what steps must be taken before you can apply for that license.

How much you can make: $3,750 — $43,300,000/month

How much does it cost to start: $2,500 (?)

How Jessica Baumgart founded a successful food tour business in Denver, which broke even and started making a profit after just three months, generating $20,000/month in revenue from offering different food tour experiences.

16. Start a coffee cafe business

A coffee shop is a popular spot for customers to enjoy freshly brewed coffee, tea, and light snacks in a comfortable and welcoming environment.

These cafes are typically furnished with comfortable seating, free Wi-Fi, and a pleasant ambiance that provides a relaxed environment for people to gather, work or unwind.

To succeed in this business, it is essential to offer high-quality coffee, create a pleasant atmosphere, and provide excellent customer service.

With the increasing demand for specialty coffee experiences, starting a coffee cafe can be a lucrative business opportunity that caters to the widespread love for coffee and the need for communal spaces to enjoy it.

How much you can make: $13,000/month

How long does it take to build: 180 days (?)

Chicago based Ignite Technology and Innovation-owned Momentum Coffee & Coworking, which focuses on coffee, coworking, community, and event space, rakes in about $17-20k a month in revenue, mostly from online and offline advertising, and just celebrated their first anniversary, with plans to open 2 more locations in Chicago in under-resourced communities.

17. Start a pet store

Pet stores are retail businesses that sell animals and pet supplies. They are a leading industry category with sales of approximately $4.5B U.S dollars and positive sales growth of 2.7% .

You can set up a pet store in many places, like supermarkets, malls, or pet supply stores.

The first thing to do is to find a location for your store. A good place would be an area with many residential buildings, schools, and colleges as this will give you access to many customers. It would help if you also looked for a location near public transport as it will make it easier for people to come and visit your store.

How much you can make: $20,000 — $1,833,333/month

How long does it take to build: 356 days (?)

Mechanical engineer and avid bike rider Mike Leon turned his hobby of creating a safe bike-to-leash attachment for his service dog into a 6-figure business, shipping from hundreds to thousands of 1-Running-Dog Bike Tow Leashes per year to dog owners, military and law enforcement, and search and rescue teams.

18. Start an affiliate marketing business

Are you looking for a side hustle to pay you a passive income? Affiliate marketing is one of those side hustles that will pay you well over the long term. It is a way to earn money online by promoting other companies' products and services. You will be paid a commission for each sale you make as an affiliate marketer.

To get started, learn how to find the right product and brand to partner with. For example, you may prefer becoming an affiliate marketer for an eCommerce store, partnering with a manufacturer, and marketing their products for a commission.

How much you can make: $500 — $773,000/month

19. Start a freelancer platform

Freelancer platform is a place where people come with skills and services to offer and people come who need those skills and services. So we can say freelancer platforms are a marketplace for sellers and buyers of services and skills.

The freelancing industry is growing rapidly and it's becoming a popular career option for people who are "non-traditional" employees. The global Freelance Platforms market size is expected to reach $6.7B by the year 2025 . While working on a full-time job, freelancers simultaneously work on a freelance career. The platforms available online help them to increase their business by attracting new clients.

With all of the businesses looking for help on their websites, it would be a good idea to start a freelancer platform. Freelance platforms do well because people have jobs that need to be done and businesses have the resources to pay for the job at hand.

How much you can make: $3,000 — $5,000,000/month

How long does it take to build: 80 days (?)

CloudDevs, a tech talent platform that sources and vets freelance tech talent and matches them with companies, has achieved $1 million in GMV in its first year, plans to achieve 100% growth year on year, and focuses on customer loyalty through its Net Promoter Score metric.

20. Start an ecommerce platform

Over the past decade, eCommerce has become an indispensable part of the global retail framework. According to statistics, over 2 billion people prefer shopping online.

While brick-and-mortar stores are still making more sales compared to online sales, the adoption of eCommerce is still rising, mainly because of the increased speed and convenience of online shopping.

Therefore, starting an eCommerce platform could set you on the right path to building a futuristic business.

How much you can make: $100 — $83,333,333/month

How long does it take to build: 110 days (?)

StoreYa co-founders Eyal Reich and Yariv Dror, along with CTO Pasha Zaft, created a suite of marketing and advertising apps that include Traffic Booster, which has generated an average of $700,000 MRR and helped the business win a 2018 Google Acquisition Performance award, as well as becoming a PayPal exclusive advertising partner.

21. Start a resume writing business

The resume writing business is a service that helps job applicants write professional resumes, provide details about their past experiences, and highlight their skills. Resume writing makes it easier for clients to capture hiring managers’ attention and shows they are fully qualified on paper.

A successful resume writer should have strong communication skills, proofreading skills, typing skills, and relevant business experience. Besides, the resume writer should have strong interpersonal skills and proven success.

According to glassdoor , 68% of job seekers who hire professional resume writers find a job within 90 days. The study also points out that professionally written resumes score jobs faster and earn more.

Therefore, the demand for professional resume-writing businesses will keep increasing.

How much you can make: $2,000 — $62,500/month

How long does it take to build: 150 days (?)

This case study follows a business owner who doubled his income from side hustles in two years, earning over $30,000 annually by writing resumes and LinkedIn copy, blogging weekly, and increasing rates as he attracted more clients from online platforms like Craigslist and LinkedIn.

22. Start a food truck

Food trucks are a highly profitable business that offers customers a variety of meal options out of a mobile truck. This basically operates inside a large vehicle equipped with kitchen and food products. Starting a food truck is a dream for many people, but it's more challenging than it looks. To make it work, you need the ideal location and menu.

To start a food truck business in a particular city, it is mandatory to check what kind of food trucks are already operating, identify a gap, and bring in some new experiences. Then, with the right plan and the right approach, you can be on your way to starting your own food truck empire.

How much you can make: $29,166 — $61,650,000/month

How long does it take to build: 75 days (?)

Time commitment per week: Min. 5 hours/week

Food Fleet grew over 160% in just one year and managed over 20 million in sales for its clients, securing multiple contracts with the likes of Sodexo, Levy Restaurants and more, due to its understanding of catering client needs and its advanced turnkey and design services.

23. Start a natural health product business

A natural health products business covers many products, including foods, supplements, drinks, and weight management products. Typically, natural health products go into the production of drugs.

It is easy to imagine why you would want to start your own natural health products business. First, health and wellness are hot topics right now. Everyone wants to be happy and healthy regardless of background, culture, or economic status. Second, the natural health products industry will exhibit a CAGR of 5.3% and reach over 32 billion in the next few years.

Therefore, the natural health products business can be a profitable venture. To maximize profitability, focus on providing health products that solve the problems experienced by your target customers.

How much you can make: $35,000 — $1,000,000/month

SuperGreen TONIK's founder developed a greens powder supplement with 38 superfood nutrients, adaptogenic herbs, vitamins, and minerals that achieved $250k in sales in its first year and is looking to hit 7-figures in its second year, thanks to transparency, repeat customers, and focusing on fewer, properly dosed ingredients.

24. Start an online car sales business

The online car sales business involves selling cars online through an e-commerce platform or website. To run this business, you will need a reliable source of car inventory, a website or e-commerce platform to list the cars for sale, and a payment gateway to process transactions.

One of the benefits of running an online car sales business is that it allows you to reach a wider audience, as customers can view and purchase cars from anywhere in the world. It also allows you to operate the business from anywhere, as long as you have an internet connection.

To run a successful online car sales business, you must understand the car market well and have strong marketing and sales skills. You must also build trust with potential customers and provide excellent customer service.

Regarding financial investment, you will need to consider the cost of acquiring the car inventory and setting up a website or e-commerce platform. However, the potential for profit in online car sales is significant, as the market for used cars is constantly growing.

How much you can make: $491,000/month

How much does it cost to start: $20 (?)

How long does it take to build: 1 days (?)

The Clunker Junker founders built a modern platform that has enabled the purchase of hundreds of thousands of cars across the US, generating almost $6 million in revenue in 2020 and changing their lives forever.

25. Start a recreational boat rental service

Boat hiring and boat rental services are tapping into the booming market of the experience economy. Today, most consumers prioritize experience over material items. Boat rental services are necessary, not just for tourists but also for family, couples, friends, and even solo. Investing in the right recreational boat rentals can have a significant return on investment.

Listed are the steps to start a recreational boat rental service business.

• Register your business name
• Permit and licenses to operate
• Obtain equipment for the operation
• Hiring staffs
• Organize your business and activity flow
• Promote your business

26. Start a mobile photography business

Want to start your own photography business? You're not alone. With the rise of social media and photo-sharing, blogging, and online retailing, it's never been easier to start making money behind your camera.

There are photographers shooting weddings, creating images for ad campaigns, freelancing for magazines, touring the world, taking photographs of destinations — the list is endless!

To start mobile photography in Malaysia, research the target audience and determine which specialization area is more lucrative. Invest in high-quality, professional cameras, lenses, and a computer with professional software photo-editing software.

How much you can make: $2,000 — $500,000/month

How much does it cost to start: $5,000 (?)

How long does it take to build: 200 days (?)

Photobooth Supply Co. offers a profitable business opportunity through their sleek and portable photo booths, with up to 97% satisfaction rate and a focus on customer experience, in a fast-growing event industry where photo booths are exploding.

27. Start a marketing agency

Marketing agencies can be a great option for businesses looking to advertise in different ways. For businesses, hiring a marketing company can help them achieve success as they don't have to spend money on employees or needed equipment. Marketing agencies are not inexpensive and there are many different variables that come into play when deciding which one is the best fit for your business.

You want to start a marketing agency, but don't know where to begin. You're not alone, there are thousands of entrepreneurs across the globe that have the same ambition. Luckily for you, compiled a list of how other agencies were able to grow their agency and scale effectively.

How much you can make: $1,300 — $465,583,333/month

How long does it take to build: 43 days (?)

A successful podcast production company that grew from one client making $15/hour to a team of 10 contractors producing over 30 shows per week with revenue of over $10k/mo, primarily through referrals and with a focus on providing high personal touch and being picky about working only with clients who are a good fit.

28. Start a pdf conversion business

As pdf has become an essential format for about every industry it only makes sense that everyone would want the ability to convert their documents in both ways. This is great news for anyone looking to start a business centered around converting pdf.

Starting a pdf conversion business can help you earn extra income and take control of your career. Professional pdf conversion services are in great demand.

Many medium to large companies prefer to present their documents in pdf rather than Microsoft Word. Besides, various official and private organizations prefer PDF versions of documents for security. This creates an opportunity for anyone to start a profitable business by establishing a standalone pdf conversion company.

How much you can make: $5,000 — $15,000/month

How much does it cost to start: $800 (?)

How long does it take to build: 135 days (?)

A passionate computer-coder entrepreneur shares the story behind his successful PDFShift business which after a year and a half generates $3.2k of monthly revenues with the focus now on growth.

29. Start a life coaching business

Life coach helps people in various areas of their lives using a combination of emotional intelligence, professional knowledge, and experience.

Life coaching is a popular industry worth over $2.85 billion, and the number of life coaches has increased by 33% between 2015-2019 .

This is a very profitable business and can be started at virtually no cost. You’ll need a computer, a high-speed Internet connection, and a LinkedIn account to start. Then, you can begin coaching part-time in your spare time until you build up your clientele.

How much you can make: $100 — $660,000/month

How much does it cost to start: $750 (?)

GrowthMentor, a platform connecting vetted growth mentors for one-on-one calls, founded by Fotis Panagiotakopoulos, has had over 2,500 mentorship calls booked to date and has seen success in using word of mouth, content marketing, and leveraging other people's networks as the primary drivers of customer acquisition.

30. Start an airbnb management company

An Airbnb management company manages every aspect on behalf of an owner and manages a complete day-to-day running of a rental property.

The services offered by the Airbnb management company include: marketing a property, optimizing financing, meeting and greeting guests, repairs, maintenance, and cleaning.

An Airbnb management company fee structure is generally based on commission, flat rate, and guaranteed income.

Airbnb management companies can easily increase the Rental Income by a minimum of 30% to 50% without compromising guest experiences.

To become an Airbnb property manager, one should be able to find homeowners who will be interested in the services offered by you. Airbnb property managers can make an average annual salary of $55,000 or $27 per hour.

How much you can make: $1,333 — $270,000/month

How long does it take to build: 30 days (?)

HostButlers is Ireland's first professional property concierge service for short-term rentals on Airbnb, boasting over 200,000 hosted guests and profitability from month 5.

31. Start a fashion business

In 2022, the fashion industry was valued at $473.42B, with a growth rate of 8.3% over last year . To become successful in this highly competitive & ever-growing industry, you must have passion, perseverance, and the ability to take risks.

With platforms like TikTok and Instagram, the way that fashion products are marketed online has completely changed, so it’s essential to keep up with these trends.

How much you can make: $100 — $40,480,000/month

Learn how this DIY blogger turned sewing pattern maker generates over $10k per month in passive income, and discover her tips for building an authentic brand on a budget.

32. Start a sensory deprivation tank business

Experience total isolation and float your way into blissful serenity. The sensory deprivation tank business has been growing, 20-25% as of a few years ago .

As our lives become more chaotic and stressful, people will continue to look for ways to destress, and float tanks might be one way that they pull out their wallets.

33. Start a health care training business

Health care training businesses provide a wide range of training programs to healthcare workers. They offer guidance on career preparation and assist workers in learning new skills to gain employment stability. The basic goal of healthcare training is to improve the performance of the employee and give the employer a trained and compassionate professional.

The health and wellness industry is growing rapidly especially after the global pandemic. There is never a shortage of challenges for the healthcare workers. Hence, continuous education is highly essential in health care sectors where there is high demand and growth in terms of new medical & technological advancement. Hence starting a health care training business can be highly profitable.

To start a healthcare training facility, you do not necessarily require a location, it can be set up virtually with proper planning, exposure, and advertisements, you can attract many customers. The customers may range from hospitals, medical schools, managed care companies, and national medical specialty societies.

There are several courses available online to learn how to deliver healthcare training. An ideal healthcare trainer should be excel in people management and should be able to plan, execute and manage to deliver training programs to a large group of participants. The average Healthcare Trainer's salary is $45,000.

How much you can make: $15,000/month

VORTTX Training and Testing is a virtual emergency response training system generating 1% of its market potential of one hundred million dollars a year in its second year of full-time operation through utilizing email marketing, trade shows, trade events, referrals, personalized LinkedIn messages, and featuring testimonials from early adopters.

34. Start a real estate business

Are you a qualified architect with a broad range of knowledge in the real estate field? Starting a real estate business can be a profitable venture.

Real estate involves purchasing, selling, managing, or investing in land and buildings.

To become a successful real estate business owner, you must have finely honed visual awareness and a strong understanding of various building materials and structures.

How much you can make: $5,000 — $1,500,000/month

This case study is about T. C. Lewis & Co, a real estate investment and management firm that successfully diversified their approach to include sales, development, remodeling, and construction, with property management being the key to investor doors and organic growth.

35. Start a flea market or marketplace

Starting a marketplace business is one of the best ways to capitalize on the gig economy and make serious profits. There are clear advantages to starting an online marketplace and being the middleman between suppliers and consumers.

