10 Perfect Business Opportunities in Malaysia

10 Perfect Business Opportunities in Malaysia

There are many business ideas that one can explore in Malaysia and all it takes is perseverance. Malaysia is strategically located beside Singapore, a knowledge based economy and Indonesia, largest consumer market in South East Asia. Prime Minister Datuk Seri Najib Razak has an ambitious economic growth target of doubling GDP by 2020. It has put in place many measures to attract foreign interest for setting up businesses in Malaysia. The coming paragraphs will set you on the right direction in terms of some of the best business trends in Malaysia.

First and foremost, the top business start-up is launching a travel agency. Malaysia is regarded a business district with frequent business traveller going in as well as out of Malaysia. The potential market is huge if you can carve out services specially tailored for the business travellers that are not price sensitive. The potential returns are unlimited and it requires extremely low amount of capital. Next is to make a name in the tourism segment. Malaysia hosts thousands of foreign tourists each year. Big bucks can be made for those dabbling in the travel industry. For those with sufficient capital, you can consider building a hotel chain in various tourist hot spots where there are never ending demand all season. You can offer products such as tour packages and travel related services. Budget is not a huge concern as you can always start small. Did you know airline operator AirAsia started in Malaysia.

Fashion industry in Malaysia is a good sector to venture into. Fashion is a hot topic among Malaysia citizens with heavy apparel consciousness. Fashion outlets have already flooded the market but there are still enough demand for newcomers. Learn the local tastes and culture before starting out you own fashion outlet. One can consider selling foods and various snacks in Malaysia. Malaysians are some of the best food eaters with a huge appetite to try out new things. Some of the food segment one can consider venturing is fast foods such as ice-cream or frozen yoghurt. Capital requirement is minimal as well. You can break even easily with a good concept. Remember Lazada launched operations in Malaysia back in 2012 and is now Southeast Asia's number one online shopping and selling destination, with presence in Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

Businesses need investors or other forms of funding to get their operations going and there are no ends to small businesses starting up every day in Malaysia. You can tap the financing markets by starting up a microfinance company that funds small businesses for a return on your capital. Having experience in the finance sector is a plus. Malaysia is a producer and exporter of oil products. One can consider selling oil as well as gas products around Malaysia. Capital requirement for starting out as a small retailer is low which you can begin by selling small ticket items like kerosene. Once you have achieved sufficient scale, you can expand by launching a gas filling station that has all assortments of oil products. Financial services company iMoney.my is based in Kuala Lumpur.

Internet businesses are another hot opportunity for exploration. They can throw off good money if you know the ins and outs. Many graduates have made good profits doing website design, blogging, writing on a freelance basis and many more. The market on the Internet is huge and best perk is being able to work from home. If you have the requisite professional knowledge in accounting or law, you can set up a professional services consultancy business to help provide advice for small businesses starting each day. Accounting as well as bookkeeping services will always be needed and having the skills is imperative.

Transportation in Malaysia has huge potential as current taxi services are lacking in supply. Cars that are left idle at home can be transformed into taxi via Uber services and you can start making money off driving passengers to their desired destination. Many people are in need of transportation services every day and decent living can be made. Smartphone is in the pockets of every adult and probably kids still in school. About 50% of Malaysian grown-ups own at least 1 smartphone. Huge opportunities abound for those people with the skills to perform smartphone and electronics device repair works. It is much more cost effective to repair a damaged system rather than buying a brand new one. It is one of the golden money making areas should you have the requisite skills.