Starting a business in Malaysia

Being an entrepreneur in Malaysia. With the recent challenging global market there have been many new entrepreneur and many whom are thinking of being one to join the many others whom have had a natural itch to become one.

The drivers? Recent retrenchment, threat of retrenchment, toughening situations in employment, the need to for opportunity to grow their income. Now the opportunities are many and varied as with anything.

Today you have app driven driving opportunities from ride sharing/hailing like uber, grab, to transporting of goods or packages like lori and kaodim. Personalised skills and more. See the list of apps below:

1. GoCar (gocar.my) – car rental/sharing.
2. Uber/Grab – ride sharing
3. The Lorry (thelorry.com) – rent lorry, van, 4×4
4. Serv (serv.my) – service your vehicle without going to the workshop
5. The Battery Shop (thebatteryshop.my) – delivers car batteries within an hour
6. Carput (carput.my) – petrol delivery, flat tyre change & towing services
7. Kfit (kfit.com) – book slots at gyms, spas, workout studios
8. Kaodim (kaodim.com) – find service providers
9. Bfab (bfab.my) – booking service for manicures, massages, hair removal service etc.
10. Supahands (supahands.com) – will connect you to businesses, data entry work, accounting work
11. PantangPlus (pantangplus.com) – for young urban mums who wants service while they’re on pantang
12. BookDoc (bookdoc.com) – connects you to healthcare professionals near you
13. Helpr (helprnow.com) – platform for personal shoppers
14. PasarTap (pasartap.com) – delivery service for market stuff. RM3 charge for same day delivery
15. Recommend (recommend.my) – on-demand home improvement site
16. PostoExpress (postoexpress.com) – despatch drivers who deliver within 3 hours
17. Zyllem (zyllem.com) – connects you to freelancers, local couriers & delivery drivers. 1 hour delivery.
18. GoGet (goget.my) – pick up, delivery stuff, ask them to shop for you, deliver food, helpers, odd jobs
19. AutoCraver (autocraver.com) – sell your car here and dealers will make a bid
20. Content (content.co) – connects you with content writers
21. Foodmatters (my.footmatters.me) – delivers healthy, home-cooked meals to your doorstep.
22. DahMakan (dahmakan.com) – similar to foodmatters
23. GiveReceipt (givereceipt.com) – generates officical digital receipts and emails them to customers
24. Parkeasy (parkeasy.co) – book parking bays at malls
25. Aiskosong (aiskosong.launchrock.com) – lists stores near you that offers student discounts
26. Gigfairy (gigfairy.com) – event management, book emcee, artists, bands for booking
27. Shoppr (shopprapp.com) – search for brands and it’ll direct you to online shopping sites
28. HonestBee (honestbee.my) – grocery, food and laundry delivery service
29. Speedrent (speedrent.com) – deal direct with owners, no agents
30. BigCast (bigcast.my) – marketing platform that connects you to advertisers
31. iPrice (iprice.my) – gathers products from other e-commerce sites to one single platform
32. CatchThatBus (catchthatbus.com) – buy bus tickets online
33. BeBonobo (bebonobo.com) – a website that lets you easily find things you need from your neighbors – for free.
34. MaidEasy (maideasy.com) – book a 2 or 4 hour slot for maids and they will deliver
35. WanderZoom (wanderzoom.co) – book a photographer for any event
36. FlexiStorage (flexistorage.com.my) – rent storage space
37. Skolafund (skolafund.com) -for underpriviliged students for tertiary education
38. Piktochart (piktochart.com) – offers templates for design
39. Foooqy (foooqy.com) – home-cooked dishes for delivery
40. Currenseek (currenseek.com) – book exchange rate and collect from money changers of your choosing
41. Kakitangan (kakitangan.com) – they handle HR matters for small companies.
42. Hostel Hunting (hostelhunting.com) – for students looking for hostels/room to rent near their campuses
43. Watch Over Me (watchovermeapp.com) – tracks your location and alerts people you choose during an emergency
44. Booku (booku.rent) – rent books
45. Petsodia (petsodia.com) – find hotels for your pets
46. Halal Navi (halal-navi.com) – finding halal restaurants near your location

You also have multi level marketing activities that you can get in to. You can have a look at the list below:

  1. Amway
  2. Cosway
  3. many more from whom have have been around a long while with traditional methods to the current internet and app forms.

