Looking to Open a New Business? Try Malaysia

A business meeting

Known for its great beaches, shopping districts, rainforests and the Petronas Twin Towers, Malaysia is a natural magnet for tourists from around the world. But entrepreneurs and investors may likewise find business opportunities in this Southeast Asian nation. Sitting next to highly developed Singapore and consumer market-driven Indonesia, Malaysia has become a thriving business hub.

PlaTCOM Ventures Sdn Bhd shares more information about the country’s growing economy.

Small and medium-sized enterprises (SMEs) and research organisations can get help from a consultant company in Malaysia. Business opportunities are endless. Even those with a limited capital can start their business there through crowdfunding, especially if their project is advocating a good cause.

Malaysia’s private investment and consumption have remained robust, with a growth rate that hits 4% on average, making it an ideal location for any business. Setting up a shop is also not as different or difficult compared to other countries.

Here are some of the top business opportunities that you can find in Malaysia:

Food

You do not need to sell purely Malaysian cuisine, as even fast food and snacks are a hit among locals and tourists. As such, setting up a food business would be a good idea.

Funding services

The country is seeing more start-up companies, and they will need the capital to run their business. A microfinancing enterprise can thrive in this situation.

Tourist services

A new hotel or resort will not run out of guests in Malaysia, as the country frequently gets included in the bucket list of travellers, thanks to its reputation as a place worth the visit. Even small businesses that cater primarily to tourists will find great success here.

Taxi service

There is a high demand for local taxi services in Malaysia—another direct result of the country being a tourist and business hub. Owning a fleet of cars to serve tourists and locals can pay a lot of dividends.

Travel agency

In 2016 alone, about 26.8 million people visited Malaysia, with most of them likely using the services of travel agencies to arrange for their flights, book hotels and even come up with their itinerary.

Oil and gas products retail

Kerosene and natural gas are in demand in Malaysia, which is why retail stores that sell gas products can succeed in the country. A gas refilling station is likewise a good venture.

The good thing about starting a business in Malaysia is that you can rely on the full support of the government to succeed, in line with its objective of doubling the country’s economic growth by 2020.