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Sitting next to a knowledge driven economy to its south in Singapore, and with a large consumer marker in nearby Indonesia, Malaysia is in a unique position in South East Asia. Malaysia, led by Prime Minister Najib Razak, is setting growth targets for itself, aiming to double its economic growth by 2020. To this end, the government is putting in place various measures to encourage foreign investors to explore the various business opportunities available in the country.
So if you are an entrepreneur with the ambition to start a business in Malaysia, then you should consider the following business opportunities. They are the hottest in Malaysia right now, due to latest trends.
Top 10 Small Business Investment Opportunities in Malaysia for 2019
Because Malaysia is a business hub, many people travel in and out of the country for business purposes. This amounts to huge opportunities for travel agencies and businesses that cater to travelers directly or indirectly. So, if you are looking to start a business in Malaysia, one smart option is to start a travel agency. It requires low capital, it’s easy to start, and the returns are huge.
Malaysia plays host to several thousands of visitors every year. This leaves lot of profit to be made by investors in the country’s tourism sector. If you have a big budget, you can build a hotel or resort in Malaysia that caters to tourists that visit the country on vacation. Small businesses can also tap from the sector by offering products and services that cater to tourists as well. So, whether your budget is big or small, you can always make money from Malaysia’s tourism sector.
Malaysians, like every other people, love fashion. They show great concern for what they wear and what they look like. Though there are many fashion outlets spread all over the country, there is enough room for new investors to make money. If you’d like to start a fashion business in Malaysia, keep in mind that local fashion sells best. So, you will need to learn about this if you are not a native of Malaysia.
Foods and snacks
Fast foods and snacks really sell in Malaysia. So, there are huge opportunities for businesses that package and sell fast foods and snacks like ice-cream and yoghurt. Starting a food business is very easy and requires little capital. So, you will quickly make money from this business — and it doesn’t matter if you are a native of Malaysia or not.
New businesses, especially small businesses are springing up daily in Malaysia. And to thrive in the long run, these businesses need funding, which they can readily get from microfinance banks. So, microfinance banking is a hot business opportunity for investors to explore. If you have a background in banking and finance, and you have the required startup capital, you can start a microfinance bank that caters to individuals and small businesses.
Oil and gas
Oil and gas products sell very well in Malaysia. And no, you don’t have to be a millionaire in dollars to start this business. With a few thousand dollars, you can be a retailer for various oil and gas products such as kerosene and natural gas. And if you have a fat amount to invest, you can open a filling station that sells a wide range of products from the oil and gas industry.
More Malaysians are becoming aware of the huge opportunities available in online business. Most college students and graduates are making lots of money from various online businesses such as website design, freelance writing, affiliate marketing, professional blogging, information marketing, and so on. With a solid knowledge of how things work, you too can make lots of profit off the internet while working from the comfort of your home.
With many new small businesses emerging with each passing day, business professionals have a steadily growing market to cater to. Most small businesses require the services of bookkeepers and accountants at the very basic stages of their operations. So, if you have a background in accounting, bookkeeping, or some other specialty that caters to small and medium scale businesses, you have huge opportunities at your fingertips.
Local taxi service
If you have a car that you don’t use most of the time, you can convert it into a taxi. You will make a decent income from this business because there is a high demand for it.
Smartphone and PC repairs
More than half of Malaysian adults have a smartphone or PC. This means there are opportunities for businesses that help to fix problems with these devices. People would rather repair their systems than throw them away after they get damaged. So, if you have a knack for fixing faults in electronic devices, here’s a golden opportunity for you to make cool cash.