Independent portals and online businesses for self selling or buying of products that are structured. The sample list is as below:

  1. www.stemtech.com/my/signup/SignupOptions (Id 5924517)
  2. http://smebold.com/
  3. www.mudah.my
  4. www.lelong.com.my
  5. www.amazon.com
  6. www.ebay.com
  7. www.11street.my/
  8. www.lazada.com.my/

You have also cryto currencies and currency trading activities that you could get involved with. Now as in anything big money normally equates into big risk. Nothing is more risky when they are not regulated or given approvals by the relevant governments and monetary controllers of the country that you reside in. The reason is that should there be fraud or mismanagement your ability to seek redress could and normally is assisted by these bodies. So do not fall for schemes that do not get the permits and accreditations from the regulatory bodies in your country. Do not get taken in that it is ok that it is accredited in another country line. The reason is very simple. Basic if its in another country the cost could be very high for you to seek redress on your losses if they are based on mismanagement or fraud. Very basic cost such as lawyers fees etc. The other is you may not have any legal right to redress solely from the fact that you may not be a citizen or recognised resident, or even the fact that the money that you had invested was not considered legally there in the first place from your part but may be legal from the operators part. Complex? These are not even the half of the possibilities when things go wrong. So don’t use short cuts when investing with your money.

Of course good old brick and mottar businesses are not dead. They have been evolving by distributed locations but not necessarily full build up. With the commuting skills etc some businesses have gone the working partner route for every role within its business. Right down to the receptionist. This method though may be costly in some ways generally seems to work out to be a model with better motivated deliveries as no deliveries or lack of quality the renumeration and rewards can be tuned appropriately. Also very easily moved to a new partner or operator and the overall delivery to customer can remain of the level the customer pays for. Yes even the cheapest equating to possible deliveries with less frills.

So if you are thinking of starting a business do remember even if your are virtual or online. Do register your business in the countries you operate in.

For Malaysia the link below is for the body responsible with one variation of business registration type.

http://www.ssm.com.my/ms/sole/starting-a-sole-proprietorship-partnership

From that if you have a physical space you work out from such as a office or shop lot then a business licence from your municipal council. In Malaysia an example of that would be as follows:

  1. http://www.mbpj.gov.my/ms/perniagaan/pelesenan
  2. http://www.dbkl.gov.my/index.php?option=com_content&view=article&id=74&Itemid=272&lang=ms

Of course there are many more municipal and city councils more. Just do a search for the area that you wish to operate in. Now note the following:

  1. SIgn boards need additional licences in some locations.
  2. Some locations signboards are mandatory requirement for running a business.
  3. Running a business from home in actuality does not exempt your from requiring a business licence. Though many do not have any. In some locations some businesses are exempted from needing a business licence especially the home operations according to specific categories or requirements. (could be annual income levels or the possibility of harm or need for regulating what you do.) Having said that running something from a home may get you into trouble without a licence due to a neighbor unhappy that you are operating out of your home and you cause an inconvenience to them due to storage, traffic and much more. So best get some regulation in place.

You may wish to operate from home but may wish to have a place of meeting up and being represented from besides your home as it may have people calling at all hours of the night or day which you want to limit. So you set up a physical commercial premise or even use one of the pop up or service providers that provide you from virtual services to physical services. We at KANSHARE SDN BHD do provide those services. Please look at our other segments of our website. http://kanshare.com/Products/ or http://kanshare.com/Solutions/ and even http://kanshare.com/Partners/.

Whether you make money or not you do need to declare the state of your income or lack of it as it may be. For Malaysia the taxation department link is as listed below:

http://www.hasil.gov.my/

However with the implementation of GST and prior to that there were some variation of taxes or taxation in the line of doing business. Their link is as follows:

http://www.customs.gov.my/en

As you work especially if you are in a more mobile industry, getting hurt may be unavoidable. If you have been an employee you would have been already contributing to this fund and as such able to claim from it. So to retain the possibility to claim you could also continue to contribute to them.

https://www.iperkeso.my/

Of course there are private solutions also available such as medical cards and insurance policies. Note some of these can be tax deductions.

Of course when preparing your financial records and business interaction records you may require legal services (lawyers), accounting and book keeping services (accountants with supplimentary accounting software which you can own), Auditing services (auditors) and company secretaries (company secretary)

As you worry about your old age, you may wish to continue to save in these various funds. Some of which are mandatory.

http://www.kwsp.gov.my/portal/ms/web/kwsp/home

http://www.kwap.gov.my/en

Mutual Funds like

http://www.publicmutual.com.my/

http://www.asnb.com.my/v3_/asnbv2_0index.php

Now with all the above there are many more services or skills you will need to learn or hire.

That is why rather than owning the cost of setup and operation, save where you can.

