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 Ideas…. Shared Facilities Business

The Shared Facilities Business is an old business. It arises from the fact that persons needing the facility do not always necessarily need the entire facility, have the knowledge to outfit and prepare the facility or have the large sum of money upfront to put up the facility.

This is where comes the Shared Facilities Business. The first version of Shared Facilities were boarding houses and hotels. They were started mainly for the traveller or out of town worker whom had yet to get their own home or need one so permanent due to their temporary nature. As prices of things or scale of facilities grew, hence came the providers of more variants to Shared Facilities.

Below are a list that may not be comprehensive nor segregated accurately but you will get the idea. Maybe you could also suggest a few more.

  1. Shared Residences. This is the segment where boarding houses, rented rooms, motels, hotels, guest houses, shared houses, serviced apartments and more. This caters to the temporary to more long term segments. A losely associated element could be rented houses and apartments. Basically any facility for the purpose of living.
  2. Shared Offices. This is the segment where business persons may setup temporary to permanent operations for their first business location to a regional representation of their business. In this segment you would have the serviced and bare rental segment. It is interesting to note that the virtual office is also hosted in environments like this. Shared Serviced Office Business has been growing rapidly around the world. Here in Malaysia it has grown very rapidly over the last few years. The style and options are very wide. From the neighbour hood provider till the prestigiously located address provider right up to the regional and international provider.
  3. Shared Retail Locations. This segment is where retail space located in shop houses or lots till malls are rented from bare to fully prepared. This would include stalls and kiosks.
  4. Shared Meeting facilities. meeting rooms, conference rooms, seminar rooms,
  5. Shared Storage. This segment has the traditional warehousing all the way to the newer self storage facilities. The different segments provide differences in sizes, availability right down to supporting service solutions.
  6. Shared Exercise facilities. Gyms, team building locations and more.
  7. Shared Education facilities. Tuition Centres, training centres,
  8. Shared Medical facilities. Hospitals today provide facilities, tools and administration support to attending medical specialist in return for a share of the returns of a charge for facilities used. Private sector medicine is growing with this model in leaps and bounds.

 

Note that the Business Ideas segment is to give ideas and is just to encourage people whom are looking to start a business. Be it for additional income, just looking for change or opportunity. Information provided is just on a level of concepts generally, some level of detail may be provided as example only. It is best should an individual or group of individuals wishing to use the idea to do through research prior to implementing the ideas. Most of the ideas require adaptation and also further detailing to be even ready for deployment. Take it as a seed. The writers and the host platform is not responsible for any results arising from the use of any ideas that have been made available free of charge in seed form.

 

 

The evolving role of the Service Office Provider.

The role of the Serviced Office provider has evolved from the initial version of providers. They were primarily landlords or building owners whom had agreed to cater to large MNC (Multi National Corporations) that had financial strategies and business strategies that ranged from lowering their initial investment, especially in countries that were very volatile. Another would be that they could exit quickly without too heavy losses.

The initial versions were catered for single company occupancy. The focus then was reducing complexity for the tenant with compensation that was higher. The initial model was very lucrative for the owners with some contracts being that they were paid up front for the entire tenancy. Hence they then could reinvest for another property.

As time went along more smaller companies sent representatives out and the need for a shared version of this facility arose. Hotels initially were the hosts for these outfits that were either smaller or temporary in nature. The hotels provided a mixed residence and business centre facility for them. But as the numbers arose and the hotels rates for services raised alternative operators. These version were very staid and rigid. A lots of structure was adhered to just as in a normal office. In a sense they were very classy in their delivery.

As economies exploded in a positive way, more people ventured into business. As such the demand for office space grew. But not everyone had the expertise to build and run one. This opened up the market for more enterprising entrepreneurs whom then built and ran it as a business.

Today serviced offices have evolved to incubators, entrepreneur encouragement/development centers and more. The flavor of operator basically is in two forms, corporations (Big and also smaller ones) and owner operators. The theme these various operator have been described a little bit in an earlier post that we did. But one very useful delivery these new breed of operators bring is their skills from their earlier working life. That is processes, contacts, mentoring and idea building/developments, introduction to funding with much more over and above just space, service and technology.

This is another element that could go into your evaluation of your choice of Serviced Office operator for your business.

One point to note is that not all of these operators own their premise anymore, but the demand is such that even with rented premise, they are operating this business. One of their current revenue streams are providing consultancy to property investors to convert their premise for providing their tenants with full service premise. Property investors are beginning to realise the competition for tenants in the unimproved property rental market is currently soft. Due to the high demand of rental rates, deposits, difficult owners and business environment that is challenging for the potential tenants whom need to keep a higher fluid cash flow level. Those whom have excess would be investing into the property for their own business use and more.

Going the Serviced Office way, deposits are lower (less months required), termination, resizing is more flexible with shorter duration of notice and more business support is available for purchase by the business owner.

Its been a good month

Its been awhile since our last post. No we have not added more towards how much starting businesses cost. But we will soon.

But a little off tangent on this post. Recently we have been having more interest than usual in our offerings.

As people drop by we share our principals and ideas on what we are doing and how it helps them.

It is surprising that many people in the SME market are not aware of the current trend of only doing what is key to your knowledge and out source what isnt.

With the globalisation and business scheme of people whom invest in stocks and shares of businesses to make money, no longer out of their skill and effort, but how much money they have that has driven the market to a frenzie to make more for their share holders every year, year on year.

The effects of this is more tol on the staff and less rewards for them.

So our main principal.

Everybody a business owner and consumer. Like the days of old we in a sense barter our skills and trade with each other only using a common denominator…Money!

So what we are trying to provide is a platform with all the support to all business owners and potential business owners to make something for themselves. In a sense we could be taken as an incubator.

So to end this lets all get back to basics.

“Be a business owner and direct consumer. Lets cut all those layers back to minimum.”

Do contribute your ideas. We will be starting a business ideas blog shortly.