The top online marketplaces in the world sold $3.23 trillion in goods in 2021 . Sales through platforms like those operated by Alibaba, Amazon, eBay, and others accounted for two-thirds of global eCommerce sales last year. To create and compete in the marketplace business requires adaptations, modifications, overhauls and innovation.

How much you can make: $8,300 — $200,000/month

HalalWorldDepot is a Halal online marketplace that started three years ago as a meat and grocery delivery service and has now expanded to offer a wide variety of Halal products, with a customer return rate of 50-60%, profitability at 16-25%, and over 10,000 customers, with plans to expand to Canada and the United Kingdom within three to five years.

36. Start a resume and cover letter business

Resumes and cover letters are crucial tools for job seekers to advertise their skills and experiences to potential employers.

Starting resume and cover letter writing is a profitable idea you can pursue as a full-time career or a side hustle. However, it requires dedication and passion to be successful. A resume and cover letter business can be both lucrative and fulfilling by helping others achieve their career aspirations.

The resume writing business is a multi-million dollar industry . Everyone is worried about making sure that they have a good resume. The resume and cover letter writing business is actually one of the coolest things you can do at first.

You get to help people turn their careers around and serve them in your own way.

How much you can make: $3,500 — $62,500/month

How much does it cost to start: $35 (?)

Founded by a corporate career coach in 2018, ByRecruiters has sold over 6,000 digital resume templates in 50+ countries, generating $1,500 to $4,000 per month and boasting a 116.91% return on ad spend through Etsy.

37. Start a hotel booking platform

The explosively popular Airbnb and countless similar services have proven that the market for home and apartment rentals is growing rapidly.

As an entrepreneur who loves travel, you see an opportunity to extend this model to hotels.

That’s why you start a hotel booking platform where travelers can search for and book accommodations worldwide.

The market size of the online hotel booking platform industry worldwide amounted to nearly $518B in 2020 .

Starting a hotel booking platform can be so interesting as an idea that can proliferate. It doesn’t require any license, no inventory — only mobile phones, an internet connection, and some motivation to succeed.

How much you can make: $114,200,000/month

38. Start a recruiting agency

The global online recruitment market size was $29B in 2019 and is projected to reach $43B by 2027.

The best way to assess the success of a Recruiting Agency is to review what their clients say about them and the results achieved for those clients.

As a recruiter, you dream of landing your first client, but once you do, you realize it’s only the start of what you hope will be a successful business. Have you ever wondered how to start a recruiting agency business? There’s so much you can learn from books, but nothing beats getting real-world experience.

How much you can make: $100 — $320,000/month

DistantJob is a unique recruitment agency that specializes in finding full-time remote employees, and with $3 million in annual revenue, they offer small to medium-sized tech companies an edge over big competitors who are not willing to hire remotely.

39. Start a mobile phone cases & accessories kiosk

The increasing adoption of mobile phones and other handheld devices has created a secondary demand for phone accessories. Experts project the mobile phone accessories market will reach $166 Billion in the next decade.

High-demand mobile phone accessories include phone cases, batteries, headphones, portable speakers, etc.

Opening a mobile phone accessories kiosk can be a profitable way to make money. Do you plan to start a mobile phone accessories kiosk? Find a busy shopping mall where people buy phones. You can sell mobile phone accessories in retail or wholesale only.

Phone Loops founder Jean-Philippe Brousseau developed and launched his first product after realizing how often he dropped his phone and caused costly repairs, and to date, the company has sold over one million Loops in 66 countries.

40. Start an online retail store

Starting an online retail store is straightforward. All you need is a computer, a domain, and a web hosting service. Then, determine a niche for your online store, and conduct product research before listing products.

You can start your online store based on a drop shipping business model or list your self-made products in your online store.

How much you can make: $5,000 — $62,500,000/month

How long does it take to build: 51 days (?)

This case study follows the story of a successful online business that has made 7.2 million dollars in sales since 2012, with profits of around 30-45%, and the founders share insights on lessons learned and tools used.

41. Start a water purifying business

It is a very lucrative industry, especially if you select the right location for your business, and will be the center of attention in the coming years.

Water is a necessity. Daily, around the world, billions of people require clean drinking water and sanitation services. However, millions don’t have access to safe and affordable water. They either have to purchase it or otherwise search for systems that can purify water for consumption. This is where the water purifying business comes in handy.

Listed are the steps to start a water purifying business.

• Plan your business
• Complete all required business documents to run your business
• Get insured

How much you can make: $1,500/month

How long does it take to build: 232 days (?)

Pyotam is India's first ayurvedic alkaline beverage brand that provides water solutions through expertise and innovation, boasting a monthly revenue averaging Rs. 1,00,000/- ($13K) from a customer base of around 250 customers having sold 1,400 bottles so far.

42. Start a marketing consulting business

Marketing consulting is a business that helps other businesses and organizations improve their marketing strategies and tactics. The improvement involves conducting market research, analyzing data, developing marketing plans, and offering guidance on effectively reaching target audiences.

To start a marketing consulting business, you will need a strong understanding of marketing principles and how to apply them in a business context. Marketing consultancy requires formal education or training in marketing or a related field and experience working in the industry. You will also need strong communication and problem-solving skills to consult with clients effectively.

To operate a successful marketing consulting business, you will need to be able to effectively assess a client’s marketing needs and develop a plan to address those needs. Managing clients’ needs involve market research, analyzing data, and creating marketing materials such as brochures, websites, and social media campaigns. You will also need to be able to communicate your recommendations to clients and work with them to implement the marketing plan.

In addition to these technical skills, you will also need to be able to manage your business effectively. Managing a business involves setting fees, marketing your services to potential clients, and managing your finances.

Overall, a marketing consulting business can be a rewarding and challenging career for those passionate about helping businesses succeed through effective marketing strategies.

How much you can make: $1,000 — $3,100,000/month

How much does it cost to start: $1,500 (?)

43. Become a freelance editor

Freelance editing is a great business idea for those passionate about language, grammar, and literature. As a freelance editor, you will review and improve written materials, whether novels, articles, reports or resumes.

To start a freelance editing business, you will need excellent communication and editing skills and a keen eye for detail. It is also helpful to have a background in writing or editing, although this is only sometimes necessary.

To run a successful freelance editing business, you must establish a robust online presence through a website or social media platforms. You will also need to market your services to potential clients through networking or paid advertising.

One of the main benefits of starting a freelance editing business is flexibility. You can work from anywhere, anytime, as long as you have a computer and an internet connection. You can work around other commitments, such as raising a family or pursuing other interests.

Freelance editing is a great business idea for those looking for a flexible, rewarding career that allows them to use their skills and expertise to help others. This could be the perfect business opportunity if you have a passion for language and a keen eye for detail.

How much you can make: $3,500/month

Daniel Waldman started his freelance writing business over three years ago and has since earned an average of $3,500 per month, mostly through referrals and Fiverr - offering blogging, article writing, website copywriting and editing services.

44. Start a professional organizing business

Are you interested in a side hustle business idea you can launch today? How about becoming a professional organizing consultant? You can teach others how to keep their spaces neatly organized if you have special organization skills.

Typically, a professional organizing business helps clients develop critical organizing skills through training. To start your business, you can create videos and share them on Instagram or other social media platforms.

To earn income from the organizing business, you can partner with promoters or introduce paid advertising opportunities.

How much you can make: $8,000 — $100,000/month

How long does it take to build: 40 days (?)

Time commitment per week: Min. 100 hours/week

Professional organizer turned system strategist boosts monthly sales to $8,000 by helping others in the industry implement business systems and through successful niche marketing on Instagram for Dubsado CRM setups.

45. Start an electronics store

An electronics store sells any electronics from smartphones to televisions, laptops, refrigerators and other home appliances. With the technological advancements in the past decade, the electronics sector is expected to grow by 5.6 percent over the next five years.

To start an electronics store, research and find the right location for your store, then register your company at the state level to get the tax ID number.

Then, research your competition, which includes online stores and the local electronics store in your area. You should examine what they sell and focus on the products you can provide at a better price than the competition.

How much you can make: $4,000 — $1,175,000/month

Founder Kyle Capel started Hand Held Legend, a DIY upgrade shop for vintage handheld consoles, which generates an average revenue of $27,000 a month and grew 30% in Q1 of 2020, offering an array of modern LCD upgrades for various consoles and serving an audience of mostly male customers aged between 13 and 45, 40% of which are international.

46. Start a beauty business

The beauty industry is growing at a rapid pace - valued at $511B in 2021, with an annual compounded growth rate of 4.75% worldwide. The beauty industry is predicted to exceed $716B by 2025.

If you are thinking of starting your own beauty business, there are many opportunities in this space to succeed. The most profitable branches in this industry include makeup, skincare, and hair products.

How much you can make: $1,500 — $40,480,000/month

How long does it take to build: 165 days (?)

Private Label Extensions is a hair distribution and technology company that builds hair brands from A to Z for entrepreneurs, achieving over $650,000 in monthly sales and ranked #278 of the fastest-growing companies by Inc Magazine for 2018.

47. Start a data science recruitment service

Data science recruitment is a service that helps companies to find and hire the best data scientists. This service offers a variety of features, including a talent database, job postings, and a matching algorithm.

If you are interested in starting a data science recruitment service. In that case, you should have a strong understanding of the data science industry and be able to identify the best talent. You should also be familiar with the various tools and platforms that data scientists use.

Glassdoor says that in 2021, ‘data scientist’ was the second most sought-after role in the United States, with an average salary of $113,736 . According to the data of Glassdoor, over the past five years, this has been a pretty consistent salary expectation for data science roles in the US.

Starting a data science recruitment service is a great way to help companies find the best data scientists for their needs. This is a growing industry with a lot of potential, and there is a lot of demand for data scientists.

How much you can make: $250,000/month

How long does it take to build: 121 days (?)

Data science recruitment company Big Cloud shares how they grew their business to generate £250k per month through expanding into global markets and using social media and marketing strategies to attract and retain customers while keeping a strong focus on building honest, long-standing relationships with clients and candidates.

48. Start a hotels business

If you are considering starting a hotel, then it is time to implement your plan. There are five key elements to understand if you want to succeed in this industry: location, size, budget, experience, and market demand.

Here are some tips to consider before forming a hotel:

• Name your business
• Decide on a marketing strategy
• Start by renting out a room in your home.
• Hire a business capital broker
• Make a marketing plan
• Offer complementary services

How long does it take to build: 325 days (?)

SKNMUSE, a premium beauty brand dedicated to elevating the beauty experience for Black Women, has a 40% customer retention rate, achieved a 169% increase in revenue, and made $30,000 in Q1 alone.

49. Start a youtube channel

For anyone looking to start a successful YouTube channel, there are plenty of YouTube channel success stories that can be used as inspiration and encouragement. In addition, YouTube has an established monetization system and boasts incredible popularity, making it a potential platform for revenue generation.

In this article, we'll look at different approaches you can use to help promote your channel and grow your viewers. While there's no quick and easy way to success, you can take these tips to build your own YouTube Channel Success story. If you love content creation, you can capitalize on YouTube's popularity to earn extra income.

If you want to join the Youtube partner program to monetize your channel, you will need to reach a minimum of 1,000 subscribers and 4,000 watch hours in the previous 12 months.

How much you can make: $800 — $4,500,000/month

Learn how this entrepreneurial couple made $5-7k a month by helping others find legitimate work from home jobs and creative ways to make money online through their blog and YouTube channel, as well as offering two flagship products designed to help beginner freelancers and new bloggers accelerate growth.

50. Start a child care business

Starting a childcare business is a great way to build a steady income. You will have the opportunity to be your boss and set your hours even from home. You will have the satisfaction of building one-on-one relationships with children and watching them grow over the years.

A childcare business is an excellent idea. It is both a personal and economical investment for its owners. This is especially true if you are considering starting your non-profit organization or becoming licensed to provide child care. Running a childcare business allows you to help children develop while also making money. As with any business endeavor, running a childcare business has its ups and downs, but it can be very rewarding.

Twinkle Toes Nanny Agency has grown from a side hustle to over 20 locations in 5 states, offering an impressive franchise model with almost no overhead and a strong ROI, due to their online scheduling system, which creates a network of nannies and families ultimately providing quality in-home childcare for families.

51. Start a travel consulting business

Many people dream of traveling the world. Starting a travel consulting business is an excellent way to make a passive income, explore different parts of the world, and help others do the same.

As a travel consultant, you will provide advice to clients on various aspects of travel, including destinations, airfare, accommodations, and activities.

The objective is to assist tourists and travelers in planning personalized vacations, offer travel advice, and provide end-to-end travel arrangements for a fee.

By making use of industry knowledge and relationships with hotels, airlines, and destination experts, travel consultants can save their clients time and effort in designing their dream trips.

How much you can make: $14,167 — $1,500,000/month

How much does it cost to start: $3,000 (?)

Rayna Tours and Travels, founded by Kamlesh Ramchandani and Manoj Tulsani, began its journey as a small travel counter inside a Dubai hotel, and has now grown into one of the UAE’s leading destination management companies with earnings exceeding $40 million per year.

52. Start a car washing and detailing business

The carwash business is already a multi-billion-dollar industry with room for growth.

With the number of vehicles per household increasing daily, starting a car wash and detailing business could be a profitable idea.

If you have a piece of vacant land in the right location, you can get into the carwash business. You can set up an in-bay automatic carwash, self-washing carwash, touch-free carwash, or a wide range of other options.

53. Start a flower shop

Do you enjoy designing floral arrangements for special events like weddings or holidays? If so, owning a flower shop can be exciting and rewarding.

However, setting up the business for success can be overwhelming.

As a florist, your role is to touch people’s emotions with the flowers. The career requires creativity and design skills to appeal to your target customers. You need to love and enjoy working with flowers and have some patience.

How much you can make: $9,600 — $120,000/month

Green Fresh Florals + Plants owner and creative director Carlos Franco explains how he built a unique, authentic, and profitable modern flower and plant shop in San Diego's Hillcrest neighborhood, growing from one employee to a $120k per month business through customer service, a focus on design, and a deep love for his craft.

54. Start an organic gardening business

Are you looking for a fun and easy home business? Would you love to try something totally different? Do you love the idea of growing your own food? Then starting an organic gardening business might be for you!

The idea of starting an organic gardening business may seem like a dream for many people. That’s because there are many requirements in starting a business involving time, effort, knowledge and capital. However, you shouldn’t stop dreaming now – organic gardening is a booming industry and it has no signs of slowing down.

Here is a guide for starting your organic gardening business:

• Learn about organic gardening
• Select a crop you want to work on

55. Start a grocery store

A grocery store sells a wide variety of food products, fresh or packaged, and other household & personal care items. The grocery store industry is the largest retail channel that makes $682 billion in the United States.

To start a basic grocery store, you can expect to spend a minimum of $50,000. Ideally, the bigger expense would be the rent, equipment, labor cost, cash registers/POS systems, and software. Some of these are recurring monthly fees. However, the location, size of the store, competitors, and local customers will significantly impact the business. A new grocer should sell more items for a lower price to make a more significant profit.