Cost of renovation and such is one major cost (the amount spent here could give you months to years of operation in a serviced office such as KANSHARE SDN BHD. Need an office or an option of having a space that shows you are serious and committed into business (really helps in keeping you disciplined, increasing the view of your customers towards you and tender evaluation especially for government opportunities. But not necessarily grand requirements.) Use virtual premises and such. KANSHARE SDN BHD uses the close to home concept (There are many concepts available when choosing serviced offices/business centres/share space/coworking space. There is classy, regional, free spirited and many more) and always encourages new operators whom would like to follow. We provide solution assistance to setup and also willing to operate for you or let you take over our location while we start new locations. (Why take over? Cos the initial build up period and learning relevant to your area is reduced. All you need to do is operate which is service and retain your existing customers and grow more customers with more marketing.

Interested email us at enquiries@kanshare.com)

Interested in having a coffee session to get a feel of what you may be getting into buy into the entreprenuer mentor session from KANSHARE SDN BHD. Want to know more? That’s right email us at enquiries@kanshare.com. Buy some hours or sessions from us.

Custom sessions based on your specific topics also available beyond the regular free style topics.

Business online… do i need a physical space for ….

“I have an online business. Why do i need a physical address for my customers? They won’t come over.”

As business methods evolve there are many preferences and requirements. Some are driven by your needs, some by your customers and in environment where there is confusion, then comes driven by legal compliance. What ever the drivers, what ever your choosen medium for conducting your business there are a few minimum expectations, even if they are rarely used.

In the current online business environment, as it is becoming one of the prevalent methods of conducting business, as it evolves more expectations arise coming from a hybrid of business styles of conducting business.

One of them is that even though you may be online hence “virtual”, is a physical address location that you can be located. Preferably at this location you have a set frame of business hours and someone to help you attend to your customers. No longer is it the expectation that you have a full blown setup, but at least a setup that is functional.

So you could use light lease options for your space such as that provided by Serviced Facility providers, you can also use loose labour (such as temp staff or remote working staff or even outsourced attendants) to meet your live people interaction requirements. But you do need to up your setup in todays environment.

So just a frame of expectations that we have collected via responses and enquiries online, human interaction daily etc are these: –

  1. Yes i will buy online. But i want to be able to walk up to the merchants and have a direct live discussion.
  2. I do like the reach online businesses have by them using couriers and such. But would be better if i could just call them up to do the return pick up even if i have to pay for the return cost, but not the replacement cost.
  3. It is ok that i can go to a multi tenanted or hosted location to find them. Even a kiosk will do as long as i can find them there. Even if it is limited days in a week. Hence even a serviced facility location, a mall, even a bazaar or an office address will do. If i get a house address i will drop by anytime.
  4. As many communication mediums need to be available to me. Phone, Skype, Messenger, SMS, Email and more. Even fax.

Leaving you with the above in mind. Look out at any serviced office facility for a Internet Entrepreneur package that should provide you a business address, a mail box, virtual assistant and possible share meeting space. Shared storage would be a nice plus so that you could actually put your stock there instead of your homes. Ask if they could help you secure some insurance service too. This is to limit your losses in event of break in or fire. These facilities do not provide you that kind of protection else your price will be much higher.

Business Address…. more than just a label to a location

All space can be used for all kinds of purposes. But being able to locate the space requires structure, by all norms this comes with labeling schemes…. in this case addresses for locations.

Addresses through the ages have started from just a generic general area till progressing down to a specific unique location right down to a unit within a location. Example? Well it used to be just a reference to a town or village and person known within that town or village would be known within that community. So anyone from outside that community just needed to ensure that it reached that town or village with the name of the intended recipient and they would be assured it would reach that person. Of course the possibility it may not reach was always there. And it was an accepted risk. Especially in social engagements.

But as we in now present times have multiplied, in terms of names and locations that have many similarities but yet could result in great differences, the need to have very specific addresses has increased. More so in business. Even with the advent of virtualization, electronic communication systems, a good old physical address is still important. Some may refer to having a store front or brick and mortar location with an address as still relevant. And it is true.

As currently more places cost to acquire or build up along with the idea of permanence having so little stability due to the ever constant changing human needs, to set up a permanent place may prove daunting in terms of complexity and cost. So a good middle ground with possibility to scale according to need is to go with the Service Providers. They could start with the basic provider like a General Post Office Box to a more commercial valued presentation such as a professional mailbox service. All these providers may provide you a variation in their service in terms of general box to personalized box with supporting services such as customised receiving services and more.

Today a scale up to this service will be Serviced Office Providers whom will also have available Temporary and Longer term packages ranging from open concept to private and work group office concepts. Along with that also meeting rooms, conference and seminar facilities.

KANSHARE SDN BHD is one whom is able to provide you with some of those services. And where we are not able to meet your needs, through partnerships and good friendly working relationships with similar providers we are able to possible recommend you one whom has a solution to meet your needs.