Business Ideas for Collaborative Economy Business in Malaysia

The Collaborative Economy Business in Malaysia is Emerging

The rise of collaborative economy has been going on throughout the world. Malaysia is one of the countries that has the best business opportunities for it. The collaborative business economy in Malaysia has brought in a lot of profit to those who began venturing into the industry in recent years.

The industry is made of peer-to-peer businesses that share an economy. which uses a collaborative consumption model where an individual pays a certain amount to access products and services for a limited time. Due to this model, owners are now able to make profit from renting out their things that might just sit around in their home.

Business Ideas You Can Start Today

Attire

A lot of people have their clothes in their closets that they are not wearing anymore. There are companies that offer to buy and have swap options, and some even provide a subscription service for clothes. You can also have a rental company for clothes that offers formal wear, outfits for special occasions, or clothing for work.

Sports Supplies

Being part of sporting activities, such as surfing and skiing might be very fun but it can also be very expensive. One of the rising trends in the collaborative economy is sports gear rental.

There are sites that allow users to connect with owners of equipment in their area. In addition to that, these sites even offer equipment owners thousands of dollars as guarantee if any piece gets stolen or lost.

Ride and Parking

The growing startup movement of ride sharing has shown that people require a lot of this kind of service. This range from sharing cheap rides to online taxi services. Ridesharing introduced the use of social networks to power real connections. It explains the way service works on their website. Peers are able to do online seat bookings and form communities. There is a company that only accepts “donations” since it is not registered a taxi service. It is sharing service that offers rides for people to get rides from “regular” car owners.

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Have a B2B Business

A lot of individuals know that shared economy is changing the ways of how individuals consume goods and services. Although, they might not realize a collaborative consumption has changed the world of B2B. In a shared economy, businesses share everything from phones, Xerox machines furniture, to office spaces. B2B sharing is very beneficial for the startups and small businesses that are still trying to emerge from where they started.

Market for Local Handmade and Services

It can be dog walking, helping out to bake a cake, or babysitting are services that can be outsored. An online site helps people find a dog-sitter in their local area. There are also peer-to-peer marketplaces that help people provide services.

Its main focus is on creating stores where sellers can showcase their services. There is even a mobile marketplace that is for people who want to hire others. Services include to perform jobs and tasks like office help and delivery. This kind of online marketplace could have thousands of members who bid on tasks.

Lending

A lot of people have a hard time securing the financing they need for business and personal goals. A trend that is rising in the shared business industry are financing companies. What they do is connect borrowers to find reasonable interest rates while letting lenders earn more profit.

Business Ideas for Collaborative Economy Business in Malaysia
Since the lending business does not have high administrative and marketing costs like what traditional banks have, the savings they make can go to the users. Lending platforms are still earning a lot of profit because they charge fees for transactions.

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Food Delivery Apps

There are food delivery apps that creates a leverage to crowdsourcing for deliveries. A food app with an advantage can be created to beat competitors. The app can give consumers the option to satisfy nearly all of their cravings by simply paying for others to pick up what they ordered.

The app does not have to be limited to full-service restaurants only. It does not need to have its own drivers. Instead, it takes advantage of crowdsourcing to operate peer-to-peer delivery options. The app should be very easy to use where users only have to place an order and wait until another user agrees to the request.

The cost of delivery is divided between the person who completes the delivery and the company, which makes it easy for consumers to earn extra income from this. This app will show how the model of crowdsourcing can be utilized so that consumers have more flexibility with restaurant deliveries.

These ideas are easy to start if you want to enter the collaborative economy business in Malaysia because there is a growing market in the country. In addition, you do not need to have a lot of capital to make any of these suggestions work.


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