A new grocer can also save costs by buying the items from local distributors. The distributor is the middleman between the manufacturer and the grocery store selling it. Once the store cost and location are decided, the next step is to obtain a seller license. In most states, a grocer's license is required to run a grocery store.

Thus an average grocery store has a profit margin of 3% to 5%. The profit rates depend on the store's location, size, and popularity. On average, a small to medium grocery store can make a profit of up to $300,000 annually if all the profit factors are considered.

Another way to make your business more profitable is to diversify your store and add amenities like a coffee shop or stocking up the front of the store with magazines, batteries, etc., as these items can cross a margin of up to 70%. As a rule of thumb, offering lower prices on higher purchases will ultimately win more customers and increase profitability.

56. Start a writing & editing business

A writing and editing business is a business that provides writing, editing, and sometimes proofreading services. Such businesses market their services to businesses, corporations, and individuals who might require those types of services.

The earning potential of writing and editing is incredible. Freelancing is one of the best ways to earn some extra money. If you like writing and editing, then freelancing can provide you with an opportunity to prove yourself as an expert, increase your network and help steer your career in a new direction.

Writing is one of the easiest businesses you can start. You might dream of becoming a professional writer, selling your stories to famous magazines, or writing books that millions around the planet will read.

How much you can make: $1,200 — $208,333/month

How much does it cost to start: $300 (?)

Time commitment per week: Min. -1 hours/week

A freelance writing program that teaches intermediate-level writers how to command $1,000 - $3,000 per article, with creator Arlie Peyton generating $10k a month from writing custom long-form articles that get premium results in the eCommerce and SaaS industries and for personal brands.

57. Start an eye wear store

The global eyewear market will expand at a compound annual growth rate of 8.4% over the next few years. The growth is because of the changing lifestyle patterns and increased adoption of luxurious accessories.

Therefore, starting an eyewear store can be a profitable business. An eyewear shop sells sunglasses, contact lenses, and eye protection wears.

How much you can make: $3,352 — $100,000/month

Mouqy founder Daren Low discusses how he leveraged his experience in digital marketing to create a retail brand offering quality eyewear at affordable prices, with 172 unique frames currently available and targeting 1,000 frames by year's end, with the company's core online store running on Shopify and lead generation from content on WordPress CMS with performance enhanced by Gatsby and Zendesk for customer support.

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• October 5, 2021

Best Business in Malaysia 2024: 25 Most Profitable Businesses To Help Get You Started!

About author, related topic.

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Starting your own business is one of the most satisfying and exciting things you can do for yourself.

That’s why, our experts put their heads together and came up with 25 business ideas of the best business in Malaysia that’ll boost your finances and make you feel safe and confident.

Here’s what we’re going to talk about: small business in Malaysia

• What kind of new businesses are trending right now
• A short introduction on each
• Pros and cons of getting started for each niche

And because time’s money, let’s crush this right away!

You may be interested in: The Importance of Operations Management To Your Business Strategy

25 Profitable & Best Business In Malaysia You Can Start Today!

Starting your own business is going to be one of the most thrilling yet significant things you can do for yourself.

And we have some good news about it too – statistics show that 45% of consumers said they were more likely to shop at a small business. [1]

Anyhow, you’ll have to understand right from the start that things won’t always be pink and fluffy for your business.

So, you’ll need to fall in love with the whole journey before anything else – even money.

When things are hard, you’ll have your passion and dedication that will keep you going. And choosing a niche that you’re good at and you enjoy working on is a good start!

So let’s see a complete list of SMEs in Malaysia, their niches, and what type of business in Malaysia is the right fit for you!

1. Online Marketing Expert

Sometimes, you can’t come with an original small business idea no matter how hard you try. And that’s ok. But here’s a crazy solution – instead of coming up with the next, amazing idea, you can help other businesses be stronger and more popular.

As a marketing expert, you’ll have to know (among other things) how to boost your customers’ visibility on social media or drive more traffic to certain websites.

Related: How to Get Started in Online Marketing

2. Tourism Business

If you decide that showing people incredible places and offering unforgettable experiences is something you’d enjoy doing, tourism is for you!

According to official government websites, tourism is the third-largest contributor to Malaysia’s GDP. [2] After all, Malaysia is a tourist country as one of the topmost visited countries in the world for scuba diving and snorkeling.

3. E-commerce & Dropshipping

E-commerce sales are expected to increase with 21% of all retail market. And one thing is sure – the Internet is always going to be around.

E-commerce is one of the brightest and best small business ideas in Malaysia. All you need is a license you can register to the Companies Commission of Malaysia (SSM).

For more information, here’s a guide to start an e-commerce business .

4. Smartphone & Personal Computer Repairing Startup

Starting your smartphone and PC repairing small company might be the most profitable business in Malaysia. If you dedicate enough time to your career and improve your technical skills and IT business, you’ll make quite a lot of money online or offline!

Mobile phone accessories business is another popular but highly competitive business that you can consider. This one doesn’t require as much technical skills!

5. Oil & Gas Business

Another best business to do in Malaysia is the oil & gas trade. And the best part is that you need only a couple of thousand RM (Malaysian Ringgit) if you want to become a retailer for kerosene or natural gas.

6. Professional Services

The truth is that people and corporates will always need business professionals. So no matter what you’re good at, it can become an online business opportunities in Malaysia for foreigners and Malaysian.

For example, you can choose from:

• Software engineer
• SEM services

7. Real Estate Business

Another wonderful business opportunity in Malaysia is working in the line of real estate business. The government made buying houses easier than before so there are a lot of investment business opportunities in Malaysia.

Besides, investing in the real estate market is a good safety net against inflation.

8. Affiliate Marketing

If you’re not ready to commit to a full-time work schedule, affiliate marketing is one of the best business opportunities in Malaysia. You get the chance to earn passive income while working at your regular job.

If you want to learn more about this topic, our specialists came up with 2 useful guides:

• The best affiliate marketing platforms
• SEM for dummies

9. Laundry Services

Another good small business idea in Malaysia is laundromat services and it has a 95% success rate. [4]

To maximize your chances of success, you can rent or buy a place near residential areas such as:

• Busy streets
• Student housing
• Business centers or malls

10. Micro Finance Services

Microfinance offers financial and business opportunities to poor members of society who don’t have access to traditional banking.

In Malaysia, you have 3 main microfinance institutions:

• Amanah Ikhtiar Malaysia (AIM)
• Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN)
• Yayasan Usaha Maju (YUM)

11. Construction Business

Another business in Malaysia that looks promising is construction. Just think about it – if someone needs a roof over their head, someone else has to build it. So there will always be something to build up – new residential apartments and houses, malls, offices, or buildings.

12. Social Media Influencer / Content Creator (YouTube, TikTok, Instagram)

TikTok and Instagram Reels are a good, easy way to boost your social media posts engagement and gain new followers. Combine this with a customer-driven marketing strategy , and you’re already on the right track.

You may be interested in: Instagram Reels VS TikTok: Which is The Better Content Marketing Tool?

13. Food & Beverages (FnB) Business

Another top business in Malaysia is related to the FnB industry – the restaurant business and food truck business. If you choose to open a new ethnic restaurant, you’ll have a lot of curious customers that will come to try your dishes.

If you open a coffee shop, opting for a minimalist style with a lot of plants can turn it into one of the most Instagrammable places in your area.

14. Online Coaching / Consulting

Conventionally offline businesses are seeing themselves drawn and acclimating to a new digital world – the most prominent ones are the coaching and consulting lines of work!

Starting an online business as a coach is another way of starting a business in Malaysia that brings fulfillment and joy. You can make an account on Upwork , Fiverr , or join a Facebook group where you can promote your services.

15. Graphic Design

Among other attractive business ideas in Malaysia, graphic design is another cool opportunity.

To be successful with a good nature of business in Malaysia, a business needs:

• a nice and functioning website
• an attractive logo
• high-quality products and services.
• printing business

And a graphic designer can do 2 out of 3 things listed here – that’s how useful this business idea opportunity is!

16. Virtual Assistant

A virtual assistant can be an office manager or an administrative assistant. Your business can skyrocket if you know social media, branding vs. marketing , content management, or blog post writing.

17. Photography Services

Another small business in Malaysia that can work wonders for your financial business purposes is photography.

You might think that this industry is oversaturated, but the truth is that not everyone can take good photos. People will always search for professionals that will capture those special moments in their life.

18. Video Editing

Videos are more attractive and popular than photos, and that’s why many people are choosing YouTube, TikTok, or Instagram Reels to promote their content.

You don’t have business ideas for your videos? Associate with someone that makes the content while you edit it. Those intriguing and original editing details can make or break a viral video.

Other small business ideas: 34 TikTok Small Businesses Ideas & TikTok Compilations To Blow Up On TikTok

19. Child Care Services

Instead of leaving their kids alone, many parents choose to let their children in a safe environment at a daycare center. So, another interesting business plan Malaysia might offer is the opportunity of opening a child daycare center.

20. Website Building Services

Building websites for brands to boost their visibility on the Internet might be another most profitable business in Malaysia.

While it’s relatively easy to do it, if you’re a beginner you might experience a lot of problems at first. If that’s your case, our digital marketing agency Malaysia experts can help in website development with any question you might have

21. Fashion & Retail Business

If you ever wondered “What business should I start in Malaysia” and the next thing you see a well-dressed person right in front of you – that might just be the sign for you to start a fashion business!

It doesn’t matter if you’re not a country’s local fashion connoisseur or hotel booking business – just keep an eye on the international and local trends and you’ll know what to buy.

22. Life Coach

Life coaching is another best business in Malaysia you can try. Creating the best kind of life that you’re in love with needs a lot of patience and skill. Thus, people will always be happy to pay someone to teach them how to find life’s sweet spots.

23. Health / Beauty Product Agent

Another simple, yet great idea to boost your finances is to become a beauty product agent. The best part is that you don’t need a lot of Chemistry knowledge or something similar to be successful in this capital city of Malaysia.

This industry is all about how the product looks, smells, and how well it works on your customer’s skin!

24. Publish & Sell Online Courses

Udemy , Skillshare , Domestika are just a few places where you can publish your online business courses. To boost your engagement rate on these online platforms, you can give your audience homework and encourage them to publish it in the comment section

25. Content Writing Services

If you decide to become a content writer, you’ll have to know a little bit of everything, but the good news is that you can make money with SEO .

Inexperienced but wanting to learn more? Our digital online marketing Malaysia experts have a few guides to help you out:

• What are the 6 types of SEO content writing
• How to write an attractive link bait
• How to write clear and engaging CTAs for Google display ads

Frequently Asked Questions on Best Business in Malaysia To Help You Get Started

Our digital marketing Malaysia experts prepared a list with useful and popular FAQs about opening or buying a business for sale in Malaysia. Check them out!

1. Why is Malaysia the best for business?

Malaysia as a business hub has skilled labor, good infrastructure, and one of the most vibrant economies in Southeast Asia. Malaysia top business combine these advantages with political stability and industrial growth, and almost any small business can thrive in these conditions.

2. Which business is most profitable in Malaysia?

This article talked about 25 different business ideas as well as the pros and cons of working in each industry. The truth is that if you’re skilled and passionate about what you’re doing, you can make it big in any of these fields.

3. How to start a business in Malaysia?

First of all, you’ll need to do some market research. See what something useful is missing from your area, ask the locals, and do some competitor research. After that, check all the legal requirements, the taxes you need to pay, and all the certificates you need to acquire. Always check your information from credible sources and don’t try to outsmart the system.

4. Can a foreigner own a business in Malaysia?

Yes, but it’s limited. As a foreigner, you cannot register LLP companies, enterprises, or as a sole proprietor. [5] However, you are allowed to register a private company limited by shares. [6]

5. How to start a business in Malaysia as a foreigner?

If you decide to start a business in Malaysia, you should follow similar steps as in your county: do some competitor research, come up with a 5-year business plan, ask the locals and do some market research. However, keep in mind to double-check all the legal requirements from reliable sources.

To Wrap Things Up

Opening online businesses or a small business in Malaysia can be a great source of passive income. Who knows – it might just be the unexpected change you need in your life to make it more thrilling!

To gain better insights into what it means to be a marketer, you can check our website out or any other relevant post on our blog that suits your needs!

If you have any questions about any niche presented in the article, you can always reach out to us and talk about it. After all, we’re one of the leading agencies in Malaysia when it comes to:

• Professional services
• Graphic design
• Website Design & development
• Online business consulting ( Free SEO consultation )
• Social media marketing
• Online & digital marketing

Here at One Search Pro, we’re a dedicated online creative agency that’s ready to make your business stand out from the crowd. All you have to do is contact us and talk about your business – our experts will take care of the rest!

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22 Most Profitable Businesses in Malaysia 2024

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Looking for the most profitable and best business opportunities in Malaysia? With a fast-growing economy, and an interesting blend of culture and demographics, Malaysia is a dream destination for business owners. Here are the top 22 business opportunities in Malaysia for you to explore.

Best Business Opportunities in Malaysia

Given that tourism is a major contributor to the GDP of Malaysia; it is one of the most profitable businesses to start in Malaysia. Official figures published by the Malaysian Ministry of Economy show a rise of 24.3% YOY to 53.4 million visitors in Q3 2023 1 . Shopping, food and beverages and transportation industries are some of the most profitable businesses as the result of continuous growth in tourism in Malaysia.  

2. Fashion business

The market for fashion apparel amounts to US$5.23 billion in 2023 and is expected to grow annually by 5.79% between 2023 and 2027(CAGR), according to research from Statista 2 . The growth is likely caused by a surge in consumer confidence, rising affluence, and in particular, increased spending by women. Some of the biggest fashion companies and e-commerce stores, such as Zalora, Shopee, Lelong, Hermo, etc., have huge followings in Malaysia, where interest in fashion, beauty, and personal accessories are on the rise. 2024 is the right time to tap into the fashion appetite of Malaysians.

3. Auto service and car wash

Auto service workshops and car wash services have a great profit scope in Malaysia as most people use private cars. According to findings from Grand View Research, the growth forecasts suggest that it will exhibit a compound annual growth rate (CAGR) of 3.8% from 2021 through 2028 3 . The automotive and car wash industry is likely to continue growing in the coming years and prove to be one of the best and most profitable businesses in Malaysia

4. Leasing business

Right from plant and machinery, chattel to ships, expanding your leasing business into Malaysia can be a feasible option. When you incorporate your international company in Labuan (a territory in Malaysia), you can enjoy 100% foreign ownership apart from tax incentives.

5. Real estate business

The real estate industry offers wonderful business opportunities for entrepreneurs in Malaysia, with the government making it easy to buy houses. While you can choose your working hours, focusing on high-value properties can help you make a handsome profit.

6. Construction business

The construction industry in Malaysia is expected to continue its growth momentum with an annual growth rate of 4.4% in 2024, according to market research 4 . The Prime Minister Anwar Ibrahim also announced additional budget allocation in the 2024 Budget, including a total expenditure of MYR393.8 billion (US$89.8 billion) for 2024 4 . With new residential apartments, malls, houses, large-scale transport, industrial and renewable energy projects, as well as the government’s vision with the Public Private Partnership 3.0 model to fund infrastructure projects as part of 12th Malaysia (12MP) plan between 2021 and 2025, the construction business will provide ample opportunities for foreign and domestic investors.

