In this article you will find the best advice from our professional and experienced analytic team regarding the fact that you want to start a business in Malaysia. In this post, we have put together a list of the most profitable small business ideas in Malaysia to inspire you to start your own business venture.
Malaysia is a southeast Asian country. The country has a highly open, upper-middle-income economy. The country’s economy is shifting 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.
Manufacturing has a large influence on the country’s economy, accounting for over 40% of the GDP. The 2016 edition of the World Bank’s “Ease of Doing Business” report ranks Malaysia at 18 in the world and the second in Southeast Asia—behind Singapore.
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.
19 Low-Cost Business Ideas & Opportunities in Malaysia
Find Below a list of preferred small business ideas that you can easily start 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 destination 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, a 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.
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. Computer Business
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 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 of the specific subject.
7. Electrical & Electronics
The electrical and 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.
7. Oil & Gas
Oil and gas are the promising industries of the country. Furthermore, it is an exporter of petroleum products and natural gas. So you can start a business in this industry. There are several business opportunities on a small and medium-scale basis.
9. Real Estate
Malaysia’s real estate market is growing. And the government 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 various ways across the country. 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 plantations are profitable and give lucrative profits to the farm owners.
Tourism is a huge sector of the Malaysian economy. The 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’s becoming an asset to the country’s tourism industry.
Transportation is another thriving sector in the country. Furthermore, it provides entrepreneurs with a variety of small and medium-sized business opportunities. However, strategic planning and the right promotion are important to achieving long-term success in the industry. 13. Open A Clothing Store
The people of Malaysia are mostly fashion-loving. If you have retail space in a commercial location, starting a clothing shop can bring good profits.
13. 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.
14. Airbnb Business
Outside travelers are increasingly choosing Airbnb as a lodging option. If you have a property in a tourist destination, think of renting it on Airbnb.
15. 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.
16. 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.
17. Open a Coway or Cuckoo Agency in Malaysia
Starting a Cuckoo agency can be a profitable venture in Malaysia if you are a water filter specialist.
18. Food Truck
For Malaysians who are short on budget but interested in entering the restaurant business, owning a food truck business is a good alternative.
19. 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 fully business-friendly environment for startup entrepreneurs. Furthermore, it is the best place to start a business for foreigners as well.
So, here are the best businesses to start in Malaysia
- Start an Online Business
- Restaurant Business
- Amusement Park
- Automobile Related Business
- Consulting Services
- Electrical & Electronics
- Oil & Gas
- Real Estate
- Rubber Plantation
- Food Truck
- Car Rental
We hope this list of profitable small business opportunities in Malaysia will help you in making an informed decision.
To sum up this article, we would like to announce our plan to expand our business in a fast-growing country with tons of opportunities, including a payment gateway. Taking into consideration that Thunder X Pay is the biggest and best payment gateway in Southeast Asia, it seems our customers will be more than happy to expand their business and grow together with our company in Malaysia.
We look forward to joining Thunder X Pay and cooperating in the near future.
By Michael Saichuk