If you’re looking to start a business in Malaysia, this post provides a list of the most successful small business opportunities in the country for inspiration.
Malaysia is located in Southeast Asia and has a relatively open and high-income economy. It has streamlined its commercial sector to include activities of higher value both in industries and services. Furthermore, the nation is a primary exporter of electronic devices, pieces, and components, palm oil, and natural gas.
Manufacturing contributes significantly to Malaysia’s economy, making up more than 40% of the GDP. In 2016, the World Bank’s “Ease of Doing Business” report ranked Malaysia as 18th in the world and second in Southeast Asia, after Singapore.
The Malaysian government has created PEMUDAH, a task force that strives to make the country’s business environment more conducive. This is an ideal time to embark on a business journey in Malaysia.
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20 Low-Cost Business Ideas & Opportunities in Malaysia
Here is a list of preferred small business ideas that you can initiate in Malaysia:
1. Start an Online Business
Exploring business opportunities in the comfort of your own home? The online platform is a great place to start. Blogging, affiliate marketing, dropshipping, freelance writing – there are plenty of opportunities out there. Check out our list of recommended online business ideas for more information.
2. Restaurant Business
With its attractions for travelers from all over the world, Malaysia is an ideal place to start a restaurant business due to the country’s business-friendly environment. If you can find the right location, it can be quite profitable.
3. Amusement Park
Attracting thousands of domestic and foreign visitors every year, tourism is a crucial business in Malaysia. This has made the idea of starting an amusement park particularly lucrative. Of course, for this to be successful, it requires strategic foresight and a significant sum of money.
4. Start an Automobile-Related Business in Malaysia
The automotive industry in Malaysia is booming, and it’s the 22nd-biggest car maker globally. This presents many opportunities for entrepreneurs to start their own businesses.
5. Computer Business
Malaysia is a marvelous country for computer-connected businesses. This zone has many alternatives, from creating a small-scale manufacturing business to marketing computer merchandise. Additionally, there are numerous tech-oriented chances you can initiate from your own house.
6. Consulting Services
Offering expert consulting is a great way to make money. You can start this business from home, but you must have the necessary knowledge and expertise.
7. Electrical & Electronics
Malaysia’s electrical and electronics industry is its leading manufacturing sector, with mobile devices, storage devices, optoelectronics, and embedded technology as some of the major exports.
8. Oil & Gas
The oil and gas industry of the country is full of potential. Additionally, it exports petroleum products and natural gas, making this a great industry for entrepreneurs to begin a business in. There are numerous possibilities for small and medium-sized businesses to explore.
9. Real Estate
The real estate market in Malaysia is expanding, and the government is taking multiple measures to allow low to medium-income individuals and young people to buy homes. In July 2011, they released the Malaysia People’s Housing (PR1MA) Bill 2011. You can establish a real estate company in the nation through numerous means.
Demand for real estate in cities such as Kuala Lumpur, George Town, Johra Bauru, and Ipoh is increasing.
10. Rubber Plantation
Natural rubber is an important resource in this nation. Agriculture is a major contributor to the economy, and rubber plantations are very profitable for their owners.
11. Tourism
Tourism is an enormous industry in Malaysia, with the UNWTO ranking the country as the 10th most visited in 2012. The nation has a wealth of diverse nature-based tourist attractions that are highly beneficial to its tourism sector.
12. Transportation
The transportation sector in the country presents small and medium-scale businesses with a range of opportunities. However, for long-term success, careful planning and effective promotion are key factors.
13. Open A Clothing Store
Fashion is popular among Malaysians, so if you own a retail store in a commercial area, starting a clothing business can be profitable.
14. Smartphone Repair Shop
The booming sales of smartphones signify a probable rise in needing to repair defective models, indicating an ever-increasing demand.
15. Airbnb Business
Tourists are increasingly turning to Airbnb for accommodations. If you own a property in a popular destination, consider renting it out on Airbnb.
16. Provide Photography Services
Photographers with the right experience can easily find customers in Malaysia as more and more people are needing professional photography for events such as weddings and corporate parties.
17. Sell Mobile Phone Accessories
There is excellent potential for a retail business to thrive in Malaysia due to the booming mobile phone accessory market.
18. Open a Coway or Cuckoo Agency in Malaysia
In Malaysia, becoming a Cuckoo agency can be lucrative for a water filter specialist.
19. Food Truck
For Malaysians who are short on funds yet interested in entering the restaurant industry, owning a food truck business is a viable option.
20. Car Rental Business
Car rental businesses are becoming more popular in Kuala Lumpur and other areas of the country, making it an ideal place to start such a business with the potential for success.
This nation is rich in business prospects, has a pro-business atmosphere for startups, and is the ideal spot for foreign entrepreneurs to begin their businesses.
So, here are the best businesses to start in Malaysia
- Start an Online Business
- Restaurant Business
- Amusement Park
- Automobile Related Business
- Computer
- Consulting Services
- Electrical & Electronics
- Oil & Gas
- Real Estate
- Rubber Plantation
- Tourism
- Transportation
- Food Truck
- Car Rental
With this selection of profitable small business opportunities in Malaysia, we hope to help you make an informed decision.
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