7. Rubber plantation

Malaysia is one of the largest producers of rubber in the world. While Malaysia does import raw rubber, it earns a majority of its revenue from exporting finished rubber products such as medical gloves. A strong labour force in the agricultural sector and tax incentives are some advantages of investing in Malaysia’s rubber industry.

If you have a strong background in managing rubber plantations and exporting rubber, consider expanding to Malaysia by investing in an existing rubber plantation business.

8. E-commerce store

Statista named Malaysia as one of the “leading countries for e-commerce growth” 5 The top five products bought through e-commerce stores are travel, accommodation, fashion, beauty products, electronics, toys, and furniture. Given the vast market and its demand, businesses may benefit greatly from expanding into Malaysia by setting up an offshore company .

9. Computer and smartphone repairs

According to Statista, more than 30 million people are expected to become smartphone users by 2025 in Malaysia. More than 98% of Malaysian consumers are connected through the internet with their mobile phones 6 . For companies with an established presence in computer and smartphone repairs in other Asian countries, this represents an opportunity to expand their business into Malaysia.

10. Microfinance services

Small and medium-sized enterprises (SMEs) are the backbone of Malaysia’s economy. Malaysia is the second most developed and competitive country in Southeast Asia, based on the IMD World Competitiveness Ranking 2023 7 ,and even ranked 1st in emerging Southeast Asia for foreign investment 7 . Malaysia has always been open to foreign investments, with an impressive presence of 5000+ foreign companies from more than 50 countries. A favourable business environment, in addition to ongoing support for microfinancing, is the top reason to expand into this sector in Malaysia.

11. 3D printing business

To remain competitive, Malaysia’s manufacturing industry is looking to adopt new technologies such as 3D printing. During the pandemic, talented entrepreneurs in Malaysia used 3D printing to make face masks quickly, but experts see immense potential for 3D printing in Malaysia to create rapid prototyping in a cost-effective way. The low cost of 3D printers, and the open-source designs’ availability are some drivers of 3D printing growth.

12. Oil and gas

While Malaysia is the second-largest producer of oil and gas in Southeast Asia, the Malaysian government has continued to encourage FDI (foreign direct investment) in many sectors, including oil and gas. While the state-controlled PETRONAS has the sole rights to gas and oil deposits in Malaysia, foreign companies can enter into PSCs or production sharing contracts.

As a non-Malaysian firm, your company can participate in oil and gas production by partnering with local firms.

13. Cleaning services

The home services market in Malaysia is expected to grow to SGD 68 billion 8 (USD 50.49 billion) by 2025, with a 55% year-on-year growth between 2021-2025.  While the demand for cleaning services is growing, the industry is labour-intensive, requiring a major investment in human resources. Partnering with a PEO services provider such as Links is an easier way for foreign investors to plan on expanding their cleaning business into Malaysia.

14. Export-Import

Apart from skilled labour, ease of doing business, and good infrastructure, Malaysia is the gateway to the Association of Southeast Asian Nations or ASEAN, an economic union of ten member states to foster trade and regional cooperation. Malaysia is also a member of RCEP (Regional Comprehensive Economic Partnership).

In addition, Malaysia’s transport links offer easy access to international travel and the global supply chain, with five international airports connecting Malaysia to all major trade hubs in Asia, making it one of the many reasons why Malaysia is so attractive to international businesses.

15. Food supply/restaurant

Malaysian food is a vibrant blend of different cultures and cuisines and the F&B segment is expected to continue growing. According to Statista, the revenue in the food market is expected to amount to US$62.27 billion in 2024 in Malaysia. The market is projected to grow annually by 6.85% 9

The food industry in the country comprises fast-food cafes, full-service restaurants, self-service cafeterias, and street kiosks. If your food business serves unique local cuisines in Singapore or other Asian countries, you can obtain a retail or wholesale trade licence. Therefore, it ranks among the best and most profitable business ideas in Malaysia.

16. Hotel booking services

Plenty of destinations in Malaysia attract millions of tourists to the country, making the online hotel booking business a feasible investment option. With its low cost of living, well-developed infrastructure, natural scenery and proximity to other Asian countries, Malaysia has become an attractive destination for digital nomads. According to SEMRUSH, in December 2023 alone, the top 5 most-visited hospitality websites (Agoda, Booking.com, Tripadvisor, traveloka.com, and regenting.com) recorded more than 14 million visits 10 . It is expected that 73% of the total revenue in the travel and tourism market in Malaysia will be generated through online sales by 2028 11 . Hence, the hotel booking business is considered one of the best and most financially rewarding ventures in Malaysia.

17. Professional services

In Malaysia, professionals and consultants such as business management consultants, tax consultants, lawyers, and accountants are in demand. Diverse human resources, permission for 100% foreign ownership for a variety of businesses, and the supply of multilingual professionals who are competent in English and Malay are the advantages for foreign investors.

18. IT business

The IT sector is fast-growing in Malaysia. Businesses in the hardware, software, or cloud computing sectors are well-positioned to expand into Malaysia. Over 500 business parks and a reliable internet speed make Malaysia an attractive destination for IT investment.

19. Departmental store

Strong private consumption and ongoing investments in infrastructure make the retail sector a promising one for foreign investors. Excellent transport links and international delivery services help retail businesses cater to rising market demand.

20. Affiliate marketing

Given that a booming 28.6 million people in Malaysia (78.5% of the national population) are social media users, according to Statista, expanding your business to build a local affiliate marketing platform can be a viable option. The platform connects marketers with influencers and affiliates 12 .

21. T-shirt printing

In Malaysia, wearing custom T-shirts is a popular trend, leading to the growth of the t-shirt printing market. In Malaysia, the T-Shirts market is projected to generate an astonishing US$269.1 million in 2024, research from Statistic shows 13 . Interestingly, the demand for traditional batik-printed T-shirts in Malaysia has risen, demonstrating a growing interest in preserving and promoting the country’s cultural heritage. All in all, the T-shirt printing business stands out as one of Malaysia’s most profitable and thriving businesses.

22. Market research

Exploring Malaysia for expanding your market research services business may be a good idea. You can do so through a joint-venture corporation with 30% of shareholders being Malaysian individuals or corporations.

Expand Your Business with Our PEO and EOR Services

If you already own one of these profitable businesses, you should consider expanding your presence in Malaysia. At Links International, we offer the best Employer of Record (EOR)/ Professional Employer Organisation (PEO) Secondment services , enabling cost-effective and quick business expansion. Our in-house expertise ensures you hire the right local talent effectively while staying compliant with local labour , payroll , and tax laws. Contact us today to learn more about our HR services .

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Related Articles:

• Guide to Calculating Overtime Pay for Employees in Malaysia
• Key Highlights of Indonesia’s Harmonization of Tax Regulations (HPP) Law
• Vietnam Labour Law Update: SI Contribution for Foreign Employees

1 Source: Ministry of Economy Department of Statistics Malaysia – Stats Bulletin  – Performance of Domestic Tourism in Malaysia

2 Source: Statista – Market Insights – Consumer – Apparel – Malaysia

3 Source: Malaysia Car Wash Service Market Size, Share & Trends Analysis Report By Type (Tunnels, Roll-over/In-bay, Self-service, Manual), And Segment Forecasts, 2021 – 2028

4 Source: MarketWatch – Press Release – Malaysia Construction Industry Report 2023: Output is Expected to Grow by 6.6% in Real Terms in 2023 – Size, Trends Analysis by Sector, Competitive Landscape and Forecasts 2018-2022 and 2023-2027 – ResearchAndMarkets.com

5 Source: Statista – E-commerce in Malaysia – statistics & facts

6 Source: Statista – Smartphone market in Malaysia – statistics and facts

7 Source: PWC – Doing Business in Malaysia 2023 p.8

8 Source: PR Newswire – Online On-demand Home Services Market in Malaysia | Analyzing Growth in Specialized Consumer Services Industry

9 Source: Statista – Market Insight – Consumer – Food – Malaysia

10 Source: SEMRUSH – Free Website Traffic Checker – Top Websites – Malaysia – Hospitality

11 Source: Statistia – Market Insights – Mobility – Travel & Tourism – Malaysia

12 Source: Statista – Internet – Social Media & User-Generated Content – Social media in Malaysia – statistics & facts

13 Source: Statista – Market Insights – Consumer – Apparel  – Men’s Apparel – T-Shirts – Malaysia

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11 Most Profitable Small Business Opportunities in Malaysia

By starting a small business in Malaysia, you'll be diving into a resilient and fast-growing economy filled with opportunities in various thriving sectors. 

Ever thought of starting a business in a vibrant, multicultural country like Malaysia? With its fast-growing economy, this Southeast Asian gem presents a wealth of profitable opportunities for budding entrepreneurs. 

From tapping into the thriving tourism sector, offering essential repair services for personal technology, and establishing an alluring fashion brand, to breaking ground in the e-commerce field, there’s always something for everyone. And do you know what the best part is? It doesn’t matter whether you hold a big budget or just a little seed capital. Malaysia offers opportunities aplenty for small businesses who know where to look. And we are here to show you where to look. 

Important Facts to Know about Malaysia

Table of Contents

The state of Malaysia is one of the most prominent Asian countries that is governed by a monarchical federal system. Malaysia consists of 13 states distributed over three federal regions. The population of Malaysia is more than 32 million people, and its capital is Kuala Lumpur.

It is noteworthy that 99% of its population are Muslims. Malaysia is considered one of the richest Asian countries, as it is considered the largest producer of tin, palm trees, and rubber. It is one of the strongest economic countries in Asia.

Having said that, let’s dive into some of the most profitable business opportunities in Malaysia.  

But before then let’s look at some cool business facts and statistics on why it’s important to start a small business in Malaysia.

Consistent GDP Growth

Even though Small and Medium Enterprises (SMEs’) GDP growth in Malaysia was registered at -7.3% in 2020 due to COVID-19 disruptions, it rebounded to 1.0% in 2021, showing robust resilience and a promising sign of economic recovery.

Solid Employment Growth

In 2019, SMEs’ employment in Malaysia grew at a rate of 3.0%, compared with the national growth rate of 2.1%. This emphasizes that SMEs play a substantial role in creating job opportunities and contributing to the country’s economic stability. (source: Department of Statistics, Malaysia).

Drive the Economy

Small and Medium-sized Enterprises (SMEs) significantly contribute to the Malaysian economy. They make up a substantial portion of the country’s GDP and account for almost half of the employment. (source: Department of Statistics, Malaysia).

Malaysia Has a Thriving Digital Economy

Malaysia has a booming digital economy with an internet penetration rate of over 80%. The rise in digital usage has opened up ample business opportunities in e-commerce, digital marketing, IT services, and tech startup sector. 

Government Support

The Malaysian government offers conducive policies and various support schemes for small businesses, including funding, incentives, and grants, to facilitate entrepreneurship and the growth of SMEs.

Simply put, by starting a small business in Malaysia, you’ll be diving into a resilient and fast-growing economy filled with opportunities in various thriving sectors. 

The Best Small Business Opportunities in Malaysia 

1. start an online marketing agency.

In this digital era, you can easily learn some skills and become a professional who specializes in developing and implementing digital marketing strategies to promote products, services, or brands online. 

You can use various channels such as search engine optimization (SEO), pay-per-click (PPC) advertising , social media marketing, email marketing , and content marketing to reach and engage with your target audience. Online marketing experts help businesses increase their online visibility, drive traffic to their websites , and convert visitors into customers.  

2. Tourism Business

With tourism being the third largest contributor to Malaysia’s GDP, starting a business in this industry would be profitable. Tourism business refers to the industry that caters to the needs of travelers and visitors. In this tourism business, you provide accommodations, transportation, food and beverages, and other related services. This can include hotels, resorts, travel agencies, sightseeing tours, and attractions. Today, the tourism business is a significant contributor to the economy of many countries, generating revenue and employment opportunities.  

3. Start an E-commerce Business

E-commerce refers to the buying and selling of goods and services over the Internet. One aspect of e-commerce you can explore is dropshipping. 

Dropshipping is a type of e-commerce where the seller does not keep any products in stock, instead, they partner with a third-party supplier who fulfills orders directly to the customer. This can save time and money as the seller does not have to handle inventory or shipping. 

So, you can use the internet to your advantage by setting up an e-commerce platform. You can sell products directly or use dropshipping model to leverage other supplier’s goods.

4. Smartphone & Personal Computer Repair Business

You see, with the high use of technological devices, there’s a constant demand for repair services. Starting a repair company could potentially earn significant income online or offline. This type of business can offer a range of services, including screen repair, battery replacement, software installation, and data recovery. 

There is a growing demand for reliable repair and maintenance services, making this type of startup a potentially profitable venture.  

5. Oil & Gas Trade

The oil and gas industry is a significant contributor to Malaysia’s economy, accounting for approximately 25% of its GDP. The country has rich natural resources, with major oil and gas fields located offshore and onshore. 

Malaysia has a well-developed oil and gas infrastructure, including refineries, petrochemical plants, and export terminals. Oil and gas production in Malaysia has been steadily increasing over the years. You can become a retailer for some of the products.

6. Professional Services

Without any stress, you even offer your expertise in fields like consulting, accounting, software engineering, or SEM services. These are all viable online business opportunities in Malaysia.

7. Start a Real Estate Business

The real estate industry in Malaysia is a thriving sector, driven by a growing middle class and a stable economy. The industry includes property development, property management, and real estate agencies. 

Investment in real estate is one of the most profitable business opportunities in Malaysia, thanks to government initiatives. There are various types of properties available, including residential, commercial, and industrial. 

The government has implemented policies to promote the industry, such as the National Housing Policy and the Real Property Gains Tax Exemption Order.  

8. Start an Affiliate Marketing Business

Affiliate marketing is ideal for those who can’t commit to a full-time work schedule. You can earn passive income through affiliate marketing while maintaining your regular job. 

Affiliate marketing is a performance-based marketing model where you can partner to promote a product or service from a merchant. In return, you will earn a commission for each sale or conversion you make through your unique affiliate link. 

It’s a cost-effective way for merchants to reach their target audience and increase sales. Affiliate marketing is a business model that helps affiliates to monetize their content, audience, or website.  

9. Start Your Own Laundry Service

A laundromat business situated near busy streets, student housing, campuses, business centers, or malls can be a successful venture due to the high demand. Laundry services typically include washing, drying, ironing, and folding or pressing clothes. 

Some laundry services are provided by professional laundromats or dry cleaners. You can even partner with some hotels, restaurants, or other businesses to offer your services to their customers.  

10. Microfinance Service

By starting a microfinance service in Malaysia, you can provide financial assistance to individuals and small businesses. The people who will benefit most from this are those in rural areas who do not have access to traditional banking services. 

These services include loans, savings accounts, insurance, and other financial products tailored to the needs of microentrepreneurs. The objective is to promote financial inclusion and support the growth of microenterprises. 

