Franchise Business Opportunities or Franchising can be an attractive entrepreneurial platform for entrepreneurs to start their ventures in Malaysia. Owning a franchise would mean that the entrepreneur just needs to follow a set of systems set by the franchisors and would not need to invest substantial resources to build their brand or market presence. It can be a cash-cow if done right! Continue reading Franchise Business Opportunities for Entrepreneurs in Malaysia
This is the time where businesses will be looking for effective tax planning strategies to help them to document their operations accordingly. The season has finally arrived where businesses, entrepreneurs and companies will be filing in their annual tax plans in June for all registered Malaysia based businesses.
“Coworking spaces are shared working environment, often an office, and independent activity. Unlike in a typical office environment, those coworking spaces are usually not employed by the same organization. Typically it is attractive to work-at-home professionals, independent contractors, or people who travel frequently who end up working in relative isolation. Coworking is also the social gathering of a group of people who are still working independently, but who share values, and who are interested in the synergy that can happen from working with like-minded talented people in the same space.” Continue reading 9 Awesome Coworking Space around Kuala Lumpur, Malaysia
A good idea is worth nothing if there are no talents that come together to build a good product/platform and drive the business thereafter. Like all other business, Startups which are at their early stage need to grow their traction, revenue and scale their business further. The need for Startup hire often come for the main purpose of growth, increasing resources as well as filling up gaps within the existing team. Continue reading Perspectives of Startup Hire
Suppose you know what small business you are going into. It is advisable to go into a small business where you are confident of getting customers, NOT one you are confident of getting the supply (products) if your intended business involves products. With customers readily available, getting the products is much easier compared to the other way round.
Think of your small business name, your brand!
Have a brand name that is consistent with your small business type and the target customer group. Note that business name is different from the company registered name. For example Starbucks Coffee is a brand but it is owned by Berjaya Corporation Berhad.
TIME REQUIRED: 1 day (inclusive of Google search to get a unique name if possible). Some take longer if they lack inspiration.
Buy a domain name
The ultimate asset for small businesses today. Check online to see if the domain is still available. Visit or www.godaddy.com and it is best to purchase a domain ending with “.com” for commercial purposes. Cost is approximately USD10/year. If you want a domain ending with “.com.my” go to http://www.domainregistry.my. It costs RM110/year when there is no promotion. During promotion period it can be as low as RM50/year
TIME REQUIRED: 30 minutes
Buy web hosting space
This is an entirely optional step but it is required for you to have a website. Web hosting space is needed in order for you to store your web files so that your website is visible and so you can have an email address ending with your company’s domain (e.g. @luxonu.com) instead of gmail.com or hotmail.com which is less professional. If you engage a web designer, he/she will handle this for you. To minimize cost, you can consider using a blog if it is appropriate. For blog sites you can visit www.blogspot.com or www.wordpress.com. An actual website is more professional compared to blogs. With a great capacity and bandwith web hosting service, you”ll have your small business super scale-able.
TIME REQUIRED: 1-2 days to understand what web hosting is and shopping for one that suits you. Buying takes 10 minutes.
COST: RM150/year approximately
Design a logo
A logo is what everybody sees and is crucial. You can pay a designer to do it or do it yourself if you have the inspiration for it. The logo makes it easy for your customers and partners to remember and to relate you with your products/services.
TIME REQUIRED: 2 days
COST: RM100-300 max (For a small business we need not engage an expensive designer. The idea can come from us and the designer will just translate our idea into an image)
Create a tagline
A tagline is important for your customers, partners and yourself. It is a motto or a mantra that you live by. Keep it simple and short, preferable 3-5 words. It is another way to differentiate your small business with everybody else’s.
TIME REQUIRED: 2 days
Register your business with Companies Commission of Malaysia or better known as SSM (Suruhanjaya Syarikat Malaysia).
SSM is located in KL Sentral. To save time you can download Form A and fill it in before visiting SSM. Upon completion you will have a company registration number and congratulations! You are now officially owning a business!
TIME REQUIRED: 2.5 hours (assuming you spend 1 hour driving and 30 minutes to fill in the form. You can get your official business registration form within 1 hour)
COST: RM60 (Enterprise)
Design your business card
A business card is our first marketing tool when we meet potential customers and partners. Believe it or not, your small business perception or first impression hinges a lot on your business card. It is important to spend a bit more time on it, especially on research and getting feedback. We are speaking about your stimuli for attracting potential customers. There are a few options: a. Get designs from online business card templates b. Get designs from printing shops, they offer free templates that you could use c. Pay a designer to design your business card
TIME REQUIRED: 3 days
COST: RM100-RM300 unless you pay a pretty experienced designer
Print your business card.
Your business card should have almost all of the above, brand/business name, logo, tagline, company registration number (optional), contact number/website/Facebook/email, products and services offered, etc. Depending on the material and quantity chosen, typically a box of business cards can be printed in a week.
TIME REQUIRED: 7 days
COST: RM30 for a box of 100 pieces (average price in KL)
Assuming your small business is doing really well, things to consider next are:
-Finding an office location (this is a huge task). Unless your small business isn”t really small anymore, it remains an optional item.
-Finding your support team (accountant, banker, mentor, webmaster, etc). A small business usually leaves this to outsource teams but it”ll be good to have them in-house someday.
-Finding your staff.
-Trademark your logo/tag line. Nuff said on this.
More information on starting a business is available from SSM’s official website.
Innovative Malaysian gaming company, fanxt.com intends to ride on the F1 Sepang fever with a game that will keep all fans turned aspiring F1 drivers glued to their seats with an interactive app through the web and Facebook that will put players at the seats of the drivers. As reputed by the company itself, this will be the world’s first gaming platform of its kind, debuting during the F1 season which starts in Malaysia soon. Continue reading Malaysian Company to Launch Interactive F1 Online Game and Facebook App for Sepang F1 Fever
Recently The Star featured a story about a very interesting company, a USB Drive company, based in Taiwan. That company name is Phison Electronics Corp and it is a public listed company in Taiwan that is valued at Rm 4.3 Billion. This company was started by Pua Khein Seng who hails from Selangor. This 35 year old graduate from National Chiao Tung University worked part time support himself while he was still a student.