Looking for a good business to do in Malaysia? Here are five of them
To some, Malaysia, just like many other countries out there, is a land of opportunity. Surely, there will be a good business to do in Malaysia. To others, it’s just a bad economy.
The former would brainstorm ideas on what business to start. The latter, on the other hand, choose to lament how bad the country is and keep telling others that all businesses are destined for eventual failure.
Whatever you want to feel, the choice is yours.
If you belong to the first, just in case you are still contemplating what you can do to kick off your entrepreneurial journey, perhaps the following business ideas might get the creative juice flowing out of your brain. Rather than mentioning specific business, the ideas are presented by field or industry instead. Look further and look harder, you may find a sparkling diamond.
Yes, food. Whether the economy is good or bad, people eat. And they will continue to eat for as long as they need to live. The recipe for success in the F&B business are; one – tasty food; two – start up customer base and three – good service. Regardless how small your initial customer base, serve your good food well and you’re bound for stardom. The same exact recipe brought the likes of Kluang Station all the way to Kuching, Rotiboy from Bukit Mertajam to KLCC, and The Chicken Rice Shop to Europe.
Having the perfect wedding, with the perfect couple is everyone’s dream. After all, it’s pretty much safe to say that those who got married intended to do only once, no matter how things turn out to be. While there are a number of companies out there which can offer a one stop wedding package solution, many of them started by offering smaller services such as dais arrangement & decoration (pelamin), photography, videography, customized gifts and so on. Choose one and start giving your best shot, there will be more business to come.
In a country rich with natural resources, it will be a shame if no advantage is taken. For the past decade, the government has allocated billions of fund for those who aspire to embark on a business in agriculture but are financially challenged to do so. If that’s not enough, there are many courses around that will train entrepreneurs to make a kick start. There are many stories of young graduates who found it difficult to find job but make their first thousands by breeding catfish and goats, or growing chillies and corns.
While the internet and e-commerce is making a big wave in the global front, Malaysia is still relatively considered an untapped market. Only a handful of players are making it big here, such as Air Asia, eBay, MPH, Lelong and Mobile88. The rest of them are either surviving or dying. There are also a number of local internet marketers in Malaysia today who are emerging with their own created digital and physical products, so certainly, the future looks good.
If the manufacturing sector has been dominating the country’s economy for the past decade, now it’s the service turn. The last quarter of 2007 economic report saw the service sector overtaking manufacturing as the number one industry in Malaysia. Some of the service business, such as consulting, training, IT development, translation and writing does not require huge capital investment, and this will prove to be a winning point.