11. Mobile Phone Accessories Business

This is popular but highly competitive. You can carve out a niche for yourself if you are able to offer unique, quality products that stand out. The mobile phone accessory business in Malaysia is a growing industry. Some of the top products you will be dealing with are phone cases, headphones, chargers, and Bluetooth speakers. 

The market is driven by the increasing demand for smartphones and the need for accessories to enhance their functionality. According to a report by Grand View Research, the Malaysian mobile phone accessories market is expected to reach USD 1.1 billion by 2025, growing at a CAGR of 10.7% during the forecast period. So, this could be a good idea to look at.

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23 Business Ideas for New Entrepreneurs

Opportunities for enterprising individuals are plenty. Some may begin as side hustles. With the rise of technology and changing consumer preferences, there are numerous business opportunities for entrepreneurs in Malaysia. It could be a new vertical for an existing enterprise. Here are 23 business ideas for entrepreneurs in 2023.

1. Virtual event planning and management

With the pandemic forcing many events to go virtual, the demand for virtual event planners and managers is growing. This could include conferences and trade shows to weddings and birthday parties.

2. Plant-based food production and delivery

More people are starting to understand how their food choice affects the health of our planet. We see that 1 in 20 Malaysian adults are vegetarians. Entrepreneurs could consider starting a plant-based food production and delivery service to cater to this market.

3. Online tutoring and education services

Around 3.42 million Malaysian households have fixed fibre subscriptions, indicating the massive demand for online connectivity. Enterprising teachers and tutors can use this opportunity to provide distance learning or online tutoring remotely. Many platforms and tools are available to ensure the teaching experience is compelling and understandable. You may consider one-to-one sessions or a live-streaming session. You would have come across some classes being conducted on TikTok.

4. Sustainable fashion and accessories production

These days, customers prefer to purchase fashion products while protecting the environment. Around 53% of consumers prefer green or sustainable products over other products, and 75% would pay more for green products, according to Shopify ’s 2021 Future of Commerce report.

You can develop your brand to keep up with sustainability by ensuring your product lifecycle process aligns with this outlook. Use leftover fabrics, pick natural recyclable fibre, and so on.

5. Digital marketing and social media management

Every day, businesses relying on digital channels to reach customers keep increasing. Since you can target specific audiences, you can directly sell to people who will likely buy the products or services.

6. Mobile app development and design

This is one of the growing business ideas for entrepreneurs due to the pandemic, where many are forced to shift to the digital world. Especially considering 49% of millennials open mobile apps 1 to 20 times a day , you are ready to go as long as you have the required skills. You may acquire those skills via platforms such as Coursera, Udemy, or even good old YouTube!

7. Subscription box services for niche products

Today, convenience key. We are being pampered with how accessible everything is, and we want to have more convenient ways of shopping. Customers can make an order once, and they don’t have to keep doing the same thing repeatedly. A subscription service can earn a gross profit between 40% and 60% , making it a great example of business ideas for entrepreneurs. You could come up with boxes of goods catering to your target audience. We’ve seen subscription box services providing men’s grooming, facial care, and even pet care! The ideas depend on your creativity.

8. Health and wellness coaching and services

As a health and wellness coach, you can help individuals set up better and healthier lifestyle goals. Like any other coach, you will motivate and support clients morally to achieve their physical and emotional objectives. It is important to make sure you get the necessary certification from credible bodies. You may also need to be mindful of regulations and industry standards to protect both yourself and your clients.

9. Cybersecurity and data privacy consulting

With the increasing threat of cyberattacks and data breaches, many seek ways to protect their online data. Surina Shukri, the then Malaysia Digital Economy Corporation (MDEC) Chief Executive Officer, said, “ 20,000 cyber security knowledge workers are needed by 2025 to support the cybersecurity workforce demand.” Like many digital skills, you may find courses that you can take at your own pace online. Coursera and Udemy are platforms where you can acquire certifications. Many universities offer their courses online through the free Massive Open Online Courses (MOOCs) model. Among these universities are Harvard , Stanford , and MIT .

10. Home automation and smart home installation

Home automation is an expanding business globally—by billions of dollars annually. In Malaysia, the revenue of the smart home market is projected to rise 15.11% every year and will reach US$ 420.8 million (RM1.8 billion) in 2025. Entrepreneurs who want to enter this field can offer installation, support, and maintenance packages. Online marketplaces like Shopee, Alibaba, and Amazon allow them to source the necessary hardware to promote.

11. Interior design and home renovation services

Not only residential houses but business owners can also benefit from hiring an interior designer. A great interior design can raise spirits, boost output, strengthen name recognition, and maintain customer trust. If you have a knack for design, and some capital to acquire materials, this is certainly something you can look into. 

12. Remote bookkeeping and accounting services

This is one of the hottest business ideas for entrepreneurs in 2023. Since all businesses, big and small, need to keep track of their finances, there is a high demand for accountants. Malaysia is facing a shortage of accountants , with only 37,000 registered in 2021. Just be mindful that accounting is regulated under the Accountants Act 1967. You will need the necessary qualifications to offer accounting services. However, unlike accounting, bookkeeping focuses on recording and organising financial data. Entrepreneurs, business owners, and even individuals often see this as a tedious process. Between us, many individuals tend to put off their income tax filing until the last minute because they dread compiling the data and receipts.

13. Personalised healthcare and wellness products

With more than 50% of patients wishing for healthcare providers and insurers to personalise their recommendations, you can see that this business idea will grow. With the advent of direct selling, more people are venturing into selling healthcare and wellness products. Personalising healthcare can lead to greater customer satisfaction and, in turn, will also increase profit. When venturing into this business, be mindful of regulations by the Ministry of Health. Make sure the suppliers receive the necessary certification from the Ministry. Similarly, understand what you can and cannot claim. The last thing you want is to be sued for misrepresentation, or for making false statements. 

Remember, patients having ailments and pre-existing conditions must always be referred to a licensed medical and healthcare professional.

14. 3D printing and custom product manufacturing

Many sectors, including aerospace, medicine, and the automobile, use 3D printing for rapid prototyping. This business idea is great for new entrepreneurs with no staff or limited workforce, as 3D printers can be set up to finish the job without supervision. 

15. Digital content creation and marketing

Everything is about content these days. Go onto any popular social media platform and you will find influencers on various scales. In Malaysia , 70% of people spend time online on social networking apps, with 26 million users in 2020. Considering those numbers, digital content creation is used to raise customer awareness, generate leads, and increase conversions. Focus on broad niches like lifestyle, travel, or health. If you have the necessary qualifications and training, you may consider helping your followers understand your technical fields.

16. Renewable energy solutions and installation

The demand for energy in Southeast Asia has doubled in recent years, making renewable energy very popular, especially solar technologies. In Malaysia alone, we see an expanded 66% installation of solar projects. This number will only grow in the future. Renewable energy solutions providers are constantly looking for distributors and contractors they can partner with. Make sure the solutions conform to Malaysian standards and regulatory requirements.

17. Green cleaning and housekeeping services

More environmentally friendly business ideas for entrepreneurs are showing up these days. Since people want to reduce the chemical harm to the environment, starting a green cleaning service will cater to this need. Besides the products themselves, a survey revealed that 54% of Malaysians also consider if the packaging is sustainable. As a business, how you handle the waste should meet the overall intention. Otherwise, you might find accusations of green-washing being levelled against you.

18. E-commerce platform for local artisans and craftspeople

Artisanal crafts are getting the attention of consumers. Consumers look for alternatives to the mass-produced goods they normally get. Many small and local artisans in Malaysia offer amazing things. By purchasing their products, we’re contributing to the regional economy. So, entrepreneurs could start an e-commerce platform for local artisans and craftspeople to sell their products online.

19. On-demand delivery services for groceries and essentials

The pandemic opened up an opportunity in the field of on-demand delivery services for groceries and essentials. With platforms like Grab, Lalamove, and many more, users are spoilt for choice when it comes to ordering their groceries. You can consider becoming a shopper on these platforms. Likewise, you may decide to cater to a specific target market. You may opt to develop your brand where you focus on value rather than volume. 

20. Personalised travel planning and booking services

In 2023, people are starting to travel again. Search engines and travel advisory sites are good sources of information for them. But more often than not, to develop one’s itinerary they need to know what they are searching for first. Otherwise, they risk spending hours on research. You can provide a personalised travel itinerary and help with booking. Sure, booking to most hotels and attractions can be done online. You would set yourself apart should you be able to add your insights hidden gems and off-the-beaten-track destinations to your clients’ itineraries based on their tastes, interests, and preferences.

21. AI-powered customer service and chatbot development

Artificial intelligence, or AI-related businesses is booming in 2023. Not everyone is quick to incorporate AI into their work or business. This is where you may help businesses if you are drawn to this field. Businesses will always need customer support. But labour shortages and costs could hamper their plans for hiring. Technology can come and assist them. Implementing AI in customer support will enable companies to deliver a better user experience within the resource limitations they face. You could help them develop their AI-powered customer service and chatbot.

22. Customised pet care and grooming services

Many business ideas for entrepreneurs cater to human needs. We can’t forget our furry friends. In Malaysia, 53% of people indicated that they own pets. Demand for reliable pet care and grooming is increasing because of the growing number of pet owners and the finite time they have due to their busy schedules. Besides that, some pets may need extra care than others. If you love animals, this is an area which you can explore. Pet care ranges from actually taking care of them to providing the right products.

23. Renting electric vehicles (EVs) and charging stations

Over 10,000 EVs are already registered. The market is projected to reach US$ 115.30 million (RM510.38 million) in 2023 . 

Remember, before considering any out-of-the-box business ideas for entrepreneurs and starting your business, conducting thorough research, identifying a viable target market, and creating a solid business plan is essential. With hard work, passion, and strategic planning, you could be well on your way to building a successful and rewarding business in 2023 and beyond.

Exploring Lucrative Small Business Ideas in Malaysia

Introduction: Exploring business ideas in Malaysia

Do you desire to be one of the entrepreneurs in Malaysia? Explore the infinite creativity of business ideas in this vibrant market.

All the various sectors, from F&B to e-commerce, are full of opportunities for us to start the entrepreneurial journey. Let’s look at some of the best business ideas in Malaysia for 2023.

Why start a Business in Malaysia?

The journey of entrepreneurship is filled with endless possibilities. However, selecting the perfect location is one crucial factor that can make or break your achievement. Malaysia is a fertile ground for startups with a myriad of compelling reasons. If you are seeking some business ideas in Malaysia, you should understand the reasons that make Malaysia an irresistible choice:

1. Strategic Location

Malaysia’s strategic location in the heart of Southeast Asia provides easy access to a regional market of over 600 million people. Being close to emerging markets provides businesses with a significant advantage.

2. Pro-Business Policies

The government of Malaysia has implemented various pro-business policies and incentives to attract foreign investments and entrepreneurs. For example, Malaysia’s liberal equity policy allows foreign investors to hold 100% of the equity in the manufacturing sector and selected services sectors.

3. Infrastructure and Connectivity

It has excellent infrastructure and connectivity. This includes modern airports, ports, and a well-developed road network. Based on the Eleventh Malaysia Plan , the government has built an integrated need-based transport system from 2016 to 2020.

4. Skilled Workforce

Conducting business internationally is easier in this country because it has a well-educated, skilled workforce. Besides, you can enjoy no language barrier when conducting business in Malaysia because Malaysians are skillful in various languages such as Malay, English, Mandarin, etc.

5. Low Operational Costs

Consider Malaysia’s competitive operational costs, including affordable office space and living expenses. The GDP statistics between Malaysia and Singapore show Malaysia ranked 33rd and Singapore ranked 34th. Besides, Malaysia’s living cost is less expensive than Singapore’s for foreigners.

6. Access to Funding

Startups have ample funding opportunities due to the availability of venture capital, angel investors, and government grants. For example, SMEs can apply for the Market Development Grant (MDG) and Services Export Fund (SEF) the Government provides through MATRADE .

7. Cultural Diversity

The harmonious environment for businesses from various backgrounds in Malaysia is created by its rich cultural diversity and tolerance. You can feel the warmth in Malaysia whether you are what colour or religion because Malaysia has been accustomed to respect for different races and religions.

8. Quality of Life

Entrepreneurs and expatriates are attracted to Malaysia due to its high quality of life, modern amenities and pleasant living conditions.

Sector-Specific Business Opportunities in Malaysia

Malaysia is an interesting country with a great location in Southeast Asia. Besides, you do not need to pay the high corporate tax rates to increase your revenue. Whether you are seeking a new business opportunity or expanding your existing business, the market of Malaysia is suitable for everyone.

Let’s look at some industry-specific opportunities that have huge potential for entrepreneurs.

🚀Technology and Innovation

Malaysia is quickly emerging as a prominent tech hub in Asia, providing various opportunities in software development, fintech, e-commerce, and artificial intelligence.

The government has enhanced broadband, data centres, and submarine cable landing stations. Besides, the government focuses on cultivating digital talents to ensure the technology industry grows and succeeds.

🏭Manufacturing and Export

Malaysia has a strong manufacturing industry because it has modern infrastructure and a highly skilled workforce. Entrepreneurs can explore various electronics, automotive, aerospace, and medical device ventures.

Malaysia is located along the Strait of Malacca, which is a major sea-route connecting the Far East to Asia, Europe, and the Middle East. This strategic location offers convenient access to global markets, making it a highly appealing destination for manufacturing businesses.

🌴Tourism and Hospitality

Malaysia has gained significant popularity as a tourist destination because of its breathtaking landscapes, diverse cultural heritage, and delicious food variety. Various entrepreneurial opportunities can be explored, including establishing boutique hotels, enterprises in eco-tourism, creating tour operator businesses, and developing culinary experiences.

The tourism and hospitality sector is thriving and provides numerous opportunities for individuals who are passionate about it.

♻️Renewable Energy and Sustainability

Malaysia is actively embracing renewable energy sources, including solar and wind power. Entrepreneurs prioritising green technologies and sustainable practices can exploit government incentives and tap into the increasing demand for eco-friendly solutions.

With government incentives, GTFS helps to provide financial aid to companies, with the government guaranteeing 60% of the loan amount and providing a 2% rebate on the interest or profit rate charged.

🌾Agriculture and Agribusiness

The nation benefits from its fertile soil and tropical climate, which provide favourable conditions for various agricultural activities. Various opportunities are available in sustainable farming, organic produce, and participation in the agribusiness supply chain. Farmers with an entrepreneurial mindset can access both local and international markets.

🏥Healthcare and Wellness

The growing demand for healthcare services and wellness products offers promising opportunities. Entrepreneurs have the opportunity to explore innovative healthcare solutions to meet the needs of a growing population that is increasingly focused on health.

📚Education and E-Learning

The education sector in Malaysia is undergoing significant changes, as there is an increasing demand for e-learning platforms and skill development. Online education innovators can engage with a receptive audience actively seeking to improve their skills and expand their knowledge.

🍽️Food and Beverage

Malaysia is a diverse country. It is an opportunity to sell any type of food and beverage. For example, selling halal Western cuisine can attract customers from each race.

💳Financial Technology

The fintech industry in Malaysia is experiencing significant growth, primarily fueled by advancements in digital banking, mobile payments, and blockchain technologies. Entrepreneurs can take advantage of this momentum by providing innovative financial services that meet the changing needs of consumers.

🚚Logistics and E-Commerce

In recent years, there has been significant growth in e-commerce and logistics. Entrepreneurs can explore various options, such as last-mile delivery services, warehousing solutions, and digital marketplaces, to meet consumers’ evolving demands effectively.

Exploring other Small Business Ideas in Malaysia

You have come to the right place if you are searching for profitable and creative small business ideas in Malaysia. Here, we have compiled a list of business ideas that have the potential to thrive in Malaysia’s diverse and expanding market. These ideas are inspired by the thriving entrepreneurial landscape in the country and cater to a wide range of interests and niches.

🛒 Shopee, Lazada and TikTok Stores

In the age of online shopping, there is a growing trend towards niche ecommerce stores that cater to specific customer interests. Consider launching an e-commerce business that offers distinctive products or targets a specific hobby or lifestyle. This could involve focusing on eco-friendly products, artisanal crafts, or vintage collectibles.

Read also: Make Extra Money At Home In 2023 With Shopee Affiliate

🌿 Sustainable and Organic Farming

Malaysians are becoming more aware of the importance of their health and the environment. There are various opportunities available for individuals interested in sustainable and organic farming. This could involve cultivating organic vegetables, herbs, or speciality crops specifically targeting health-conscious consumers.

📸 Photography and Videography Services

The demand for professional photography and videography services is increasing steadily. If you are passionate about visual storytelling, consider starting a small business that captures moments at events and weddings or provides product photography services for e-commerce businesses.

🎨 Creative Arts and Crafts Workshops

Malaysia is renowned for its vibrant arts and crafts culture. If you have creative skills, you can lead workshops or classes in various artistic disciplines such as art, pottery, or craft-making. Not only does this allow you to share your passion, but it also enables you to build a thriving business.

🚴‍♂️ Bicycle Rentals and Tours

Starting a bicycle rental and tour business in Malaysia’s scenic landscapes can be exhilarating. You can provide guided tours that allow tourists and locals to explore our country’s natural beauty while promoting eco-friendly transportation.

🍯 Specialty Food Products

If you are passionate about cooking, you might explore developing and selling specialty food products. For example, homemade bread spread with black sesame, matcha, almond butter, etc. Any favour that is rare to find in the market will be the selling point.

The diverse food culture in Malaysia serves as a great source of inspiration for creating unique and fusion sauces, snacks, and condiments that have the potential to appeal to niche markets both within the country and globally.

📦 Subscription Box Services

Subscription box services are the type of selling product method. For example, customers are satisfied with your products and can subscribe to your business to set the schedule for automatic purchases. It sounds like a subscription to Netflix and enjoys the virtual services, and the subscription box services are subscriptions for the physical goods.

Subscription box services have become increasingly popular on a global scale. You can curate subscription boxes that showcase niche products tailored to specific interests, such as beauty, books, gourmet foods, or pet supplies.

🏡 Home Improvement and Renovation

Malaysia’s real estate market is experiencing significant growth, resulting in many opportunities within the home improvement and renovation sector. Assisting people in improving the look of their homes can be very rewarding, whether it’s through interior design, furniture restoration, or landscaping services.

🌐 Digital Marketing Consultancy

The demand for digital marketing expertise is rising as businesses shift their online operations. If you possess SEO, social media marketing, or content creation skills, consider offering consultancy services to businesses seeking to enhance their online presence.

💻 Tech Repair and Services

As technology becomes increasingly prevalent, there is a growing demand for tech repair and services. You are available to specialize in the repair of smartphones, laptops, and other electronic devices. In addition, you have the option to provide data recovery or tech support services.

How Consumer Trends Affected Your Business Ideas in Malaysia

For businesses to thrive in the Malaysian market, it is crucial to understand and adapt to evolving consumer trends. Let’s explore how particular consumer trends have influenced your business ideas in Malaysia.

1. The Rise of Eco-Conscious Shoppers

The growing awareness of environmental issues among Malaysian consumers has significantly impacted the development of business ideas. The emergence of this trend has led to the development of several small business ideas that focus on sustainability and environmental responsibility. Entrepreneurs are increasingly realising the potential of catering to the needs of eco-conscious shoppers by providing a wide range of eco-friendly products and services.

• Business Ideas

It was recommended to explore the possibility of starting a business focusing on sustainable fashion, organic food production, or eco-friendly home products. You can access a rapidly expanding market by aligning your business with the values of eco-conscious shoppers.

2. Demand for Local and Artisanal Products

The growing demand for local and artisanal products has created opportunities for entrepreneurs to showcase and honour Malaysian culture and craftsmanship. Consumers who value authenticity and want to support local artisans are increasingly drawn to businesses that source and promote locally-made products.

There are opportunities to create a marketplace where local artisans can sell their products. Additionally, you are available to establish a brand showcasing Malaysian craftsmanship’s rich heritage. In a competitive market, one effective way to distinguish your business is by prioritising local and artisanal goods.

3. Tech-Savvy Consumers & E-commerce Growth

Tech-savvy consumers have accelerated the growth of e-commerce in Malaysia. This trend has revolutionised the way businesses operate and interact with customers. Entrepreneurs are utilising the potential of digital platforms to connect with tech-savvy consumers and provide them with seamless online experiences.

Venturing into launching an e-commerce platform, developing a user-friendly mobile app, or providing digital payment solutions can be highly profitable endeavours. To thrive in today’s digital age, it is crucial to embrace technology and cater to the needs of tech-savvy consumers.

Checklist for Starting a Business in Malaysia

After having business ideas in Malaysia, do you know the business starting procedure? The crucial step is to register your company at SSM .

Besides, there are 5 types of business entities you have to know before starting a business in Malaysia:

• Sole proprietorship
• Partnership
• Limited Liability Partnership (LLP)
• Private Limited Company (Sdn. Bhd.)
• Public Limited Company (Berhad)

Limited Liability Partnership is the popular option in Malaysia due to:

• Reduced risk of personal liability. You are only liable for debts up to the value of your shares.
• Higher business profile. It is easier to attract business than a sole proprietorship.
• Easier access to growth funds. Gather with bank loans, venture capital, and crowdfunding.
• Personal income flexibility. Pay yourself a combination of salary and dividends.

Types of Business Entities in Malaysia

Read more about “How to Register A Company in Malaysia: Complete Guide” here at BizTech Community. 

Tips for Success in the Malaysian Market

In the competitive market, having good business ideas in Malaysia is insufficient. Achieving success necessitates a strategic approach and a thorough comprehension of the local business environment. Here are some helpful tips to successfully navigate and thrive in the Malaysian market:

1. Market Research and Localise Your Offerings

Before entering the Malaysian market, it is essential to conduct thorough market research to understand consumer behaviour, preferences, and emerging trends comprehensively. This involves researching the local demographics, competitors, and cultural nuances. Research should be the guiding force behind your product or service offerings.

After understanding the market trend, you can customise your products or services to meet Malaysian consumers’ needs and preferences. When considering various factors, it is important to consider elements such as language, cultural sensitivities, and regional variations. Localisation can greatly improve your market appeal.

2. Importance of Digital Marketing and Online Presence

Digital marketing and a strong online presence are crucial in the Malaysian market. These strategies allow businesses to reach a larger audience, make cost-effective advertising decisions, and enhance brand visibility.

As internet penetration in the country grows, businesses can effectively target their desired audience, engage in real-time interactions, and successfully compete in the thriving e-commerce industry. In addition, digital marketing offers the crucial capability to analyse data, make well-informed decisions, and remain competitive in Malaysia’s ever-changing business landscape.

3. Monitor the strategies and results

It is important to evaluate your business strategies and performance metrics regularly, you must be prepared to adapt to changing market conditions and consumer preferences.

Focusing on flexibility and agility will give you a competitive advantage in the Malaysian market. Outstanding customer service is the best strategy to set yourself apart from competitors, as it allows you to adapt with flexibility and agility. Ensure that your staff is trained to provide exceptional service, in-person or online. To establish trust and loyalty, promptly addressing customer inquiries or issues is important.

Read also: 10 Practical Online & Offline Ways to earn a side income in Malaysia

Conclusion: Future Outlook and Growth Potential

The future outlook for business ideas in Malaysia in 2023 is promising, with diverse opportunities and market growth potential. With the economy’s evolution, sectors such as technology, e-commerce, and sustainable ventures are anticipated to flourish, presenting entrepreneurs with promising opportunities for success.

Frequently Asked Questions

What are the most successful small businesses in malaysia.

Malaysia’s most successful small businesses include food stalls, online retail, e-commerce, and service-based ventures such as digital marketing or freelance writing.

What business is in high demand in Malaysia?

In Malaysia, businesses that are in high demand typically include technology-related ventures, food delivery services, healthcare, and sustainable or eco-friendly products.

What business can I start with RM 1000?

If you have RM 1000, you have several options for starting a small business. You could explore opportunities such as online reselling, offering freelance services, or even starting a home-based food preparation and delivery service.

How can I earn side income in Malaysia?

You can earn a side income with Affiliate Marketing, Blogging, Selling Food, and Rideshare drivers. If you are unsatisfied with these ideas, you can check more side income ideas from the biztech community.

Samantha Lim

Samantha Lim, a finance writer from Malaysia, combines her Finance degree and industry experience to offer expert insights on personal...

Business Ideas in Malaysia: Opportunities for Entrepreneurship

03 jul 2023.

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9+ Best Small Business Ideas In Malaysia

Small businesses significantly contribute to Malaysia’s economy and play an important role in various sectors of the economy, such as productivity, job creation, and employment, among many others. Are you new to Malaysia and considering profitable small businesses to venture into? This piece highlights some of the best small business ideas in Malaysia.

Here are some of the best small business ideas in Malaysia:

Repair of computers and smart devices.

As long as people continue to use electronics and other smart devices, repair services will always be needed. This type of business does not require a lot of start-up capital. All that’s required is a good location to offer your service.

Food truck business

Malaysia has an array of beautiful street food that can be a basis for a food truck business. This business is quite expensive to start as you would need to buy a food truck and other cooking equipment and ingredients. However, this business has a large market because you can move your truck to different places and get different customers.

Sales of mobile devices and other electronics

Selling mobile devices and other electronics is another profitable business idea in Malaysia. People are always looking to upgrade their mobile devices; hence, this business has a large audience. However, starting this business will require a lot of capital and a good location.

Pet care services

Taking care of pets can be very tasking, so a pet care service provider will be very much appreciated by the population of pet owners. Your pet care service can include pet sitting, cleaning, and other related services. This business does not require a lot of initial start-up capital and is easily scalable.

Affiliate marketing

If you don’t want a demanding business that requires leaving your home daily or if you already have a 9 to 5 and just want something extra, then affiliate marketing is a good choice. Affiliate marketing simply involves referring others to the products and services of a company or another business for a certain percentage of sales. It is a great and easy way to earn extra cash. It doesn’t require start-up capital if you already have a smart device.

Freelance services

Freelance service is another way to earn money easily. Oftentimes, you don’t have to leave your home or spend a lot of money to start such businesses. You can monetize your skills like writing, graphics or web designing, consultancy, and other freelance services from the comfort of your home using only your mobile device and computer.

Event planning

If you have a flair for organizing and planning events, you can consider turning this skill into a business. You can help Malaysians plan their weddings, parties, workshops, baby showers, and other events. You don’t need a lot of capital to start this business, but you can grow as you go.

Printing services

You could also start a printing business that’s not limited to making prints on paper. Consider transferring designs and prints to clothes, mugs, and other surfaces. The equipment for this business is quite expensive, but it is a scalable and profitable business venture.

Babysitting and childcare

If you have a lot of time on your hands and you’re good with kids, you can consider providing babysitting and other childcare services in Malaysia. You can start with going to clients’ houses to take care of their kids and grow to have your own space where people can leave their kids in your care to go to work or attend other functions.

Laundry services

A laundry business is also a profitable business venture in Malaysia. The busy populace will be glad to have someone do their laundry and deliver it to their home, making this business idea very profitable and scalable. Also, it doesn’t require a lot of start-up capital.

How to start a small business in Malaysia

Here are some tips for foreigners in Malaysia to start a small business :

• The first step is to have a detailed business plan that tallies with the available budget for the business
• Choose a good business name and find a suitable location to operate your business from
• Incorporate your business: the next step is to incorporate your business as a company in compliance with the company incorporation guidelines contained in the Companies Act 2016
• Ensure to get necessary licenses to operate if required

How We Can Help?

Premia TNC is a business consulting and accounting firm, and we are well-versed in the guidelines and procedures for starting a business in Malaysia. We walk our clients through the entire process of incorporating their company, from the pre-incorporation stage to the actual incorporation and even post-incorporation, to ensure that our client’s businesses are in good condition to run.

We have a knowledgeable team that is capable of handling all aspects of the company incorporation, even with the absence of the company owner, in cases where the company owner does not reside in Malaysia or is unavailable at the time. We also offer consultancy services to make starting a business in Malaysia easier for our clients.

How can I get help to start a business in Malaysia?

Instead of going it alone and risking mistakes, it’s best to employ the services of professional business consulting and incorporation companies. Companies like Premia TNC can help you handle the process of setting up a business in Malaysia from start to finish.

Is it a good idea to start a business in Malaysia?

Yes, it is a good idea to start a business in Malaysia. Starting a business in Malaysia is easy and safe, provided that all requirements for starting, registering, and running the business are met before setting up the business.

Can I start an online business in Malaysia?

Yes, you can. Setting up an online business in Malaysia is straightforward. The entire process can be completed online by filling out and submitting the application to the Companies Commission of Malaysia.

What benefits can I enjoy from starting a business in Malaysia?

There are several benefits for businesses in Malaysia, such as tax exemptions, industrial allowance, wage subsidies, reduced corporate tax rates, and many other incentives for businesses in Malaysia.

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What Business to Start in Malaysia

• What Business to Start in…

A Brief Guide on What Business to Start in Malaysia

In this brief guide, you’ll find an interesting array of information and ideas that provide food for thought. For further assistance, do get in touch with 3E Accounting Malaysia, your award-winning business solutions partner.

Why Start a Business in Malaysia?

Malaysia has many things that make it a great place to start a company or expand your business. Its strategic location, including proximity to neighbouring Singapore, positions it as one of the prominent gateways into Asia. Malaysia also has a vibrant commercial environment that blends seamlessly with its rich cultural heritage and diverse talent pool.

Entrepreneurs and investors will find a vibrant and dynamic business ecosystem that still retains its old-world charm. Innovation and cutting-edge technology are being given prominence in its national policies, governance, and infrastructure. Yet, the cost of living and doing business still remains competitive, making Malaysia a resource-friendly place for start-ups. It also has an offshore financial centre, the Labuan IBFC, which offers tax incentives and international commercial services.

Businesses to Start in Malaysia

There are many ways and reasons to start a business, but it all begins with an idea. It can be a small business, a huge enterprise, a freelance endeavour, or even a unique weekend pop-up. While sometimes inspiration strikes, there may be instances where the well runs dry.

Here are a few ideas to get the ball rolling on what business to start in Malaysia:

• Digital and Cybersecurity Consultancy
• Cultural Homestay and Tour Guide Agency
• SEO and Social Media Consultancy
• Microfinancing or Fintech Company
• Ageing Care, Orphanage, or Disabled Centres
• One-stop Wedding Planning, Boutique, and Photography Service
• Oil and Gas Industry Service or Management Consultancy
• Property Management or Home Maintenance Service
• Traditional and Cultural Arts and Crafts
• Food trucks or Speciality Pop-up Cuisines
• Franchise Business

Starting a business can be exciting but also a little bit tedious as there are loads of things to do. Once you’re firm on what business to start in Malaysia, it’s best to begin with some due diligence. Research the industry, the competition, viable locations, investors, as well as the most suitable entity for your  Malaysian company.

If you’re in the market for some professional assistance, do get in touch with  3E Accounting Malaysia . Our team comes with the experience and expertise to ensure a seamless business start-up process. We offer some of the most competitive packages available with tailor-made solutions to fit every business need. Contact us today for a truly unique, comprehensive, one-stop experience to kick-start your entrepreneurial journey.

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Best 23 Small Business Ideas in Malaysia for 2024

• December 31, 2023
• by Editorial Team

Do you want to start a business in Malaysia? Here in this post, we list down the most profitable small business ideas in Malaysia that can be started with small and medium investments.

Malaysia is a Southeast Asian country. The country is a highly open, upper-middle-income economy. The country’s economy into higher value-added activities in both industry and services. In addition, the country is a leading exporter of electrical appliances, electronic parts and components, palm oil, and natural gas.

In addition, the government is moving towards a more business-friendly environment by setting up a special task force to facilitate business called PEMUDAH. The objective of the scheme is to simplify the business environment in the country. So this is the right time to start a business venture in Malaysia.

Find Below a list of preferred small business ideas that you can easily start in Malaysia:

23 Small Business Ideas in Malaysia

1. start an online business.

If you are looking for business opportunities from the comfort of your home, the online platform can be a good place to explore. There are plenty of online businesses like starting a blog, affiliate marketing, dropshipping, freelance writing, and many more. Check out our list of recommended online business ideas to learn more.

2. Restaurant Business

Malaysia is a popular place for travelers all across the world. It is also a business-friendly nation and a lot of companies are based in the country. If you find a good location, the restaurant can be a profitable business in Malaysia.

3. Amusement Park

Tourism is an important industry in Malaysia. The country attracts thousands of domestic and foreign visitors every year. So, starting an amusement park is a very promising business in the country. However, the business demands strategic planning and substantial capital investment.

4. Start an Automobile-Related Business in Malaysia

Malaysia’s automotive industry is very promising. In addition, the country is the 22nd largest automotive manufacturer in the world. The immense growth in the automobile industry creates enormous opportunities for small business entrepreneurs.

5. Make or Sell Computers

Malaysia is an excellent country for computer-related businesses. There are several options in this sector. You can start a small-scale assembling business or can sell computer-related products. Furthermore, there are several computer-related opportunities you can start at home.

6. Consulting Services

Rendering professional consulting services is another promising opportunity in the country. In addition, you can start this business from home. However, you must have adequate knowledge and experience in the specific subject.

7. Electrical & Electronics

The electrical & electronics (E&E) industry is the leading sector in Malaysia’s manufacturing sector, contributing significantly to the country’s exports. And some of the major products are mobile devices, storage devices, optoelectronics, and embedded technology.

8. Oil & Gas

Oil and gas are the promising industry in the country. Furthermore, it is an exporter of petroleum products and natural gas. So you can start an oil and gas-related business in Malaysia. One can be a trader of natural gas or kerosene on a small scale by investing just a few thousand RM or Malaysian Ringgit.

9. Real Estate

Malaysia’s real estate market is growing. And Govt. is taking several initiatives. To make home-buying possible for people on low and medium incomes and young people, in July 2011 the Malaysia People’s Housing (PR1MA) Bill 2011 was launched. You can start a real estate business in the country in various ways.

The demand for properties in cities like Kuala Lumpur, George Town, Johra Bauru, and Ipoh is rising.

10. Rubber Plantation

Rubber is one of the important natural products in the country. In addition, agricultural activity plays an important role in the country’s economy. Furthermore, rubber plantation is profitable and gives lucrative profit to the farm owners.

11. Tourism

Tourism is a huge sector of the Malaysian economy. United Nations World Tourism Organisation (UNWTO) listed Malaysia as the 10th most visited country in 2012. Malaysia is rich with diverse natural attractions. And the country becomes an asset to the country’s tourism industry.

12. Transportation

Transportation is another thriving sector in the country. Furthermore, it offers different small and medium-scale business opportunities to entrepreneurs. However, strategic planning and the right promotion are important to get long-term success in the industry.

13. Start a Fashion Business in Malaysia

The people of Malaysia are mostly fashion lovers. As per the latest studies, the fashion apparel market is expected to grow by 7.21% during 2023 -2027. There can be no better time to start a fashion-related business in Malaysia at present.

14. Smartphone Repair Shop

The sales of smartphones are rising faster than ever before. Hence, it is quite obvious that the need for repairing old defective smartphones is bound to increase.

15. Airbnb Business

Travelers from outside are more and more preferring Airbnb for accommodation. If you have a property at a tourist destination, think of renting it on Airbnb.

16. Provide Photography Services

More and more Malaysians are looking for photography services to cover big events like weddings and corporate parties. If you have the necessary skills as a photographer, it won’t be difficult to get customers.

17. Sell Mobile Phone Accessories

This retail business has high potential in Malaysia. The mobile phone accessory industry is growing fast in this part of the world.

18. Open a Coway or Cuckoo Agency in Malaysia

If you are a water filter specialist, starting a Cuckoo agency can be a profitable venture in Malaysia.

19. Food Truck

Malaysians having short on budget but interested to enter the restaurant business, owning a food truck business is a good alternative.

20. Car Rental Business

The business of renting cars is becoming very popular in Kuala Lumpur and other cities in the country. Starting a car rental business here can be a profitable venture.

This is a country full of business opportunities. In addition, the country provides a full business-friendly environment for startup entrepreneurs. Furthermore, it is the best place to start a business for foreigners also.

21. E-Commerce Business

The e-commerce industry in Malaysia is expected to grow at 11.4 percent in the coming years. It can be said, without a doubt, that the e-commerce business is one of the most lucrative business ideas in Malaysia at present and in the future. However, selecting the right e-commerce product is the most critical factor in the success of this type of business.

22. Start a Leasing Business

Industry pundits predict good growth in the leasing and rental industry in Malaysia in the coming years. Recently, many big companies from the telecommunication and transport industry have entered the country. For foreign nationals looking for entry into the leasing industry in Malaysia, places like Labuan can be a good option. Foreigners not only get 100% business ownership but also a wide range of tax incentives here.

23. Construction

More and more apartments, office buildings, and shopping malls are coming up in almost all towns and cities in Malaysia. Cities like Kuala Lumpur, Penang, Ipoh, Johor Bahru, etc have witnessed huge growth in the construction business in recent years. It is predicted that the country will see a growth of around 7% during the years 2023 to 2025. So, if you have experience in the construction sector, starting a construction-related business in Malaysia can fetch you big profit returns.

We hope, this list of profitable small business opportunities in Malaysia will help you in making an informed decision to start your own venture.

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9 Ideas to Start A Small Business in Malaysia 2024

Last updated: Apr 17, 2024

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Are you planning to start a small business in Malaysia? If you want to do so, the first step is to figure out an idea for your business.

It would be a challenge to run a business even if it is on a small scale. When you're just starting, you need to be aware of the market needs, expand your connections, and build strong branding.

However, why you should start a business in Malaysia? According to IMD, Malaysia is in  27th  position in the global ranking of the most competitive economies in 2023.

Considering the data, Malaysia has been a great location to look for business opportunities nowadays. Moreover, its strong economy and friendly business environment make it more attractive for entrepreneurs of all scales to do business there.

For all these reasons, knowing business ideas in Malaysia will give you an insight into the business prospects in the country.

This article will discuss a list of ideas for small businesses in Malaysia that you can consider to build your business. To find out more information, explore the explanations below.

9 Small Business Ideas in Malaysia

Small and medium enterprises (SMEs) are the main foundation of the Malaysian economy. 

Based on the Department of Statistics Malaysia (DoSM), micro, small, and medium enterprises (MSMEs) in Malaysia successfully achieved Gross Domestic Product (GDP) growth of  1% in 2021, while in 2020 MSMEs GDP is -7.3%.

This growth shows that opening a small business in Malaysia has great business opportunities. Here are some of the best business ideas in Malaysia:

1. E-commerce Business

More and more people are shopping online these days, which means there is a huge market for selling goods on the internet. 

Based on data from Statista, the number of users in Malaysia's e-commerce market is predicted to experience growth between 2024 and 2028, with a total increase of  7.6 million users (+34.94%) . 

This data shows that e-commerce’s demand will increase steadily over the years and become one of the most profitable small businesses in Malaysia. You can use popular online platforms or create your website, so you can reach a lot of customers without having a physical store.

Moreover, with online payments and better delivery services, it's easier to start and grow your business. 

By taking advantage of this opportunity and offering products or services that Malaysians want, you can achieve great success with your  e-commerce business.

2. Affiliate Marketing Business

This small business concept involves partnering with companies to promote their products or services and earning a commission for every sale or lead generated through your promotional efforts.

With online shopping platforms and digital marketing constantly growing, affiliate marketing is available as a low-risk opportunity to enter the small business in Malaysia

By maximising your online presence through social media platforms, blogs, or websites, you can effectively reach a wide audience and monetize your influence.

In addition, affiliate marketing allows you to work flexibly, without the need for any inventory or customer service, making it an attractive option for individuals looking to start a small business in Malaysia with minimal investment.

Read also: How to Start Business in Malaysia for Foreigners 2024

3. Computer and Smartphone Repair Business

Technology has become an essential part of everyday life and the demand for repair services is on the rise.

Offering a fast and reliable repair business, you can help people solve their common problems such as software glitches, hardware malfunctions, and screen crashes.

Utilizing technical expertise and providing exceptional customer service, entrepreneurs can start a business in the repair industry and build a profitable small business in Malaysia.

4. Laundry Service

Starting a laundry service business has great potential due to the busy lifestyles of urban dwellers and the increasing demand for convenient services.

You can offer services such as washing, drying, and folding clothes, or even providing pickup and delivery options. With your laundry service, you can help busy people to save their precious time.

In addition, by using eco-friendly machines and detergents, you can attract customers who care about the environment. This eco-friendly approach is in line with the growing sustainability trend, making it an interesting option for those looking to start a business in Malaysia.

5. Babysitting

Some parents in Malaysia, either the mothers or the fathers, are busy working to fulfil their daily needs. 

Their busy schedules make it difficult for them to look after their children, so they have to leave their children to daycare or places that provide babysitting services. 

This shows that the babysitting service can be a small business option in Malaysia, especially if you love kids or have a certification in this field.

This shows that the babysitting service is one of the most popular businesses in Malaysia and has a huge opportunity for people who want to start a small business. 

This service can help parents feel confident that their kids are in good hands while they're away. You'll get to spend time playing with children and keeping them safe and happy.

Therefore, with many families in Malaysia in need of flexible childcare options, starting a childcare business as your small business in Malaysia has a great chance of success.

Read also: How to Start a Manpower Supply Business in Malaysia in 4 Steps

6. Event Planning

Starting an event planning business as a local business in Malaysia is a smart move. Many celebrations and events are happening, there's a big demand for people who can help organize them.

Event planners handle stuff like finding the right place, sorting out food and decorations, and making sure everything goes smoothly on the big day. 

This service can help people to hold special events and make sure it will go well and be memorable for your clients.

Building an event planning business as a small business in Malaysia can be a promising business opportunity.

7. Pet Care Services

Pet care services can be one of the best businesses in Malaysia, especially for animal lovers. Many people own pets and treat them like family, so there is a huge demand for reliable and trustworthy pet care services.

Providing pet sitting, dog walking, grooming, and veterinary care can give pet owners peace of mind knowing that their beloved pets are in good hands.

In addition, you can also offer the best care and personalized services so that you can build loyal customers and develop a pet-friendly market in Malaysia.

8. Food Truck Business

Malaysia is known for its diverse cuisine and vibrant hawker culture, with many people looking for delicious and convenient food while travelling.

Operating a food truck not only allows entrepreneurs to showcase their culinary creativity but also allows them to reach a wide audience in various locations, from bustling city streets to popular events and festivals.

As the popularity of franchise business increases in Malaysia, starting a food truck venture presents an exciting opportunity. You can provide unique and flavorful dishes, combined with friendly customer service and attractive branding, this franchise business in Malaysia is worth exploring for aspiring entrepreneurs.

9. Oil & Gas Trade

Starting a gas and oil trading business as a local business in Malaysia presents promising opportunities for entrepreneurs in 2024. Malaysia, rich in natural resources, has a thriving energy sector with significant demand for gas and oil products.

With the country's strategic location in the heart of Southeast Asia and its well-established infrastructure, there are ample opportunities for import, export, and distribution of gas and oil products in the local market.

Entrepreneurs can capitalise on this demand by setting up trading businesses that serve various sectors, including industrial, commercial, and residential.

Local entrepreneurs in Malaysia can set up a successful gas and oil trading business by using their industry knowledge, forming good partnerships, and following the rules. This helps them deal with the complicated gas and oil market and build a thriving business.

Read also: How to Start a Construction Company in Malaysia in 4 Steps

Those are 9 small business ideas in Malaysia in 2024 that you can consider to build your future business.

Please keep in mind that no matter what business idea you choose, be sure to develop a precise business strategy so your business can grow rapidly. In this case, you need to develop a business structure concept and prepare a marketing strategy. 

One of the most effective marketing strategies used by small businesses in Malaysia is SEO, mainly due to its cost-effectiveness, which only requires minimal budget allocation. By implementing SEO, you can improve your online presence and engage more potential customers.

In addition, by creating  SEO-friendly content , you can target potential customers, and increase website traffic and revenue by using keywords that are relevant to your business.  

Try our  SEO Services now to find out how we can help you use relevant keywords to improve your business website!

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23 Profitable Business Opportunities in Malaysia You Probably Never Heard Before

Are you looking for the business opportunities in Malaysia?

There are several business ideas which are making money now , and you can ride the wave without thinking too much about what business you can start.

We will cover the business’ uniqueness, risks involved and starting capital.

Let’s dive right in.

23 Business Opportunities in Malaysia

Malaysians love fashion just like any other countries. It is undeniable many are concerned and are very much conscious about dressing well.

There are always opportunities for new investors to come up with a new style of fashion despite the fact that there are already plenty of fashion brands and outlets out there.

In Malaysia, in order to run a fashion business, you might want to consider the local fashion which has its own significance.

Having the knowledge on the country’s local fashion could help you to strategise your business.

Getting into this field can be the top small business opportunity in Malaysia in 2020.

2. Sell on Facebook or Instagram

At a low cost, you can reach a large and engaged audience. These platforms are the best converting platforms for selling products.

To make money and gain profit, you can sell you products through the platform.

It is convenient if you have a large following on social media. If not, you should spend some time to build the following.

One of the main benefits having a large following, even if you don’t sell products directly to customers, you can also help other people promote their products for a fee.

3. Sell on Online Marketplaces

Nowadays, there are plenty of online marketplaces which provide opportunities for people to do online shopping.

Selling on platforms such as Lazada and Shopee allows you to make a profit.

It is one of the lowest cost methods to start a business.

4. Social Media Consultant

Many companies are keen to improve their social media presence. They are looking for people who are well versed in social media.

If you have the knowledge and skills to become an expert, you should look for this kind of business opportunities.

5. Editorial

There are services such as copyediting, proofreading, copywriting and many more. You can earn money by using your writing skill .

There are several editorial services you can provide without any initial monetary investment.

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6. online hotel booking business.

Malaysia is a beautiful country with plenty of great attractions. The online business of hotel booking has its own significance.

With some partnerships and links with some hotels, you can start. Payments will be on their terms and conditions.

7. Smartphone and Personal Computer Repairing Startup

If you have a skill to repair devices, you have an incredible opportunity to start your own business!

There are a lot of people out there want their faulty devices to get repaired rather than being thrown away.

8. Airbnb Business

Airbnb is a popular choice among travellers. You can Airbnb your property to people to earn extra money.

You can make much more letting it out on Airbnb compared to renting it monthly or yearly basis.

9. Real Estate Business

The demand for real estate is getting higher especially in high demand location such as Kuala Lumpur, Penang and Johor.

10. T-shirt Printing Business

T-shirts businesses is hugely popular and the demand is always increasing.

You will need to have t-shirt designs that people love and make sure the quality is good.

11. Mobile phone accessories business

This can be highly profitable but also highly competitive because people use smartphones nowadays.

To stand out beyond the rest, try to find a place with limited competition.

12. Photography Service

Being a photographer, with all the necessary skills, is an exciting prospect.

People always opt to hire a professional photography for big events which pay a huge amount of money per event.

13. F&B business

This takes time to grow because it is a competitive business.

You need to be creative operating this business to really differentiate you from your competitors.

You can always start small by taking orders from Facebook and do delivery services.

14. Food Truck Business

In contrast to owning a restaurant, food truck business requires a small team to run the business.

If you’re looking to expand your business, you can also move from one location to another to test the market demand.

15. Coway/Cuckoo Agent

This requires you to be a water filter specialist.

These brands are popular in the country as there are many customers all over the country.

Make good use of your social media presence to attract customers.

16. Resume Writer

Not all people who are looking for jobs are good resume writers.

With your expertise in writing, you can make some solid money and also change someone’s life.

17. Life Coach

If you have a credential in psychology or psychiatry field, you could help people to deal with issues.

Clients expect you to show a solution to solve their problems. You are also getting money from the clients.

18. Commercial Car Dealer

Believe it or not. You can now sell cars online.

There are people who have been successful doing cars business online by selling dozens of cars monthly.

19. Professional Services

Lots of businesses are emerging on small scales each day.

Business owners need the assistance of accountants and other professionals to manage their matters.

You can start earning money by offering the services.

20. Sales Script Writer

This is a huge opportunity for you to help a business to grow.

Besides salespeople, every business needs cash generating sales scripts.

21. Health/Beauty Product Agent

One of the most profitable business in opportunities in Malaysia is selling health and beauty products.

Many people are self-conscious and constantly want to appear good-looking all the time.

This can be considered one of the most common online business idea in Malaysia.

The margin profit and marketability of this kind of business are the reasons why people get into the business.

22. Online Marketing Expert

Becoming an online marketing expert is for you if you have the skills and expertise.

You should be able to guide businesses how to turn their business into an unstoppable money machine.

23. Youtube Content Producer

Malaysia online marketers make a lot of money from Youtube by producing viral-worthy videos.

Youtube will pay you if a video reaches a certain number of viewers. Besides that, you also get paid by reviewing products from businesses.

With this list, you can go through and assess your options on business opportunities in Malaysia.

There are tons of ways for you to earn money. You just have to have guts by exploring.

In Malaysia, there are always opportunities for you to make yourself some money and have a good life.

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How to Start Up a Business in Malaysia 2024

Updated on : Mar 20th, 2024

Malaysia, ranked 24th in the World Bank's Ease of Doing Business in 2018, and has emerged as a vibrant hub for business opportunities. However, navigating through the process of setting up a business requires careful planning and understanding of the legal and regulatory environment.

Starting up a business in Malaysia involves a structured approach catering to local and foreign entrepreneurs. Below is an informative guide on how to start up a business in Malaysia, incorporating essential steps and practical advice.

Planning and Preparation

Before diving into the business world in Malaysia, consider the following steps:

Define Your Business Idea and Plan : Identify your target market, understand the problem you're solving, and conduct a SWOT analysis (strengths, weaknesses, opportunities, threats). Ensure you have a solid business plan in place, considering factors such as funding, capital needs, and market research.

Naming Your Business : Choose a unique and memorable name that aligns with your business type. Check for domain name availability and conduct an official business name search through Suruhanjaya Syarikat Malaysia (SSM).

Find a Business Location : For physical stores or specific business types requiring space, select an appropriate location. Home-based businesses can bypass this step.

Registration and Licensing

Starting a business in Malaysia involves a three-step process, each crucial for ensuring your business is legally compliant and set up for success. Here's a simplified and structured guide with key points highlighted:

Step 1: Preparation for Registration  

Selecting a business structure : Choose the most suitable form for your business. Options include sole proprietorship, partnership, limited liability partnership, private limited company, public limited company, branch office, representative office, or subsidiary company. The foreign companies have additional considerations.

Choosing a company name : Acclime can assist in conducting a name search. Ensure the name follows Malaysian guidelines - proper language use, no offensive or religious elements, and compliance with specific naming rules.

Appointing key officials : Decide on your company's directors (minimum one, natural person, aged 18 or above), shareholders (minimum one, can be an individual or a body corporate), and a company secretary (a member of a professional body or licensed by the SSM).

Registered office address : Choose a legitimate office address for receiving formal communication; P.O. boxes aren’t permitted.

Share capital requirements : Determine your share capital, with a minimum requirement of RM1.  

Step 2: Registration

Company registration with SSM : Register your company name with the SSM, which, once approved, is reserved for 30 days (extendable for another 30 days for a fee).

Required documentation : Prepare and submit necessary documents, including the Constitution (optional), Declaration by a director or promoter, Declaration of compliance, and copies of directors' identity cards.

Step 3: Post-Registration

Opening a corporate bank account : Choose from various local and international banks like Maybank, CIMB Bank, etc. Required documents include completed application forms, possibly a letter of introduction, company’s rubber stamp, photocopies of directors’ IDs, and board resolutions.

Obtaining business licenses and permits : Secure general, sector/industry-specific, and activity-specific licenses. General licenses include company registration, tax registrations, EPF, PERKESO, and others.

Determining tax obligations : Understand your company's tax obligations, which vary depending on several factors. Malaysia has specific tax rates for residents and non-residents.

Appointing auditors : Necessary for all companies, with specific timelines for newly incorporated entities.

Registering for employee provident fund : This includes registration for both, employers and employees, with specific documentation required.

Key government agencies and organizations offering support to businesses

In Malaysia, several key government agencies and organizations offer support and resources to businesses, especially those in the start-up phase. These entities provide a range of services, including registration, financial assistance, training, and more. Here's a list of some of the most significant agencies:

Suruhanjaya Syarikat Malaysia (SSM) : SSM regulates companies and businesses, handles new registrations, and provides compliance guidelines.

Malaysian Investment Development Authority (MIDA) : As the government's main agency for industrial development, MIDA advises on investment opportunities and assists companies investing in Malaysia.

Companies Commission of Malaysia (CCM) : CCM is crucial for business registration and incorporation, offering services like registration, renewal, and compliance support.

Small and Medium Enterprises Corporation Malaysia (SME Corp. Malaysia) : Under the Ministry of Entrepreneur Development, SME Corp. Malaysia formulates policies for SMEs and coordinates development programme.

Malaysia External Trade Development Corporation (MATRADE) : MATRADE, the national trade promotion agency, assists in developing external trade, with a focus on export promotion.

Ministry of Entrepreneur Development and Cooperatives (MEDAC) : MEDAC aids entrepreneurs and cooperatives through training, financial assistance, and advisory services.

Human Resources Development Fund (HRDF) : Part of the Human Resources Ministry, HRDF focuses on developing the local workforce, aligning with Malaysia's economic goals.

Pertubuhan Keselamatan Sosial (PERKESO) : PERKESO provides social security protection for work-related accidents or diseases.

Starting a business in Malaysia involves several critical steps, from understanding the right business structure to ensuring compliance with various governmental agencies. Navigating this process can be complex, but with the right support and guidance, it becomes manageable and rewarding. Agencies like Suruhanjaya Syarikat Malaysia (SSM) and the Malaysian Investment Development Authority (MIDA) play significant roles in this journey, offering necessary resources and regulatory frameworks.

To simplify this process, ClearTax offers an efficient and user-friendly solution, making the task of setting up a business in Malaysia much easier. By leveraging ClearTax's expertise, entrepreneurs can seamlessly navigate through the intricacies of business registration, compliance, and other essential aspects, allowing them to focus more on growing their business in the dynamic Malaysian market.

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7 Business Idea You Can Start Today With RM5000 (2023 Edition)

Is there any business idea that is simple and makes you able to generate money from home? Bear in mind that not all have the guts to start their own business. But to become a businessman, you need to think like a businessman. And the best way to generate money from your home comfort is to fully utilize your potential and hard earned skill.

This article is not just a compilation of business ideas, but a realistic idea that has been proven successful by Malaysians. With the right idea (and attitude), you’ll finally find a way to grow it as a business, or at least, generating income from home.

In practical terms, you don’t have to follow all the ideas given. Just go through all of it and pick one or two ideas at one time, and hustle it until you’ll achieve what everyone wants – financial freedom and no more working 9 to 5. For your information, there are three types of business you can venture in.

3 Types of Business You Can Do Today 

1. sell products.

The simplest method to start selling a product is to become a dropshipper. Buy the product directly from the brand at a low price, and sell it at market price. That small margin is your profit.

Secondly, you can make your own product and sell it to the right target audience that really needs it. To sell it from your home, you’ll need an online store or your own e-commerce website to serve as a storefront, a functional catalog, secured payment method and robust delivery. There are a lot of third parties that are more than willing to help you with these.

2. Offer Services

You can offer your skill and expertise as service. The advantage of this is it has a low start cost and is easy to start. But, you’ll need a lot of effort and time to do service compared to selling a product.

3. Promote Digital Products

The third type is to promote digital products as an affiliate or referral program opened by other businesses. To successfully generate income with this, you need to build a digital asset like subscribers, database and social media account so that you can promote the item to the correct audience.

7 Business Idea You Can Do With RM5,000

1. sell household item via marketplace.

Served as a platform to link between sellers and buyers online, there are more than 10 domestic and international marketplaces that Malaysians buy and sell everyday.

Selling through Shopee, Lazada, Mudah, PG Mall, AliExpress (just to name a few) is a common yet popular way to generate money from home. The key is to sell a sellable yet profitable product.

2. Digital Marketing Services for Business

Skill for service; it became more and more prominent as businesses aiming to sell more via content material. 

So you can offer being a video editor, working on short videos and specials for Tiktok for example.  Or you can be a content creator, representing a business, creating engaging, inspirational or educational content for brand followers or viewers. Or even you can be a digital writer, writing content in blogs, websites or social media.

These services usually served as contracts. Securing a few, you can start generating money from home in no time.

3. Invest in Stock Market 

You love risk and studying numbers and trends. So investing in the stock market may be one of many answers to you.

In stock markets, you can generate a 20% profit in under a minute or a 25% loss a minute after. But if you know the right technique and have done your homework on studying the company that you want to bet on, you’ll definitely be able to generate income. Personally, it’s a bit riskier than conventional business. Never use your hard earned money on this!

4. Sign Up as Agents/ Stockist for Hot Selling Item

Being a dropshipper is about buying your supplier or HQ products at a lower price and selling it to their targeted customers at market price.

It’s a good and lesser risk as you don’t have to manage stocks and delivery. What you need to do is just promote the product and get paid. Being a dropshipper, you can generate up to RM10000 a month as long as you don’t stop promoting the product via social media.

5. Sell Healthy Food

Malaysians are now more aware of their health and diet. They want to lose weight, be healthier and more confident. So selling healthy food is now getting traction. Take confinement meals for new mothers or vegetarians for example.

So you can put your culinary skill into good use like preparing and selling healthy menus to customers. Take advantage of your social media present, marketplace or websites to find your customers.

6. Promote House For Rent / Airbnb 

There are thousands of searches on room rents, house lets and airbnb via Facebook Group and Google. This business idea requires you to be detailed and fast. Most importantly you need to tailor your offering so that future tenants are unable to resist.

This could work as you work along with owners on targeted areas and promote it via group channels or property sites.

Let’s say, the house rental is RM900, and the owners ask for a 1+1 for deposits. You can deal the extra RM900 as your commission.

7. Consultation & Short Course

If you happen to have a skill and experience that you think is valuable to share, you can start a short course. There is a lot of demand for online consultation and short courses.

As long as you are willing to conduct a class in the evening or on the weekend, you’ll guarantee to conduct one. This is because Malaysians nowadays are hungry to upskill themselves.

Challenges in Doing Business in 2023 

1. Work in Silo 

Being in silo means you don’t have colleges, friends to advise or to give an opinion on what you are doing. It’s solitary but then it’s a choice not to. Always keep in touch with friends within the industry to keep the networking alive.

2. Less Time For Family & Friends

At the beginning, your time on building and generating income will be demanding. You need to make use of your spare time now for generating more money.

3. Workstation at Home

Working at home is a different environment compared to working in the office. There are a lot of distractions like binge or neighbour doing wall drilling. So you need a strong motivation to work everyday and continue working despite all those distractions. And bare in mind, working from home is longer than working in the office.

4. Hard to Scale Business

To scale a business, you need to focus on the business and not the small hassle routine. The only way is to hire to fill that hassling routine. Unfortunately, not all are willing to pay or hire others in the early stages of business. So prepare to do everything on your own at first!

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Trading ideas: Paramount, CelcomDigi, InNature, AwamBiru, Nova MSC, Cuscapi, BHIC, Sarawak Cable, Pharmaniaga

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Monday, 13 May 2024

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KUALA LUMPUR: Here is a recap of the news headlines from Corporate Malaysia.

CelcomDigi Bhd has completed 44% of its nationwide network integration and modernisation programme as it modernised over 7,200 sites as at end-April.

Main Market-bound Feytech Holdings Bhd's initial public offering was oversubscribed by 15.6 times.

Tags / Keywords: Trading ideas , Apex , Paramount , CelcomDigi , InNature , AwamBiru , Nova MSC , Cuscapi , BHIC , Sarawak Cable , Pharmaniaga

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